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The payoffs of having a degree can be huge. The problem is you need to find money to pay for college now, which often means taking out student loans and being saddled with debt after you graduate. However, there are many alternatives to loans, including some particularly creative strategies.

1. Find Multiple Sources of Aid

Many sources of financial aid exist — you just need to find them. Be aware that this will take a large amount of time and effort. After all, if it were easy, everyone would be doing it. You’ll need to spend your free time searching for any scholarships and grants that could be relevant to your situation and then crafting compelling applications to stand out from other candidates.

2. Start at Community College

Although community college is not free in Canada, it is less expensive than university. You can use it as a way to start your post-secondary education and then continue to university if you want to pursue a full degree. You may even prefer this route for other reasons, such as the smaller jump from high school to college and the chance to belong to a more intimate group of students and faculty where almost everyone knows each other.

3. Work Freelance or Gig Jobs

Finding a part-time job can mean your tuition fees become more manageable; plus, you’ll have spending money available to enjoy more aspects of the college experience. Many students search for jobs on campus to have an employer who is understanding of their schedule and commitments. However, a great alternative can be to work freelance or gigs. You’ll be able to pick up work whenever you have time and stop whenever you’re too busy, such as during the midterm season.

There are countless options available, including driving, graphic design, childcare, and photography. You should be able to find something you’re good at and enjoy.

4. Sell Custom Clothing

Most students are proud to belong to their universities and like to have at least one piece of clothing that shows off the fact that they are part of the institution. In other words, you are surrounded by potential customers if you decide to make clothing that represents your college.

If you have artistic tendencies, you should find that creating designs is nothing difficult. Alternatively, if you’re majoring in business studies, you could form a partnership with someone who has design skills and handle just the management side of the business. Keep sales consistent throughout the year by creating new pieces of clothing each time there’s an event — from a sports game to a big party. Since students will want to have something to remember the event, you’ll be able to build up a strong base of repeat customers.

5. Set Up a Franchise

Starting your own business from scratch can be intimidating — starting a franchise, though, may feel more accessible. Whereas some franchises have high startup costs and require you to work full-time to see success, something like a food cart is inexpensive and can lead to big returns. Plus, it’s transportable, allowing you to go wherever students are. Pick either food that’s easy to prepare or beverages like coffee or smoothies. Not only will these will be popular with students, but you’ll also be able to sell products quickly and in large quantities.

Just because you need to stick to a budget shouldn’t mean you need to live in subpar housing. Students looking for rooms to rent at an affordable price can find a home at Foundry First. We have several different floor plans, all of which give you a private bedroom in a fully-furnished suite. Apply now while there are still spaces available.