Innovative Ways to Fund Your Engineering Degree
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If you are an engineer, continuing your education is one of the best ways to position yourself as marketable, employable, and well-suited for a promotion in the job market.
However, the cost of higher education is on the rise. Over the last ten years, college tuition rates have increased by nearly 30 percent at public universities and colleges.
When people think of how they are going to pay for their continuing education, they usually fall back on the traditional methods, instead of coming up with creative ways to pay. These traditional methods include things like applying for student loans and other federal loan assistance programs.
Student loans can lead to racking up significant amounts of debt and can set you back with your financial goals. In this current climate, you need creative ways to pay for your continuing education.
Here are seven creative ways Texas engineers can pay for continuing education.
1. Tuition Reimbursement
Tuition reimbursement is a fantastic way to pay for your continuing education. Many large to mid-size companies will usually have tuition reimbursement programs. If you already are working for a company, check to see if they have a tuition reimbursement policy in place.
If your company does not have a tuition reimbursement program, you can approach them about starting one. You only have to make sure that the continuing education is related to your current role.
Larger companies should be enthusiastic about implementing a tuition reimbursement program. It shows that their engineers are eager to keep up their knowledge base about industry trends and learn new, relevant information. Tuition reimbursement initiatives are also very attractive for recruiting top talent.
2. Offload Items You No Longer Need
One of the quickest ways to earn money is to sell some items around your house that you no longer need or use. You would be surprised by how much stuff you have sitting around that other people would pay good money for.
Whether it’s a deep clean in your garage or going through your old technology drawer, there is value in even the oldest items. Check out different resale apps and neighborhood Facebook pages where people sell used items.
You can save up a serious amount of money this way.
3. Try Out Pet Sitting or House Sitting
Do you love dogs? Cats, maybe? Or, do you simply love earning money by doing very little work and watering a few houseplants? Pet sitting and house sitting may be a viable option for you.
Pet sitters can earn anywhere from $50 to a couple hundred dollars depending on the owner and length of time pet sitting. House sitters can make something similar to watch someone’s house while they are away.
4. Rent Out Your House
If you own your home, you should consider renting it out for a night, weekend, or even a full week. Renting out your own home can be especially profitable if you live in a trendy neighborhood or cool city that hosts a lot of sports games, concerts, and festivals.
Depending on where you live, you can make a few hundred extra dollars a month this way.
When people hear the word “invest,” they may think it isn’t for them. They may think you need to have serious amounts of money and go through a trading or wealth management firm with high fees to invest.
That is no longer the case thanks to the rise in easy-to-use investing mobile apps.
Smart investments in mutual funds, cryptocurrency, and start-ups have the potential to earn you a big payoff. Browse the app store or research what are the best investing apps for beginners.
6. Work At The College or University
One of the more creative ways to pay for your engineering continuing education is to go straight to the source. Working for the college or university where you plan on taking your classes can save you thousands of dollars.
Many colleges and universities have opportunities for employed staff that pay for the entirety of your class or degree as long as you work for them.
7. Look for Scholarships
When people think of scholarships, they think of the big-ticket scholarships, like full rides or scholarships that cover thousands of dollars’ worth of education. People tend to think that scholarships receive so many applicants, it is not even worth applying in the first place.
That is the wrong way to approach looking for scholarships. You could be missing out on a way to pay for your continuing education in full.
There are hundreds of small scholarships available that are worth less than $500. These often receive far fewer applicants because it’s deemed too low. Some people think a small scholarship like that won’t make a difference in the total cost of continuing education.
Applying for these types of scholarships can add up in a big way if you win them. Spend a little bit of time every day applying for scholarships of all sort. You never know what you will get.
Looking for More Creative Ways to Continue Your Education?
Continuing your education is a great way to keep your skills sharp and your resume fresh if you a Texas engineer.
No matter how you choose to pay for your education, there are always new and creative ways to boost the next step in your engineering career.
If you are looking for more creative ways to pay for your continuing education, reach out to our team at PDH-Pro. we are excited to help you on your journey of continuing education.