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Social Media Provides a Solution to Paying for College

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​According to CNN, the interest rates on subsidized student loans will increase to 6.8% in July 1, 2012. That’s double what they were before! In this economy, students are having more and more trouble paying off their college loans already, and this potential rise in interest rates will only worsen their troubles. What can college students do to counteract this rise? What can they do to afford their college tuition? College is a necessity these days, so students have to find some way to pay for more schooling than they may have in earlier decades.

According to CNN, the interest rates on subsidized student loans will increase to 6.8% in July 1, 2012. That’s double what they were before! In this economy, students are having more and more trouble paying off their college loans already, and this potential rise in interest rates will only worsen their troubles. What can college students do to counteract this rise? What can they do to afford their college tuition? College is a necessity these days, so students have to find some way to pay for more schooling than they may have in earlier decades.

One of the best tools to help pay for college is social media. You might ask, how can social media help me pay for college? Well, some of the top scholarship websites are present on the top social media sites like Facebook and Twitter. A lot of people aren’t aware of the opportunities that these sites offer students, but they should really take advantage of these opportunities.

One of the most popular scholarship website is Zinch. On Zinch, you create a profile and the system uses all the information you provide to see if you qualify for certain national scholarships. Zinch advertises that users get personalized matches to over $1.9 billion in scholarships. There are some scholarships that are specific to Zinch and some that are national competitions and awards.

One of the most convenient things about Zinch is you can connect to scholarship opportunities through their Facebook page. If you sign up, you can get updates in your newsfeed about upcoming deadlines for scholarships that you apply for and some of the contests involve posting on specific Facebook pages.

There are so many excellent opportunities to earn money toward your college education but is it necessary for the system to get this far? With student loans rising each year, how will students be able to afford to live after graduation with a downtrodden job market? If the student loan costs continue to rise there is a possibility that high school graduates won’t attend college. How will the downward spiral of student loan borrowing be affected if the student population decreases? With no education and a salary too small to even afford groceries, is the system really working?