Going to college is one way for a young person to secure their future. Although it costs extra money to get a college education, those who take the time and spend the effort are usually rewarded with a better paying career and many wonderful life-altering and enriching experiences along the way. Not only do students make new friends, they learn about the world on their educational journey.

The average college education costs vary greatly, depending on the size and prestige of the school. Tuition alone can range from $7,000 to 35,000 per year for a four-year university. Some community colleges and two-year institutions cost less. Paying for college is a unique experience to each student, and may vary from year to year, depending on the financial status of the student and parents. Most students use a variety of ways to pay for school that combine methods. Some need to be paid back upon graduation or if a student stops school; others do not. Here are 5 of the most common ways that students can pay for college.

1. Scholarship - For the cream of the crop in academics and/or athletics, scholarships are offered by colleges and universities. While they may provide a full ride, some only offer partial assistance. The rest of the college expenses must be made up through other sources.

2. Government – A federal student loan is available to most students. They must be financially eligible and meet the other requirements before receiving money for college that must be paid back upon completion or suspension of schooling.

3. Parents – From the time most couples have children, they start saving for their futures. They set aside money or pick up extra jobs. The fortunate children receive enough money to pay for their bachelor’s degree. Some parents even have enough to support the child for a master’s degree. Others fall short and must find additional ways to fund their son or daughter’s educational experience.

4. Loan – When the free methods of paying for school are exhausted or non-existent, a student loan is usually an option. The parents may co-sign with their children, or the teenagers may be eligible for the private loan on their own. With a low interest rate, they are not required to be repaid until completion unless the borrower chooses to start paying them back early.

5. Work – Going to school is time consuming. It requires class attendance and a lot of study time. Some students are disciplines enough that they can not only take classes, but hold down a job as well. For some, part-time school and part-time work are the norm. Others opt for full time-classes and part-time work. Working full-time and taking classes full-time is extremely difficult for most students who wish to achieve good grades. A part-time class schedule is more manageable for those that must hold down a full-time job to make ends meet and pay for their own education.