Continuing education past high school can have a huge impact on earning potential over a lifetime. Whether you attend technical school or college, this additional education is the foundation of a career.
Unfortunately, going to school isn’t cheap. Unless you have a scholarship or qualify for financial aid from the government, getting a degree or certificate could set you back thousands of dollars. In a report from CBS News, student loan expert Mark Kantrowitz said that the average 2016 graduate would have $37,173 in debt when all is said and done.
While obtaining a degree can mean a bigger paycheck in the future, you’ll have to find a way to cover the cost until then. Whether you’re planning on going back to school, or want to pay for the education of your child, you need to raise the money somehow.
Before going into debt, it’s a good idea to look at what other options you have available. In addition to completing your Free Application For Student Aide (FAFSA), try to think of other ways to get the funds you need. If you have a structured settlement or annuity, one option is to sell a portion of your future payments in exchange for a lump sum you can use to cover the cost of schooling.
What Will College Cost
The cost of getting a degree is more than what you pay to attend class, known as tuition. Other expenses include:
- Room & Board: How much it costs to live in a dorm on campus, and to pay for meals.
- Books & Supplies: College textbooks can cost hundreds of dollars each and some classes might require you to buy specific supplies or subscriptions.
- Technology: A personal computer or laptop can be a big help for students.
There are other costs associated with going to school, but they can vary depending on the classes you’re taking and where you attend.
Use Your Future Payments To Pay For School
Peachtree Financial can help you pay for college by offering to purchase a portion of your future structured settlement or annuity payments. You’ll get your cash in a lump sum you can use to pay for college costs.
When you speak with one of our experienced representatives, they’ll ask you about your structured settlement or annuity, as well as what you need the money for. Then, they’ll make an offer to purchase some of your future payments.
In most cases, you won’t have to sell all your structured settlement or annuity payments to get your lump sum. Instead, you may only have to sell a part of it, and will continue to receive the remaining payments.
If you’re looking at options for paying for college and have a structured settlement or annuity, contact us. We’re here to help.
Peachtree Financial does not offer legal, tax, or financial advice. Please contact independent professionals for those services.