College Funding 101: What Smart Students Do First
Figuring out how to pay for college can feel like a lot. Between rising tuition costs and all the extra expenses—books, housing, food—it’s easy to get overwhelmed.
But smart students know the key is to start early with a solid plan. They use every resource available to lower their costs and avoid unnecessary debt. That means looking for ways to save money, applying for free financial aid, finding flexible work options, and building a simple budget that actually works.
Here’s how you can take the same steps—and set yourself up for a strong financial start.
💬 Want real advice from students and parents who’ve been there?
Community College
Before committing to a four-year university, many students choose to begin at a community college. It’s one of the most cost-effective ways to complete general education requirements without taking on large amounts of debt.
Community colleges offer lower tuition rates, flexible class schedules, and easier pathways to transfer into a university later, making them a smart first step for both your education and your finances.
Apply for Free Money: Federal & State Grants
The first step in getting college funding? Apply for FAFSA—the Free Application for Federal Student Aid. This application opens the door to a range of grants and programs that don’t need to be repaid.
- Complete the FAFSA form here to apply for financial aid (opens October 1st).
- Pell Grant: A federal grant awarded to students with significant financial needs.
Other state and school-specific grants may also be available once your FAFSA is submitted.
Pro tip: The earlier you apply, the better your chances of getting the most aid.
Enter Scholarships – Early & Often
When it comes to paying for college, scholarships are the ultimate win— it’s free money you never have to pay back. That’s right: easy money for school, no strings attached.
There are scholarships out there for almost everything—grades, sports, leadership, volunteering, unique hobbies, even your favorite ice cream flavor. The more you apply for, the more chances you have to stack up real savings. You can use College Confidential’s scholarship search tool to find scholarships that best fit your needs!
For students 14+, Ascent offers $1,000 no-essay scholarships— quick to apply! This summer, they are giving $10,000 to one lucky winner with their Summer of Success Scholarship Giveaway. Check out the latest opportunities and enter to win here!
College Confidential makes it simple to score free money for school with $1,000 scholarships open to students 16+. No essay required and easy to apply for.
Explore current opportunities and enter to win here!
Student Loans
If you still need more help covering your college expenses after grants and scholarships, student loans might be part of the plan. But smart students borrow carefully, and only what they need for tuition, fees, and essential living costs.
Before you borrow:
- Compare federal (FAFSA required!) vs. private loans.
- Look for low interest rates, flexible repayment options, and borrower benefits.
- Know the total amount you’ll repay—not just what you’re borrowing now.
Ascent offers student-friendly loans at low rates with benefits like 1% cash back at graduation, autopay discounts, and no-cosigner loan options for eligible students. They also provide flexible repayment options, career support, and free financial wellness tools. Explore your options and apply for an Ascent loan here!
Work Study
Let your job help cover the cost of college. Work-study programs and on-campus jobs are designed to fit your class schedule, so you can earn money without falling behind in school. Plus, you’ll gain real-world experience, build useful skills, and have extra cash for everyday expenses or to save for future semesters. It’s a smart way to support your education while keeping debt down.
Build a Budget
Budgeting might not sound exciting, but it’s a key tool for financial success in college. Understanding how much money is coming in (from work, aid, family support) and where it's going (rent, food, books) helps you avoid unnecessary stress and sets you up for future success.
Smart budgeting tips:
- Track your expenses weekly or monthly and identify needs versus wants.
- Use a budgeting app or simple spreadsheet. Check out Ascent’s Student Budgeting Worksheet to easily track your finances! Click here to download.
- Follow the 50/30/20 budgeting rule to divide needs, wants, and savings.
- Start saving now—even your summer job can give you a head start on college costs.
A little planning goes a long way in helping you stay financially confident during college.
Want more tips to level up your money game? Check out Ascent’s Student Budgeting Blog for even more practical ways to build your budget.
Seek Financial Advisors
You don’t have to navigate college costs on your own. Many schools offer free financial counseling, and local credit unions often have advisors who specialize in student finances. Connecting with independent experts can give you clarity and confidence as you plan how to pay for college—helping you make informed decisions with the bigger picture in mind.
Our partner, College Aid Pro helps students and families break down financial aid offers, compare college costs, and build a personalized funding plan that makes long-term sense.
College can be expensive but it doesn’t have to be unmanageable. Smart students take charge early: they find free money through scholarships and grants, work strategically, borrow wisely, and stick to a budget. With the right plan and support, you can reduce your stress, avoid unnecessary debt, and focus on what really matters: your education and your future.
Still figuring out how to pay for college? Tap into real experiences and get your questions answered.