This question, often times, has pretty standard answers. The student or parents will take out a loan (if they qualify and/or have a co-signer), parents may borrow against their home through an equity loan, or the student may try to work and pay the bills on a monthly basis. But what about asking complete strangers to donate?

That’s what at least two families have decided to do. Click here to read the story about Corey Walker, a NH native asking for donations to help pay the bills for him to attend Palm Beach Atlantic University. Here is the blog that Corey runs.

There is also the story of a mother who is pandhandling to pay her son’s tuition to a prestigious high school, Idyllwild Arts Academy. Her son, David, found he has an extreme passion and talent for dance, but even after a significant scholarship, he was still short several thousand dollars. There is even a website for David’s story - www.djstuition.com.

In addition to these two stories there has also been a rise in the number of students using peer-to-peer lending options. Greennote.com is a lending option that has been set up that offers the opportunity for strangers to invest in a student’s education. After the student graduates, they pay back their “lender” at a 6.8% fixed rate.

It’s no secret that the recession has had a huge effect on people’s ability to pay for college. These are simply a few of the unconventional ways people are finding to fill the gap left after financial aid.  What do you think of these options?  What would you be willing to do?

Check out their stories,

Rich