- Posted by NateKragness on September 29, 2009
If you're already enrolled in a college or university, I will show you how to earn $1,000 per year in free tuition money for continuing to do what you're already doing. If you have been thinking about taking classes, or have an interest in investing in your education, you will receive $1,000 for completing one term of coursework at a college or university. Compare this with the full-time tuition rates of a local community college (less than $900 where I live -- your mileage may vary). In my case, I'm actually getting paid to further my own education. I love it!
Here's how it works:
Bank of America offers a credit protection plan on their credit cards that pays you $500 for either (a) enrolling in school full-time (12+ credits), (b) getting a 3.6+ GPA for the previous term, or (c) graduating with a degree (like an AA or BS, etc). You can make two claims per year, which translates to $1,000 total. Since there's also a $20 fee per month for the credit protection plan, you want to plan carefully so you only have the credit protection plan active when you need it. Also, you must have the credit protection plan for at least 30 days before you can make your first claim. Follow these steps to maximize your earnings:
- Get a Bank of America credit card. If you don't have one already, click here.
- Call customer service, and sign up for the credit protection deluxe plan. It should cost $20 per month. Make sure to do this at least 30 days before you plan to make your first claim.
- If you aren't enrolled in school yet, you'll want to get an acceptance letter; make sure its dated at least 30 days after your enrollment date with the credit protection deluxe plan. Once you're accepted, call customer service for instructions on where to send your admission information and upcoming class schedule. You need to register for at least 12 credits, which will earn you a $500 statement credit for enrolling in school full-time. When you complete the term, send in your grades; this qualifies as the second claim, as long as you received a 3.6+ GPA for the term, and you'll get a $500 statement credit. Skip to step five.
- If you are already taking classes in school, activate the credit protection deluxe plan at least 30 days before the end of the term. Let them know you'll be completing a term soon, and ask for instructions on how to send in your transcript. Remember, you need a 3.6 average GPA for the term, and at least 12 credits. After finishing your current quarter ($500), register for and complete another term, and send in your grades again. Collect your other $500 and move on to the next step.
- As soon as you receive the second $500 credit to your account, you may cancel the credit protection plan, since it costs $20 per month and you don't need it anymore. If you plan carefully, you should pay for only 4-5 months of the credit protection plan, meaning in four months you earn $900+ for taking some courses at a local college.
This is obviously a great deal if you're already taking classes, since its a free $1,000 in tuition money for doing what you're already doing. Even if you weren't thinking about school at all, a free $1,000 in college tuition provides an excellent opportunity to invest in your own personal education at a subsidized rate. Also, many colleges have a diverse range of courses available, so you have the opportunity to focus your education in whatever direction you think will most help you as an individual, personally or professionally. And using free tuition money to educate yourself is one of the best investments you will ever make.
Get the Bank of America credit card. follow this guide, and you're on your way to a free, quick and easy $1,000 in college tuition. Enjoy!