8 alternative ways to pay for college -- Page 2

3. Go where you're wanted
Somewhere out there is a college or university that's dying to have you as a student. Find that school, fire off an application and watch the cost of your college education drop.

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"Every student is a star at the right college," says Ray Loewe, president of College Money, a Marlton, N.J., financial planning firm specializing in helping parents pay for college.

And star students get deep discounts for their education. A college that really wants you will find the aid and scholarships to keep you.

"Colleges know what they want, and if you fit their criteria, they're willing to pay," Loewe says.

The trick is finding the school that considers you a star.

Peruse college guides. Do your grades and SAT scores match or exceed the average marks of the current student body? Does the college offer the courses you want?

If so, this could be the school that rolls out the red carpet for you.

"Choose a college where you fit in the top 25 to 30 percent of a class," Loewe says. "Obviously, the higher you are the more the school wants you and the better position you're in."

Not sure where to start your college search? Begin by checking out smaller, regional colleges in your area. An excellent but less-known college may be searching for a student just like you.

4. Choose a tuition-free school
Overwhelmed by tuition prices and the prospect of paying massive student loans after you graduate? Why not attend a tuition-free school? You get the college education you want without the hefty price tag. The catch? You may have to work. Some schools require students to work 10 to 15 hours a week on campus and in jobs related to their majors.

Tuition-free colleges include The Cooper Union in New York, N.Y.; Webb Institute in Glen Cove, N.Y.; Berea College in Berea, Ky.; College of the Ozarks in Point Lookout, Mo.; and Alice Lloyd College in Pippa Passes, Ky.

5. Get a sponsor
Can't quite swing the cost of college? Get a little help from a rich uncle. MyRichUncle provides money from private investors to college students who need help with education expenses.

In return, a student agrees to pay a fixed percentage of their gross future income for a fixed period.

"They pay less when they make less," says Raza Khan, managing director of MyRichUncle. "They pay more when they make more."

This is an education investment not a loan, so there's no interest to pay.

For every $1,000 of financial help, a student agrees to pay 10 to 40 basis points of future income. A basis point is one one-hundredth of a percentage point, so someone who receives an education investment of $10,000 might agree to pay anywhere from 1 to 4 percent of future income.

Payment periods are 10 years for graduate students and 15 years for undergraduate students. Payments begin six months after graduation.

Once the payment period ends, a student's obligation ends even if you end up paying back less than you were given.

"We're actually taking a chance on a student," Khan says. "If a student succeeds, we succeed."

6. Lock in tuition
Can't stand the way college tuition keeps shooting up? Consider locking in a single-tuition rate for four years.

The tuition rate you pay as a wet-behind-the-ears freshman is guaranteed until you graduate. No more losing sleep over skyrocketing tuition costs.

Colleges with locked-in tuition programs include Anna Maria College in Paxton, Mass.; Baylor University in Waco, Texas; Centenary College of Louisiana in Shreveport, La.; Concordia University in River Forest, Ill.; Hardin-Simmons University in Abilene, Texas; Huntington College in Huntington, Ind.; Urbana University in Urbana, Ohio; the University of Charleston in Charleston, W.Va.; and New York's Pace University.

Some schools offer guaranteed-tuition programs for free. Others charge fees. Be sure to check.