Definition: Funding education is the process of covering tuition, living expenses, and other school-related costs. While many students rely on loans to finance their education, there are other ways to reduce the financial burden, including scholarships, grants, and work-study programs. Finding alternatives to loans is crucial for preventing long-term debt accumulation.

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Options:

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• Scholarships: Many organizations, schools, and companies offer scholarships based on academic achievement, financial need, or specific talents. Scholarships can be found on sites like Fastweb or Scholarships.com.
• Grants: These are financial awards based on need and do not require repayment. Check out Grants.gov for federal grant opportunities.
• Work-study: A federal program that provides part-time jobs for students with financial need. Learn more through StudentAid.gov Work-Study.

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Why it’s important: Reducing reliance on loans through scholarships, grants, and work-study opportunities helps students avoid starting their financial journey with significant debt.