It’s never easy to ask people for money, but honestly one time you can do so and not feel too weird about it is when you’re going to college. Your friends and family know how expensive it is, and many will be happy to help you get there if you ask in the right way. So read on to learn how to ask for money from friends and family for college.
How to Ask for Money From Friends and Family for College
Before you get your hand out, take a moment to learn the best way to ask for money that will get you the response you want.
1. Ask for Money Instead of Gifts
One easy way to get cash gifts is to ask for money instead of other gifts on occasions where you would expect gifts in the first place.
For example, this could be your birthday.
You can let people know that you really need money for school. Don’t demand it, but just drop a hint.
Chances are, you will get money for college instead of some knickknack that you really don’t need.
Again, don’t expect it and if you’re having a party where invitations are sent, don’t demand it on the invitation.
If you’re just graduating from high school, this is a great time to make it known that you need college funds and not an alarm clock.
Your folks can help you out by letting people know.
2. Tell Them the Truth
Sometimes it is easier to just go with the truth.
If you decide to approach a friend or family member and ask them for money, just tell them you’re having a hard time coming up with the necessary funds to pay for school.
You’ll be surprised just how many people will want to help when it is a worthy cause.
Just be sure that any money they give you actually goes towards your college education and not some shiny new object.
You can even show them a statement or receipt with a big thank-you written on it, so they can see tangible results of where their dollars went.
3. Start a GoFundMe Account
If you really want to make it easy for friends and family that live far away, and even strangers to help you cover college costs, consider setting up a GoFundMe account.
Keep in mind, you can’t just say, “Yo, I need cash for tuition.”
You’ll need to come up with a compelling story that makes people want to give to your cause.
You’ll be surprised how many strangers there are that are looking to give money to complete strangers if the cause is right.
Take the time to talk about your background, your goals, hopes, and dreams, and why this money will help get you to where you want to be.
Gift givers want to be inspired, so inspire them.
Then send a link out on all your social networks and ask your friends to retweet or like the link.
That will get even more eyes on it.
4. Keep in Mind Your Relationship
The truth is, not all of your relatives are that close to you.
If you have a cousin that you haven’t seen in ten years, they are going to be less excited to give you a gift of money.
If, on the other hand, you have a grandparent that you are super close to and has practically raised you, then they will be very invested in your future and be much more willing to give you extra money to get you through college.
Chances are they will be happy to forgo the traditional gift in lieu of cash to help with college expenses.
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5. Request a Loan Instead of a Gift
If a family member isn’t willing to give you money, they see if they will loan you money instead.
If the answer is yes, be sure to come up with a payment plan ahead of time and do write up an agreement, so everyone is on the same page.
Then be sure to actually pay this money back once you finish school.
View this loan like any other student loan and don’t default on it.
6. Be Sure to Have a Plan
Before you ask someone for college money, be sure to have a plan.
Know how much money you need.
Know what this money will cover – which expenses.
Be ready to explain why you need this money and if it is a loan, have a plan to pay it back.
Don’t just go in blind.
Show the person you want to give you money that you have thought all of this through completely.
It will make you seem much more responsible and they will be more willing to help you out.
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To Sum it All Up:
It’s never easy to ask someone for money, but if it is for a good cause and you show that you have a plan, then you’re a lot closer to getting a yes. Most people would rather give you money for college than buy you something silly anyway. Just be tactful when you ask and don’t demand or expect it.