5 Ways to Solve Tuition Gaps for Next Year

Jon O'Donnell Updated on April 27, 2021

It happens all the time. Aid that covered you last year —and that you hoped to have again —isn't available for the next.

For many families, when they receive their award letter for next year's aid, they find there's a difference between their budget and the tuition that's now due.

But you don’t have to set your family’s educational progress back by taking a semester off. Here are five ways to make up the balance.

1. Contact your school's financial aid office

If your family’s expected financial contribution or EFC is more than your family’s actual ability to pay, you might consider filing an appeal to your award letter or filling out a special circumstances form, even if it has been several months since you received your award.

You may be eligible for additional grants, scholarships or other aid, especially if your family has new or extenuating circumstances which make it harder for you to pay, such as large medical bills, the loss of a job, a divorce, or a significant reduction in income from last year’s tax filing.

Even if you've already appealed your award letter for the year, the financial aid office may still be able to help. Many schools offer payment plans that allow you to divide your remaining balance into smaller payments made over several months or even longer. Some schools also offer emergency loans for students with extenuating circumstances.

Be sure to call your financial aid office as soon as you realize you have a tuition gap so you have as much time to troubleshoot as possible.

2. Scholarships

Though many scholarships are only available once a year, don’t overlook additional opportunities available year-round. Many scholarships are offered multiple times a year, including the Nitro Scholarship and the $2,000 Nitro Parent Scholarship, both of which are offered monthly. Be sure to check out our database of scholarships, which includes specialized scholarships.


3. Part-time work or work-study

If your tuition gap is manageable, you may be able to pay it down with part-time work, especially in combination with a payment plan set up by your school.  Even if it's mid-year, be sure to check with the work-study program for additional opportunities. Since many students graduate in the fall or go abroad in their spring semester, there are often new positions available each semester.

4. Reduce costs

Another way you can close the gap is by reducing your bill. One option is to drop an extra class or even reduce your enrollment status to half-time in the short-term. If on-campus housing costs are the cause of your gap, moving home might be your best option to save money and stay in school.

You might also consider transferring to a community college or a branch campus closer to home, especially for your first two years of college. You can always transfer back to your college or university when you're ready for more advanced classes.

5. Private loans

If all else fails, you may want to take out a private loan to cover your balance. Though the loan is in the student’s name, a parent will likely need to co-sign for the loan if the student has no credit history.

Before you apply for a private loan, make sure you filled out your FAFSA to get all the grants you deserve.

And remember, you can always combine strategies, for instance, by dropping a class, setting up a payment plan, and taking a part-time position.

Paying for college is a year-round issue that many families face. By being proactive and exploring all your options, you can make sure the student in your family stays on track for graduation.

Published in: Private Student Loans

About the Author
Jon O'Donnell

Jon is a writer and marketer for Nitro who is passionate about bringing transparency to the student loan process along with providing families with the information needed to make smart financial decisions. He also just recently refinanced his student loans allowing him to pay them off 5 years faster all while saving an additional $152/month. As he continues to pay them off himself, he strives to help others do the same. Jon also has a long history of connecting people with educational opportunities to help them improve their careers and their overall personal finances. In his free time you can find him reading travel blogs and researching destinations around the world in search of his next adventure. Read more by Jon O'Donnell

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