5 Ways to Finance a Gap Year
How To Finance A Gap Year?
Many students now opt to take at least a year to chill out and relax before going back to school after completing secondary education. Fortunately, many parents now understand why they should let their children take a gap year if they want to do so.
According to analysts, up to 30% of university students in their freshman year tend to drop out or change courses every year. This is why experts now recommend taking a gap year as a form of ‘recharging’ before a student is taken back to school after high school. It is also noted that students who enjoy a gap year tend to do better when they resume their studies and proceed to college.
Are you among those students who intend to take a gap year after your high school graduation? You could opt to travel around the country or abroad to gain more exposure on various cultures. But how could you possibly finance that endeavor? Here are five ideas that could be of help, assuming that you do not want to ask your parents to shoulder the expenses.
Save a portion of your regular allowance
While you still receive allowance from your parents in high school, start saving for your gap year plans. You should realise that saving at least several dollars each day would help you save enough money to enable you to do what you want to do on your gap year. Resist the temptation or urge to spend relentlessly and irresponsibly on unnecessary items.
Get a temporary job
It could also be the best time you find and take a part-time or temporary job. There are many earning and employment opportunities that are specifically offered to students or teens who need to earn some dollars. These could be simple but decent jobs that would enable you to generate a reasonable income. You may have to wait tables, do household chores, babysit, or assist stores.
Establish a simple home business
It could be the best time to try out your entrepreneurial skills. You could put up a small home business that may not require significant capital. Do you know how to make handicrafts? Could you make home-made soaps or candles? You could produce home-made products and sell them to earn some income online. You could also try doing Internet-based jobs like doing data entry, proofreading, or writing articles for various online sites and businesses.
It is not impossible to get your gap year sponsored. You may start raising dollars soon doing different interesting activities. One option is doing car-boot sales or joining marathons. Your parents or relatives may also agree to cover your air tickets or accommodations when you plan to take a trip somewhere.
Get a grant
You may not be aware of it, but there are several charities that finance gap-year students. To qualify for and receive such grants, you may have to justify why you need to take a break. You may also justify your planned travels to some places. Cultural exposure could be a good and acceptable reason.
Before working as a short term loan specialist, Andrew has spent a few years overseas including a gap year!
This post was submitted by Andrew Black.