For some of us who belong to the working class, life is a daily struggle for subsistence and shelter. The closest thing to
gourmet food that most of us can afford is fast food takeout. When bills and rent fall due, we seldom have money left for savings. Some working class people do not even dream of sending their children to college. How can a struggling daily wage earner afford the high expenses of a college education? A typical college education will require not only tuition fee, but also book allowance, dormitory fee, and food allowance for four years.
Some ambitious parents resort to
mortgage housing loan to finance the college education of their children. Mortgage loans maybe an instant solution to a big financial problem, but it is not always practical. Most loans can only be secured with real estate collaterals. An average wage earner may not even qualify for a mortgage loan.
The other options available are scholarship grants and
education loans. If your child is one of the gifted few, he or she might qualify for scholarship grants. On the other hand, some schools also offer education loans for students.
