FINANCIAL PLANNING. Unless you are an accountant or financial adviser, this phrase might strike a little fear in your heart. Not Nightmare on Elm Street or Halloween fear, but, your mom is looking through your cell phone fear. It doesn’t have to! If you consider where expenses will come and plan ahead for them, planning for college can be a much more pleasant experience. Here are 4 things you should consider when financially planning for film school.
1. Will you be working while you attend school?
It is important to consider what your school-work balance will look like. Will you be a full-time or part-time student? In film school it is important to get real industry experience, whether that is through a job or an internship. Of course, it is important to make sure that school and course work are a top priority.
2. Will you receive any scholarships or financial aid?
Oh, scholarships and student loans, topics that are always at the top of the list when it comes to planning for college. Since a majority of students have loans you will have to consider whether you will be using private or federal student loans. Both have their advantages and disadvantages depending on what you are looking to get out of them.
Scholarships and grants are always something to consider as well. Between need-based and merit-based scholarships there are a lot of possiblities. There are even scholarships just for students interested in careers in the film industry. Check out our website to learn more.
3. What type of books and equipment will you need?
As you can imagine, film school courses generally don’t require your typical 800 page textbook. You will be working with high level equipment, which might make fees a little higher, but the experience gained from working with professional, studio quality equipment is priceless.
Textbooks can be expensive no matter what type of college you are attending. Consider renting or buying used textbooks. Used books can sometimes be resold for a portion of what you paid for them.
4. What will your living situation be?
Will you be moving across the country to pursue your film making dreams? Or, do you have the ability to live at home and commute to school?
While commuting can save a lot of money, it just isn’t an option for everyone. So it is important to know what your housing expenses will look like.
At your school of choice will you be living off campus or on campus? If you live on campus, does your school offer any kind of incentives like scholarships or grants for doing so?
Whether you choose to live on or off campus look for a price break down, so you can get a clearer picture of what your housing expenses will look like each year (or even each month) and then plan your budget accordingly.
Finances are just one thing that you need to plan for if you are considering attending film school. Want to learn more about what it takes to get started with your film school journey? Download our Free Application Checklist!