Financial aid can make college more affordable, but it may not cover every expense. Some students do not qualify for need-based aid, while others receive financial aid and still have a remaining balance.
Fortunately, there are several ways to pay for college without enough financial aid. Many students combine scholarships, savings, employment, family contributions and payment plans to cover their costs.
Before creating your plan, complete the Free Application for Federal Student Aid (FAFSA) – even if you don’t think you will qualify for federal aid. Filing the FAFSA is the only way to determine your eligibility for federal need-based aid and certain other programs.
Can you pay for college without financial aid?
Yes. Students may use several resources to pay for college, including:
- Scholarships and grants
- Personal or family savings
- Income from employment
- Employer education benefits
- Tuition payment plans
- Student loans
However, “paying without financial aid” can mean different things. You may receive no need-based aid, or you may receive some aid but still have a funding gap.
Remember that scholarships, grants and student loans are all technically forms of financial aid. Students searching for ways to pay without financial aid may really be looking for alternatives to federal need-based assistance.
Start by completing the FAFSA and any applicable New York State aid applications. Then, review your financial aid offer and calculate how much you still need to pay.
Calculate how much you need to pay
Before choosing a payment strategy, estimate your total college costs.
Include expenses such as:
- Tuition and fees
- Housing
- Meal plans and groceries
- Books and course materials
- Transportation
- Personal expenses
Next, subtract any confirmed resources, including scholarships, savings, financial aid and family contributions.
Divide the remaining amount by semester or month. Breaking a large balance into smaller amounts can make it easier to create a realistic plan.
UAlbany’s Cost & Aid and College Planning Resources pages can help you estimate costs and compare your options.
Ways to pay for college without enough financial aid
Most students use more than one strategy to cover their remaining costs after applying financial aid.
Apply for scholarships and grants
Scholarships and grants generally do not need to be repaid.
Depending on your eligibility, opportunities may include:
- UAlbany merit scholarships
- New York State grants and scholarships
- Community scholarships
- Employer-sponsored scholarships
- Awards from foundations, civic groups or professional associations
Each opportunity has its own eligibility requirements, application process, deadline and renewal terms. Review the details carefully before applying.
Never pay to apply for a scholarship. Be cautious of organizations that guarantee awards or request unnecessary personal or financial information.
Learn more about the types of financial aid available to UAlbany students.
Use savings or family contributions
Personal savings, family savings and education accounts can help cover college costs.
Possible resources include:
- Checking or savings accounts
- 529 college savings plans
- Other education accounts
- Contributions from parents or relatives
Families should discuss how much each person can reasonably contribute before a student begins college. Avoid financial decisions that could create long-term hardship for the student or family.
Even a modest contribution can be helpful when combined with scholarships, employment or a payment plan.
Work while attending college
Employment can help you pay for books, transportation, meals and personal expenses.
Options may include:
- On-campus employment
- Part-time jobs near campus
- Seasonal or summer employment
- Paid internships
- Freelance or contract work
Consider how many hours you can work without interfering with your classes, assignments and other academic responsibilities.
A job may not cover your entire tuition bill, but it can reduce the amount you need to borrow or use from savings.
Explore employer education benefits
Some employers offer tuition assistance, reimbursement or scholarships to employees and their families.
Before enrolling, ask the employer:
- Which programs and colleges qualify?
- How much assistance is available?
- Are there grade requirements?
- Must you remain employed for a certain period?
- Is payment provided before or after the course?
- Are part-time employees eligible?
Employer benefits vary. Review the current requirements and confirm that your program qualifies before including the benefit in your payment plan.
Use a tuition payment plan
A tuition payment plan allows students and families to divide a semester balance into smaller installments.
Payment plans do not reduce the total cost of college. However, they may make the balance more manageable by spreading payments over several months.
Before you enroll, review the following to help determine if a tuition payment plan is right for you:
- Enrollment deadline
- Enrollment deposit requirements
- Payment dates
- Late-payment policies
- Eligible charges
Contact Student Accounts or review UAlbany’s current billing information to learn about available payment options.
Look for ways to reduce college costs
Reducing expenses can lower the amount you need to pay or borrow.
Consider the following strategies:
- Compare available housing and meal plan options.
- Buy used books or rent course materials.
- Check whether digital textbooks are less expensive.
- Create a budget for transportation and personal expenses.
- Ask whether previous coursework may qualify for transfer credit.
- Meet regularly with an academic advisor to stay on track.
- Compare colleges by estimated net cost, not tuition alone.
Staying on schedule for graduation can also help you avoid the cost of additional semesters.
Ask for a Financial Aid Review
Contact Financial Aid if your family’s financial situation has changed since you submitted the FAFSA.
Examples may include:
- Job loss
- Reduced income
- Divorce or separation
- Death of a parent or spouse
- Significant medical expenses
- Other major financial changes
The Financial Aid Office may be able to review special circumstances that are not accurately reflected in your FAFSA.
You may be asked to submit documentation. A review doesn’t guarantee that your financial aid will increase, but it can help the University determine whether an adjustment is appropriate.
Consider student loans carefully
Student loans can help cover a remaining balance, but borrowed funds must be repaid with interest.
Before borrowing:
- Apply for scholarships and grants.
- Review available savings and income.
- Ask about employer benefits.
- Consider a payment plan.
- Reduce expenses where possible.
- Calculate the exact amount you still need.
Federal student loans generally offer protections and repayment options that may not be available with private loans. Private loans are typically considered after students have reviewed their federal options.
Compare interest rates, fees, repayment terms and borrower protections before accepting any loan. You are not required to borrow the full amount offered in your financial aid package.
How to create a plan for paying for college
Use these steps to build your college payment plan:
- Estimate the total cost of attendance.
- Complete the FAFSA and applicable state aid applications.
- Review your financial aid offer.
- Calculate your remaining balance.
- Apply for scholarships and grants.
- Review savings, income and family contributions.
- Ask about payment plans and employer benefits.
- Identify expenses you can reduce.
- Borrow only what you still need.
- Review your plan before each academic year.
College costs, financial circumstances and available resources can change. Revisiting your plan regularly can help you prepare for each semester.
Explore your options at UAlbany
Paying for college may require a combination of strategies. Beginning early gives you more time to research scholarships, save money, explore employment and discuss payment options with your family.
Start by estimating your expenses through UAlbany’s Cost & Aid resources. You can also review UAlbany’s College Planning Resources and learn about the different types of financial aid.
Complete the FAFSA and any applicable New York State financial aid applications before assuming you will not qualify for assistance.
Contact Student Financial Services if you have questions about college costs, your financial aid offer or options for covering a remaining balance.
Frequently Asked Questions
How do you pay for college if you don’t qualify for financial aid?
Students may combine scholarships, savings, employment, family contributions, employer benefits and tuition payment plans. Reducing expenses can also help.
Complete the FAFSA before assuming you do not qualify. If a funding gap remains after reviewing other resources, consider borrowing only the amount you need.
Can you pay for college without filling out the FAFSA?
Yes. Savings, family contributions, employment, payment plans and some private scholarships may not require the FAFSA.
However, students are still encouraged to complete it. Without the FAFSA, you may miss federal, state or institutional aid opportunities for which you are eligible.
What happens if financial aid does not cover tuition?
First, calculate the remaining balance and contact Financial Aid with questions. You can then explore additional scholarships, savings, employment, payment plans and employer benefits.
If your financial circumstances have changed, ask whether you can request a financial aid review. Consider student loans carefully only after reviewing your other options.