How To Pay for College Without Financial Aid: Top 5 Strategies

Paying for college without financial aid might seem daunting, but it's not impossible. While the average undergraduate received $16,360 in federal financial aid for the 2023-24 school year according to the College Board, not everyone qualifies — and even if you do, financial aid may not cover all your expenses.

Here are the best strategies to help you cover your college costs without relying on financial aid.

Private scholarships and grants

Private scholarships and grants can provide crucial funds to help cover your college costs. These awards are often based on factors like your background, financial need, academic achievement, or field of study. Unlike student loans, scholarship and grant funds don't have to be repaid.

“It is important to apply for as many public and private scholarships as possible,” says JB Beckett, founder of Beckett Financial Group in West Columbia, South Carolina.

“Be sure to check with local civic, business, and charitable groups for available funding to help pay for college. Apply early and be sure to apply on time. Missing a deadline can be crucial with college funding just like it can with application deadlines,” Beckett adds.

If you're not sure where to start your search, explore scholarship databases, like BigFuture by the College Board, the Department of Labor's CareerOneStop search tool, and Fastweb.

Current private student loan rates

Affordable in-state programs

Where you choose to attend college has a significant impact on your costs. Private four-year colleges often carry a much higher price tag than state schools or community colleges. According to the College Board, average tuition and fees for the 2024-25 school year are:

• Public 4-year in-state: $11,610
• Public 4-year out-of-state: $30,780
• Private nonprofit 4-year: $43,350

For the most affordable option, consider starting at a community college or enrolling in an online program. The average tuition and fees for community colleges in 2024-25 are $4,050, according to the College Board.

“The first two years of college include more introductory and basic classes,” says Beckett. “Taking intro classes online or at a two-year school can reduce the overall cost of college as well,” he adds.

After completing two years, you can transfer your credits to a four-year institution to finish your degree. Before choosing this route, confirm that the four-year college you plan to attend will accept your community college credits. While most transfers are straightforward, understanding the requirements ahead of time is important.

Beyond tuition savings, students who can live at home while attending community college can save thousands on housing costs.

Related: How To Qualify for Need-Based Financial Aid

Employer tuition assistance programs

Employer tuition assistance programs exist to help employees pay for educational costs. If you're able to work while attending school, these programs can cover a significant portion of your tuition bill. A few well-known employers who offer this perk include:

• Chipotle: Chipotle offers to cover 100% of your tuition for approved degrees through a partner institution. But if you want to attend somewhere else, you can receive up to $5,250 in tuition reimbursement each year.
• Disney: Disney will pay 100% of your tuition up front when you attend an approved program.
• Home Depot: Home Depot reimburses employees for up to 50% of approved courses. The annual limit is $3,000 for full-time hourly associates, $1,500 for part-time associates, and $5,000 for salaried associates.
• Papa Johns: After 60 days of employment, team members working at least 10 hours a week can enroll in the program. The company pays for your tuition up front when you attend an approved online program.
• Starbucks: Starbucks will pay for 100% of tuition and fees through Arizona State University's online program, if you qualify.
• Target: Target employees can receive up to $5,250 in tuition reimbursement for approved non-master's degrees within its network of partner schools, and master's degrees can receive up to $10,000 in reimbursement.
• UPS: UPS employees can receive $5,250 in tuition assistance per year, with a lifetime maximum of $25,000.
• Walmart: Walmart's Live Better U program pays your entire tuition cost at partner universities for approved undergraduate programs.

The details of each program vary. For example, most have annual and lifetime limits. Some companies require you to work at the company for a specific amount of time before you qualify. Others have rules about how many hours you are expected to work to maintain access to the perk. Some companies, like Home Depot, will only pay for approved courses. Others, like Disney, require you to attend a partner school.

Part-time work

A part-time job allows you to offset some of your living costs, and many campuses offer work-study alternatives, such as positions at the campus gym, library, or student union. If you want to stay on campus, look around where you already spend some of your time.

If on-campus work isn't available or doesn't suit your needs, consider off-campus jobs in the local community. Retail, food service, and tutoring are common options for students looking to earn extra income.

Check Out: 15 Best Jobs for College Students

Private student loans

Private student loans can help fill funding gaps if other options don't cover your college costs, but it's important to weigh their financial impact carefully.

“When consulting clients, I always stress the importance of understanding loan terms, as long-term financial health hinges on smart debt management,” says Nischay Rawal, certified public accountant at NR Tax & Consulting.

Private student loans don't offer the same benefits as federal student loans. Generally, they have higher interest rates and less generous repayment plans after graduation. To qualify, you'll usually need a strong credit score, a steady income, or a cosigner with strong finances.

Before taking out a private loan, compare lenders to find the best rates and terms for your needs. Be sure you fully understand the repayment conditions to avoid financial strain later.

If you take on more private student loans than you can afford to pay off after graduation, you won't be able to switch to a more affordable repayment strategy, such as a federal income-driven repayment plan with built-in loan forgiveness.

Learn More: Federal vs. Private Student Loans: A Complete Comparison

If you struggle to keep up with your private student loan payments, you could also default on the loan. Ultimately, this can hurt your credit score and make it more challenging to finance future purchases, like a house or car.