When considering funding for college, which option should you prioritize?

Prioritizing scholarships and grants when funding for college is essential because these forms of financial aid do not require repayment, making them a cost-effective option for students. Unlike loans, which create debt that must be repaid with interest, scholarships and grants can significantly reduce the overall cost of education and minimize the financial burden after graduation.

Scholarships may be awarded based on academic merit, extracurricular achievements, or specific demographics, while grants typically consider financial need. By seeking these options first, students can secure funding without accumulating debt, allowing for a more favorable financial situation during and after their college years.

Funding sources like loans or work-study programs can serve important roles, but they should ideally be approached after maximizing the amount received through scholarships and grants. Utilizing savings is also a viable strategy, but relying primarily on personal savings may deplete resources that could serve future needs. Therefore, scholarships and grants are the most advantageous starting point when considering college funding.