The college will help the student find a part-time job on or off campus. If possible, students are placed in jobs related to their studies or career goals. Students that participate in Work-Study programs receive work experience, which will put them ahead of the game when they begin their search for a job. Another benefit many Work-Study participants realize is that of reduced student loan indebtedness. If a member state does not have a specific graduate, professional, or undergraduate program, or has limited availability of a program, a student from that state may enroll in that program in another member state and be eligible for tuition assistance.
Participation is limited and selective.
Students can use their earnings to pay for their education and obtain valuable work experience at the same time. The Coop Program may extend the student's graduation date, but the benefits of the valuable work experience and increased employment opportunities seem to outweigh the lengthened time of education. Another benefit for Coop participants is reduced student loan indebtedness, if the student uses the wages earned to live on rather than relying heavily on student loans. Terms and conditions vary according to each institution's policies and guidelines. In addition, many financial institutions offer home equity loans, which can be used to finance education-related expenses and may offer tax advantages to borrowers.