College is expensive, but it's well worth the cost if you want to increase your chance of getting a high-paying job. Fortunately, there are many ways you can pay for your education. Most students utilize multiple sources. If you're thinking about going to college, consider using the following five payment options.

1. Apply for Student Aid

Even if you don't think you qualify for financial aid, it's in your best interest to fill out the Free Application for Federal Student Aid. It generally takes less than half an hour to complete and puts you in the running for grants, loans, and work-study opportunities. Keep in mind that the FAFSA is first-come, first-served, meaning that the earlier you fill it out, the better your chances of getting aid.

2. Search for Scholarships and Grants

The best kind of financial aid is the type you don't need to pay back. Each state offers grants, which you can learn more about by contacting your state's education department. Additionally, there are various scholarship opportunities based on academics, athletics, talents, and community service. Ask your guidance counselor to help you find the best options to apply for.

3. Take Out Loans

It's unlikely you'll get enough scholarships or grants to fully cover the cost of college, which means you'll need to utilize loans. If possible, stick to federal student loans because they have perks that personal loans don't. For example., most federal loans don't require a cosigner or credit check. Additionally, they generally have lower interest rates, income-based payments plans, and deferment or forgiveness options. If the time comes when you're unable to make payments, you can always look into a student loan refinance company for financial assistance.

Although federal loans are the better option, you can also take out personal loans to cover costs that aren't related to education. Personal loans have a shorter repayment schedule, which means you'll be paying back less interest. However, you'll have to start making payments immediately, whereas you won't have to start paying back federal loans until six months after graduation.

4. Get a Job

Working while going to school may be challenging, but making the extra money can help you avoid taking out less in loans and put a financial dent in the loans you already have. For example, if you can afford to do so, you should make payments on your loans while in school, even if they are small. The interest accrues over the time you're in college, adding to the overall amount you'll need to pay back. Any portion you can pay will lessen the load later. 

Early repayment also helps you get into the habit of handing over part of your monthly earnings, making it less of a shock later. Plus, you'll get a head start on acquiring and maintaining a good credit score.

5. Apply for a Work-Study Position

Rather than working outside the campus, consider trying a work-study position. There are many perks to working at a college. First, you don't have to travel far to get from your room to your job. Second, it gives you valuable job experience. And finally, it provides you with extra funds, which can be used to pay for school-related charges.

Plus, most work-study managers understand the challenges of college. As long as you complete the work they give you, they often encourage and allow you to work on homework or study for the remainder of your shift.

Don't let the cost of college hold you back from going to school, as there are numerous ways to make it affordable. Utilize the options that work best for you to obtain the profession you've always wanted.