Funding Your Education with Structured Settlement Money – Ways to Save

Cashing in a Structured Settlement for Education

For many of our sellers at DRB Capital, getting a higher education is an important goal. We think everyone who wants a better education should have all the resources available to them and you can absolutely contact us to help you cash out some of your structured settlement for education either for yourself or a loved one. But before funding your education using a structured settlement, you should decide how much you’re going to need, there are important ways you can save money.

Online classes are growing in popularity every year, both for college students and for younger students. Internet-based education is both convenient and holds the benefit of generally costing less than going to an actual campus, particularly for college education. If you want to get your degree, but aren’t sure what you want to study, or can’t afford taking a lot of classes, taking them online is a great way to get in your basic credits without having to spend a lot of money. Even if you eventually want to go to a traditional college, taking some courses online can be a big savings—just make sure to check whether the online courses you’re taking can be later transferred towards your college degree. For students looking to finish high school or get a better education generally, there are a lot of online “home school“ options available too.

Another option is community college. Community colleges offer classes at a low cost, and the credits will transfer almost anywhere you want to go to school later on. In many cases community college classes have a much more flexible schedule, which is an important thing for people who are caring for children, or who are working. The combination of convenience and low cost makes them a great option for many of the same reasons as online classes.

Think also about the different expenses that you’re likely to face if you decide to cash out a structured settlement for education. Tuition is only one of the expenses—there are also books, fees, and if you’re living on-campus, a room or apartment and a meal plan. By staying at home, you can minimize the last two; you can cook for yourself much more cheaply, and your rent will probably be lower as well, if you’re living with family. Some textbooks are now available as eBooks—which are generally cheaper than hard copies and which you can keep on a tablet or even a laptop. You can also save money by searching for used books on the Internet and many colleges offer textbook rentals for a fraction of the cost. You may be able to use an older edition of the book being used in class—these could be much, much cheaper than the current edition; just make sure to ask your professor if you can use the older edition and that the changes in the new edition are not necessary or important to your learning experience.

With these strategies, not only can you get a great education, but you won’t have to break the bank to do it! If you do find yourself needing extra money for funding your education, contact DRB Capital, and we can help you work to get some of your structured settlement or annuity payments as one lump sum of cash. If you or your independent advisor have any questions about how you can get a lump sum for your structured settlement, please call us at 877-894-4541.

Read more: Education is getting more and more expensive, but you can use structured settlement funding for education.