Using A Title Loan to Pay for Hidden College Costs

TextbooksHigher education is a highly sought after qualification for just about all young adults nowadays. Unfortunately, as time has gone on, the costs associated with a college education have increased. It’s a far cry from 20 or 30 years ago, where one could pay for their education by holding down an extra job. Even if you’ve been able to receive some form of financial aid or school loan, there are hidden college costs beyond tuition that can throw a wrench into you or your child’s college plans. There is even more extra expense if they have elected to go away to college and will need to figure out some lodging situation.

If a student is staying in a dorm, the cost of furnishing that dorm room becomes an issue. The college will provide the bed and a desk, but additional items like bedding, towels, waste baskets, etc. are all the burden of the dorm occupant. If you or your kid is planning on staying off campus, you will need to factor in the cost of furnishings, along with rents, foods, and any other living expenses associated with living in an off-campus community (such as an apartment complex). The costs don’t end there. There are textbooks, additional class fees (lab fees, computers, printers, software) and more.  This expense is all without even mentioning money for an on-campus meal plan, entertainment, a parking permit, and (if you’ve sent your child away to school) the cost associated with planning the occasional visit. It can all mount quite rapidly.

You or your child can take on an extra job to try to offset some of these costs, but there could always be situations where something unforeseen occurs, and you’ll need cash quickly. In these scenarios, car title loans might be a possible solution for funding your college expenses. After having your vehicle assessed for its value, a lender (such as Embassy Loans) will provide you with cash based upon that car’s worth. You’ll have to provide a few documents (ID, car title, etc.) and the loan is intended for short term use only, but its a way to quickly obtain the money for extra expenses without undergoing a credit check. You will still have use of your car during this time, and after you pay the money back, you’re good to go. It’s the reason so many turn to title loans when they have something unplanned come their way. It’s an effective solution that you shouldn’t dismiss without a closer look!