A guide on selling structured settlement payments & obtaining scholarships to cover college expenses

Going to college is a major milestone, but it's becoming increasingly difficult for students to afford higher education. Many students face financial difficulties, despite the availability of almost 2 million private scholarships. As a result, students are looking for alternative ways to save money and pay for college tuition and other expenses.

According to recent statistics, 58% of college students used scholarship funds to cover their tuition and fees in 2020. However, this still leaves a gap for those who aren't eligible for scholarships or can't cover college costs with that money alone. To bridge this gap, it's crucial for students to be aware of options such as selling payments from a structured settlement, which our team at Dakota Funding can help with.

A structured settlement is a legal agreement that ensures the distribution of tax-free payments for those individuals who have been injured. Cases involving personal injury may result in a structured settlement, instead of a lump-sum settlement offer, because interest rates and tax liability make it a more advantageous option.

Even if the structured settlement made sense when the settlement was negotiated, the structure of the annuity payments might not offer the flexibility prospective students need to cover college tuition and costs. They need the money now. That’s why they may consider how to sell payments to supplement scholarships and cover other unexpected costs associated with attending college.

At Dakota Funding, our knowledgeable team of experts is here to help our prospective clients understand the process and how selling those payments might affect the structured settlement now and in the future. We answer all those burning questions and walk our clients through the entire process to ensure that their best interests are represented.

We even cover the processing fees and take care of the approval process to ensure the money is available as quickly as possible to cover those college costs. If there was ever any doubt about paying for college, it’s time to call us today to get a free quote. We customized each process to meet the needs of our clients, and we focus on delivering the needed college funds as quickly as possible.