You can also cover costs through a home equity loan, although remember that your house serves as collateral for the loan. Top Payment Options Investigate payment options. Borrow only what you need. Most colleges offer tuition payment plans, which enable you to pay in installments and reduce your need for loans. These plans are often available at no charge, or for a flat fee that is usually lower than the charges and interest on a loan.
Some colleges accept monthly credit card payments.
If you use a credit card offering frequent flyer miles for every dollar charged, you could earn a free flight by paying tuition bills this way. Make sure you pay off your credit card balance each month, though, so you don't incur finance charges. Contact specific colleges for more information about payment options. Top Financial Aid Obligations Obligations are associated with most forms of financial aid. Make sure you and your student understand them.