The cost of obtaining a tertiary education is one of the most important factors which must be considered when planning for higher education.

Ideally, plans for financing should begin years ahead. In fact, some tertiary institutions require proof of financing even before students are eventually accepted. The fact of the matter, unfortunately, is that many parents and students don’t seem to include financing as part of their initial plan. Where financing is considered, most times tuition and accommodation (where relevant) are the major considerations. Maintenance costs such as books, transportation, meals and other miscellaneous items are not considered.

These costs can be very significant and so must be a major part of any budget when planning to finance your tertiary education. With the escalated cost of obtaining tertiary education, some students therefore are finding it difficult to finance themselves even from the initial period.

If you are faced with the inability to finance your tertiary education, do thorough investigation of Government and private sector agencies, international organisations, alumni associations, service clubs and other groups, which offer financing, and how they may be accessed.

Immediate funding may not be easy to access so seeking a job might be a viable option. You will gain valuable work-experience and start saving towards assisting with funding your education.

Attempting to start tertiary level training without proper financing, could result in many problems including:

. Inadequate books and other materials and equipment needed to enhance the learning process;

. Improper diet

. Insufficient funds for housing, transportation and other personal needs.

When these financial problems occur you also encounter social, psychological and other problems as you struggle to cope with the situation. Demotivation, below par academic performance and frustration may occur.

Some students try to solve the problem by accessing part-time jobs. The financial rewards, however, are usually not enough to meet your needs. Additionally, if the number of hours worked are excessive then there is not enough time to cope with the rigours of academics. This can be even more devastating if the job is some distance from home or the campus.

The result could be withdrawal from the course of study or obtaining mediocre grades.

With careful planning a student of the University of the West Indies, pursuing a Diploma in Media and Communication, manages to finance her education by personal savings obtained over a period of years and operating her own business which is a home-based typing service and public relations agency.

She provides services such as typing assignments, documents and letters, arranging events, writing press releases and articles for magazines and desktop publishing. She confesses that she finds it very time consuming and therefore does not allow the needed time for doing course work.

The fact that she operates from home and does not have to work within specified hours allowed her some flexibility. She therefore works late nights, early mornings and on public holidays.

Upon entering the University of the West Indies or the University of Technology and other tertiary institutions, you may still obtain assistance by contacting the Career Development Centre, CounseLling Unit, the Office of Student Financing or any Student Services-related departments.

Some hints for financing your tertiary education

Start saving towards your or your child’s tertiary education from very early.

Find out more about the loans that are available The Students Loan Bureau is the major source. Be sure to find out their requirements for qualifying as well as the time for application. Usually late applications are not accepted.

Find out how you can benefit from programmes such as the Jamaica Values and Attitudes (JAMVAT) and others offered by government agencies.

Check out your parents or your place of employment.

Do they give assistance for financing education of employees or their children?

Find out from the institution to which you have applied for entry if they offer scholarships and bursaries and how you may qualify for such.

While you are on campus, check the relevant notice boards, websites and offices on a regular basis. Oftentimes available assistance is not utilised by students as they fail to access the information, or just believe that they will not qualify for assistance.

. Check out the job opportunities by registering with the Placement Services.

. Create your own source of generating income.

. Check the newspapers regularly for any announcements regarding student financing.

. Remember your Guidance or Career Counsellor and Human Resources Manager can be useful sources of information.

Planning to finance your tertiary education must be given priority if maximum benefits are to be derived from a course of study. Researching, early planning and preparation are key.