- Graduate in three years instead of four
- Some colleges offer accelerated programs that allow you to
graduate in three years instead of four. This can save you a whole
year of tuition and related expenses. Some colleges offer programs
that combine an undergraduate/graduate degree in five years. The
main drawback is that you will have to take a heavier course load
each semester and may have to forgo summer breaks to meet academic
obligations.
-
- Earn college credit while still in high school
- By taking advanced placement courses or special academic exams,
you can earn college credits while still in high
school. This means that you may be able to take fewer classes
in college, saving you money. Advanced placement courses also
impress admissions committees.
- Consider the total cost
- Don’t just look at the cost of tuition when evaluating a school.
Keep in mind other factors. If a nearby school would enable you to
live at home, it might be much less expensive than a distant school
with cheaper tuition. If you wouldn’t need a vehicle at one school,
it might be much less expensive than on that would require your own
transportation.
- Choose an affordable school
- Quality of education is not directly related to the cost of
education. Usually you have several options cover various price
ranges. State schools are partially funded by the government, so
they are often less expensive.
- Consider changing your residency
- Most state schools offer greatly reduced rates for residents.
Depending on what is required to establish residency, it might be
worth moving before starting college in order to get the less
expensive tuition. Many states, particularly several in the
Midwest with declining populations have very short time requirements
for residency. If the school you wish to attend is in another
state and the out-of-state tutition is very high you may want to
consider moving in with a relative who lives in the state during
your senior year in high school.
-
- Look for scholarships
- Many scholarship programs have been cut back in recent years,
but there is still money available. Check with your financial aid
department. Also check with your professors. They often know of
scholarships that are handled on a departmental level instead of
through financial aid.
- Go to school in Canada
- Canadian schools generally offer an excellent education at a
price comparable to that of an average four-year public college in
the United States. And in the global economy, many employers tend to
look favorably on studying abroad. Your child will even be eligible
for need-based federal student loans (but not grants), as well as
the two federal education tax credits--the Hope credit and the
Lifetime Learning credit.
-
- Check to see if your employer offers any educational assistance
- Does your employer offer any educational benefits for the
children of its employees, like partial tuition reimbursement or
company scholarships? Check with your human resources manager.
-
- Consolidate college debt
- Once you’ve graduated look for programs that will let you
consolidate any debt that you have at a low interest rate. This will
allow you to put more money toward the principle and pay it off
quickly.
- Think about cooperative education
- Cooperative (co-op) education is a type of education where
semesters of course work alternate with semesters of paid work at
internships. Although a co-op degree usually takes five years
to obtain, you will be earning money during these years that can be
used for tuition costs. You will also gain valuable job experience.
-
- Enroll in a community college, then transfer to a four-year
college
- One guaranteed way to cut college costs is to enroll in a local
community college for a couple of years, where costs are often
substantially less than four-year institutions. Then, after two
years, you can transfer to a four-year institution. Your diploma
will be from the four-year institution, but your expenses won't.
Before choosing this route, though, make sure that any credits you
earn at the community college will be transferable to another
institution.
- Consider distance learning
- Taking courses on-line is a trend that's here to stay, and many
colleges are in the process of creating or expanding their
opportunities for distance learning. You might be able to take a
year's worth of classes from home and then attend the same school in
person for the remaining years.
- Live at home
- It's not everyone's dream, but attending a nearby college and
living at home, even for a year or two, can substantially reduce
costs by eliminating room-and-board expenses (though you will incur
commuting costs). This arrangement may work out best at a college
that has a student commuter population, because the college is
likely to try to meet these students' needs. One plus of living at
home is that there is less distraction and you may find it easier to
concentrate on your studies.
-
- Take a summer job
- Getting a summer job that can give you lots of work hours and
can significantly reduce the amount you need to take out in student
loans. You have to save the money you earn in order to have it
available for school expenses. If you can find a job that is related
to your area of study, it will not only help you financially, but
help make you a better student as well. Ideally find a job where
they can use your help when you are on spring and Christmas break.
- Try to get a job tutoring
- Work study usually isn’t at a very high pay rate, but getting
paid to teach your favorite subject will often make you a better
student while giving you some extra money for expenses.
- Work part-time throughout the college years (within limits
established by your program of study)
- Part-time work during college can help you save money to cover
some costs, though working during school can be both a physical and
emotional strain. One option might be to focus on school for the
first two years and then obtain a part-time job in the remaining
years.
-
- Leave your car at home
- You may not really need a car while living on campus, there is a
good chance most places will be within walking distance. Use
public transportation and you will have friends who have cars.
- Buy used books when available
- College textbooks can be very expensive, expect to pay from
$300-$800 per semester. There are several options for finding
books at a discount price, 1) get to campus before the semester
begins and be first in line at the bookstore to get the used books.
2) Find out the ISBN for the books you will need and find them
on eBay, Amazon, or other online college textbooks suppliers,3)
check for bookstores that are off campus, they often sell books at a
lower price. 4) check with classmates to see if they have the
books you need from past semesters and would like to sell them or
better yet just let you borrow them. 5) At the end of the
semester you can sell your own books on eBay or Amazon, to the
college bookstore or to fellow students.
|
|
