Whether you’re heading to college straight from high school, supporting a child through their academic journey, or going back to school as an adult, one thing’s for sure: college costs add up. But with some planning and the right financial tools, it’s possible to pursue higher education without overwhelming debt. Here’s how to approach student loans and other funding options at every stage of life.
For Students: Start Smart and Borrow Wisely
If you’re a student preparing for college, your best financial move is to start planning early. Look into federal financial aid (FAFSA), scholarships, and grants—these can help significantly reduce the need for loans. When loans are necessary, start with federal student loans before turning to private ones. Federal loans typically offer lower interest rates and more flexible repayment options. And remember, just because you’re offered a certain amount doesn’t mean you need to borrow the full amount.
Quick tip: Open a dedicated savings account with USPS FCU to stash any income from part-time jobs, gifts, or side gigs—those small amounts can really help cover books and expenses.
For Parents: Balancing Support and Stability
As a parent, it’s natural to want to help your child pay for college—but not at the expense of your own financial health. Consider 529 college savings plans, which offer tax advantages, or Parent PLUS loans, which are federal loans available to parents of dependent undergrads.
If you’re planning to cosign a private loan for your child, make sure you understand the risks and your responsibility if they’re unable to repay. It’s important to have open, honest conversations about finances and expectations.
Pro tip: USPS FCU offers financial counseling and loan options to help families make informed decisions together.
For Adults Going Back to School: It’s Never Too Late
Thinking of going back to school to change careers or advance your education? You’re not alone—and there are more resources available today than ever before.
Check if your employer offers tuition reimbursement. Also, look into grants and scholarships designed specifically for adult learners. You may qualify for federal aid, even as an independent student. And don’t forget to explore community colleges or online programs, which can be more affordable while offering flexibility for working adults.
Helpful idea: Consider a personal education loan from USPS FCU to help cover tuition and materials with competitive rates and flexible terms tailored to your life stage.
Learn more about student loan consolidation and how you can get a rebate of up to $500 when you refinance before August 30, 2025.