A college diploma is extremely important and powerful. With it, you can open doors to countless opportunities, increase your earning potential, and establish a network of fellow alumni to help achieve your lifetime goals. Nevertheless, obtaining a college diploma is not free. With the expense of higher education at an all-time high, MCU has some helpful tips for current or future college attendees to make getting your degree more affordable.

Fill Out Your FAFSA: The first and most important step to an affordable education is filling out your Free Application for Federal Student Aid (FAFSA) form and submitting them before federal, state, and school deadlines. Your FAFSA form will determine how much government aid you will receive, as well as your Estimated Family Contribution, or EFC. If you do not fill out this form prior to each year you plan to attend college, you will be unable to get government aid. In addition, private student loans would be difficult to obtain, since they rely on your EFC number to determine a loan amount. (Make sure you visit fafsa.ed.gov for more information on government aid.)

Apply for/Participate in Work Study Programs: For students attending college full-time with no full-time work obligations, work-study programs allow students to receive additional aid for working a certain number of hours weekly. Work-study programs typically employ students in the school's library, fitness center, or other student centers. These programs are great for students; however, they provide only a small amount of aid.

Ask About Payment Options: Once you choose a school to attend, the school will send you a bill for your semester or full year's tuition, room and board, and other fees. Once you receive this bill (or even before), contact the school's financial aid office, and find out if the school offers alternatives to paying the full cost of attendance prior to the beginning of the academic year.

Seek Low-Cost Private Aid: For most students, private financial aid from reputable financial institutions (like MCU!) is an easy and affordable option. Usually with a low fixed rate, private aid covers the total cost of your EFC, and is sent directly to your school prior to the beginning of the academic year. Some private aid can cover the cost of books and other school-related expenses as well.

Find out how MCU can help you pay for your college education with an Education Assistance Loan (EAL). With an EAL from MCU, you can earn your diploma and be on your way to a bright future!