Paying for College Without Parents: Smart Ways To Cover Costs

Over the past 30 years, college costs for both private and public schools have essentially doubled, even after adjusting for inflation, according to The College Board.

As costs have increased, paying for college without parents has become more challenging. Unfortunately, not every student has a parent or family member who can chip in. 

Students going it alone still have options. Many strategies can reduce college costs or, in some cases, cover them entirely. Here are some options worth looking at if you're paying for college on your own.

Current private student loan rates

How to pay for college without parental support

When you're paying for college on your own, it's always best to explore the most affordable options first, including scholarships, grants, and federal financial aid. You can also work while in school or explore private student loans. Let's take a look at each of these options in more detail. 

Fill out the FAFSA as an independent student

Completing the Free Application for Federal Student Aid (FAFSA) should be your first move if you’re covering college costs on your own. With this one form, you can apply for all available types of federal student aid, including loans, grants, scholarships, and work-study programs. 

“When funding your education entirely on your own, the very first step is to complete the FAFSA as early as possible,” says Bethany Hubert, a college lending and financial aid specialist at Going Merry by Earnest. “It unlocks access to need-based grants, work-study opportunities, and federal student loans with built-in protections like income-driven repayment and forgiveness options. It is also required for most state, institutional, and need-based aid programs, and many schools require it for certain merit scholarships.”

The amount of financial aid you can qualify for depends on your school’s costs, your year in school, and your dependency status. While there are no FAFSA income limits, some types of aid are also based on financial need.

If you’re considered to be a dependent of your parents or anyone else, you’ll need to provide information about their income, which can affect how much aid you qualify for.

Independent students don’t need to provide this information and can qualify for higher amounts of aid. However, you’ll need to meet specific legal requirements to be considered independent, and that doesn't just mean your parents can't help you.

“Parents simply being unwilling to help pay for college won’t be enough to qualify you as independent,” says Jack Wang, a college aid advisor at Innovative Advisory Group. 

In order to be considered independent, you must meet one or more of these criteria: 

• Born before Jan. 1, 2002
• Married (not separated)
• Graduate or professional student
• A veteran or member of the U.S. armed forces
• An orphan, ward of the court, emancipated minor, or in a legal guardianship 
• A current or former foster youth
• Parent or someone with legal dependents of their own (other than a spouse)
• Being unaccompanied and homeless (or at risk of becoming homeless)

In some cases, there can be dependency overrides that allow you to switch your status from dependent to independent even if you don't meet any of these criteria. These are handled on a case-by-case basis by your school.

“Sometimes there are underlying circumstances — parents incarcerated, court protection from abuse orders against the parents, abandonment — that can be used to justify a dependency override,” says financial aid expert and author Mark Kantrowitz.

Apply for scholarships and grants designed for independent students

Scholarships and grants — both types of financial aid that don’t need to be repaid — should always be your first option as a college student, whether you’re independent or not. These can come from your school, private organizations, trade groups, community groups, or even your employer, in some cases. They can be need- or merit-based.

“The smartest first step is to exhaust all forms of 'free' aid available to you,” Hubert says. “Apply for as many scholarships as you can, especially departmental, program-specific, and local awards, which often have less competition than national scholarships.”

Some organizations and schools may offer scholarships and grants specifically for independent students. Some options include the Fostering Futures Scholarship for former foster youth in Michigan, the Arkansas Single Parent Scholarship, and the Graydon and Myrth Fox Scholarship for veterans.

Work while attending school

Working during school and using your pay to cover college costs is another option if paying for college without parents. 

You can opt for a part-time job outside of school hours, or participate in a federal work-study program if you qualify. Work-study is a form of federal student aid that allows you to work on campus or within the community to earn funds for your education.

Take note, though: The income you earn can impact how much federal aid you’re eligible to receive. However, as long as it’s “modest, part-time earnings,” the effect shouldn’t be significant, Hubert adds.

“The FAFSA includes an income protection allowance that shelters a substantial portion of a student’s income from affecting aid eligibility,” Hubert says. “Federal work-study income also does not count against your aid eligibility, making it the most advantageous way to earn money while in school.”

You'll also want to think about how work will affect your ability to focus on school. Make sure you have ample time to study and complete the work required by your program before taking on a job.  

“It's a delicate balance between working to earn money and maintaining good grades,” Wang says. “While a student can make money at a job, that may cause the student to slip in grades, which may cause that student to lose an academic scholarship. Overall, that may put the student further behind financially than they expected.”

Consider affordable colleges or community colleges

Not all colleges and programs are priced equally, so if you’re paying for college on your own, doing your research is critical. 

“If students have to pay for college on their own, they should absolutely be shopping around,” Wang says. “Sticker prices of colleges can vary significantly, but also how much aid colleges give out can vary significantly. Some are far more generous than others.”

In terms of costs, your best bets are going to be public, in-state schools, junior colleges, and community colleges. Often, you can save a lot of money by completing basic courses at a low-cost community school and then transferring to a larger, four-year school for more specialized coursework later on. 

“School costs can vary dramatically — sometimes by tens of thousands of dollars,” Hubert says. “Treat school selection like any major financial investment. Shop around, compare aid offers, and negotiate aid packages where possible.”

Use private student loans if needed

Private student loans are another option, but they should be a last resort you use to fill in any gaps that scholarships, grants, and federal loans won’t cover. They tend to have higher interest rates than federal loans and less flexible repayment terms, so minimizing how much you borrow is important.

You should also shop around and compare loan offers if you are taking out private student loans. Look for rate discounts (often you can get one for setting up autopayment), and consider fees and hardship options, too.

Keep in mind that private student loan lenders check your financial credentials, and there are fewer options for low-income student loans or student loans for bad credit.

You may want to bring in a cosigner when applying for private student loans. This can help you secure better rates and terms.