Need a miracle to pay for college?
The young lady wanted a miracle! That Sunday morning she asked for prayer that her "financial needs for Bible College would be met."
A miracle you ask? Good question! She had requested my assistance with her student loan application, but I waited for three weeks for requested information to no avail. With only a week to deadline, she asked for prayer. "For what?" I wondered.
That happened 25 years ago, but student advisors at several Christian colleges indicate not much has changed. Some students still don't get it.
A post-secondary Christian education isn't cheap. If you are one who needs a "miracle" to help pay for this life-changing investment, read on. There is good news for you—provided you are willing to do your part.
The experts are unanimous: start early, read everything and stay on top of it. "The more motivated students are, the more successful they will be in finding aid," states Stephen Redekop, financial and student services advisor at Canadian Mennonite University.
Corwin Koch, Trinity Western University's associate vice president of enrolment marketing, says students must first realize why they want to attend a Christian college. "You need to determine what you wantto afford," he says. Knowing what you want and why you want it will give purpose to your search for funds.
A year before post-secondary studies begin is not too soon to start your research. What are the options? What do they cost? Are there ways to reduce costs? Where will the money come from?
Parents, summer jobs and bank loans are the easy answers to funding. What if that's not enough?
Each province offers loans and bursaries. Dalen Kroeker, dean of men at Steinbach Bible College in Manitoba, maintains that applying for these loans is a no-brainer for financially astute students. Interest-free funds with the possibility a portion will be forgiven after graduation are a good deal.
Colleges offer scholarships and more. Many churches offer small bursaries. Some foundations and organizations support post-secondary Christian education. Check out college web sites, as well as sites like StudentAwards.com.
Accessing these sources of largesse requires work. Most involve research and all are deadline sensitive. Some are contests that require longer applications. You could "earn" money for college just by getting good marks and being involved in your community and church.
CMU's Redekop recommends students explore every option, regardless of their situation. Thinking outside the box could be very rewarding. Friends and relatives may be willing to support a dedicated student, perhaps in exchange for regular e-mail updates.
Working part-time is a valid option; CMU hires about 100 students each year. For some, stretching a three-year degree to four years' time could help to free up time for a job. But be warned if you think a larger summer income will make all the difference. TWU's Koch puts it succinctly: "It's not how much you make; it's how much you save."
No matter what, recording income and expenses and trying to follow a budget are good ideas. It's crazy not to keep track of how you spend other people's money! And parents may be more willing to provide funds if you offer to provide a financial report card every term.
Are you in need of a miracle? The odds are in your favour. Miracles do happen, especially for students willing to work at it.
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