Education can be expensive, so planning can be very useful (and necessary) to making long-term professional goals become a reality (see also: Finance).
There are three primary ways to help subsidise the cost of your education:
- Scholarships. These are awards given to students based on prior achievement and indicators for academic success. Many scholarships are available through public and private sources from diverse industries, civic organisations, and research institutions.
- Grants. Grants are often awarded based on financial need. These awards do not need to be repaid. As a professional basketball player, your Sports Ministry and/or your National Federation might have specific grants for athletes.
- Federal/State/Private financial aid. Many public and private sector bodies provide access to educational loans. Federal, regional, or state governments may have loan programmes that offer students financial support during their education and that money must be paid back (with interest) in the years following completion of your degree.
- Private Banks and other lenders. They also provide loan opportunities. These opportunities vary among financial institutions and interest rates may be higher than government- sponsored loans.
While financing your education may seem like a challenging task, it should not become a barrier (or an excuse) to not pursuing your goals. There are abundant opportunities available to students. With some research and thoughtful planning, you can make sure that money does not interfere with your professional goals.
Your education is an investment – it is an investment in your career, in your personal development, and in your future. Starting to invest in (or save for) your education now will set you up for success after your basketball career has ended.