This is our third and final article regarding financial aid for college. As a recap - our first article centered on Federal Financial Aid, which includes grants and student loans. Our second article focused on the myriad of scholarships that are available. This article will focus on filling in the gaps in your financial aid package and discussing alternates for the relatively few students who don’t qualify for financial aid or scholarships.

Whether you qualify for Federal Financial Aid, every college student should complete a Free Application for Federal Student Aid (FAFSA) for each year they plan to attend college. Even if you don’t qualify for any financial aid, this form will help you locate and organize your finances. 70% of students who apply qualify for some sort of aid, whether it comes in the form of grants or loans. Some students don’t get financial aid because they don’t apply on time, or don’t apply at all! Don’t let that happen to you.

Let’s say for example you don’t qualify for any form of federal financial aid and you don’t earn any scholarships. How can you attend college then? If this rare situation applies to you, it means you, or your family make too much money! Look to your family first to help you in school. You can attempt to persuade them to give you the money, or even propose a loan with them, where you pay them back after you finish school.

If, for some reason, you can’t borrow the money from your family, try your employer. Many companies offer tuition reimbursement programs that will help you cover your college courses. Some restrictions like course of study and performance in school may apply, so check with your employer for all the details. Tuition reimbursement programs also vary company to company.

If your company doesn’t offer tuition reimbursement, or you’re not working you could consider going to school part time, to lower tuition costs. It may take longer to complete your chosen program, but you’ll be able to budget for it better.

Students who are returning to school later in life, or are pursuing Master’s degrees may consider taking out a home equity loan to pay for college. The interest rates are very low right now and the payments are also very small. There is no deferment period like with traditional student loans, but the interest paid may be tax deductible. This type of loan is tied to your home, so if you default on it, you could lose your home.

If none of these options apply to you, your last, best option is to turn to your rich uncle, Uncle Sam. That’s right! He’s got over $50,000 for you to pay for college if you sign up for the Army, Navy, Air Force, Marines or National Guard. You’ll earn a wage while training and the G.I. Bill will help you pay for college. There are restrictions to this program. You’ll need to take the Armed Services Vocational Aptitude Battery (ASVAB) to determine eligibility. You also must be physically fit. On the down side, there is the possibility of getting called up to fight in various wars around the world. But, if you overcome, your financial problems for college will be over.

While college costs are on the rise, there are many ways to pay for it. Don’t let the cost of college prevent you from attending. If you follow any of the advice we’ve given you, make sure you complete a FAFSA each year you plan to attend college. 70% of students qualify for some type of aid through this application. Remember you can combine various forms of financial aid. Finally, be sure to include other fees in your college budget including books, lab fees, transportation and living expenses like room and board.