10 Creative Ways to Save on College
In the process of obtaining an undergraduate degree, are you seeking for college savings? College savings strategies that are out of the ordinary and unorthodox will be discussed in this blog.
It is possible that you will save $10,000 or more if you implement just a handful of these suggestions.
Due to the constant evolution of the higher education sector, students might find discounts in the most unlikely of locations. For those who are prepared to explore and challenge traditional ideas, as well as to delve a bit deeper.
College tuition is increasing at a faster rate.
College expenditures have increased at a greater rate than the prices of gasoline, eggs, houses, and gold during the previous 30 years. Every business, including construction, has its share of innovators who are continuously looking for new methods to accomplish things more easily and for less money. Construction is no exception.
In this piece, we’ll go through ten of the various strategies we’ve identified to help you save more money for college. If you follow our recommendations, you will be able to get your college degree for far less money.
1. Community colleges are 78 percent less expensive than four-year universities.
We’ve long urged students to choose community colleges for a variety of reasons, including the following:
a) If you are unsure about your academic direction
For young people who aren’t sure what they want to study in college, community college is an excellent option since it allows them to complete their general education requirements at a lesser cost. If your kid does not intend to put up the necessary work to complete a college degree, do not send them to a university or community college. This is a waste of money as well as a source of aggravation for students and teachers who are really interested in obtaining an education.
b) If you are having difficulties in school
Courses like 092 college preparation math or English are often offered at community colleges as remedial courses. Furthermore, with some individual coaching, even failing students who are willing to put in the effort may succeed and progress to higher-level courses. The Atlantic Magazine reported that more than 40% of high school students who enroll in community college must take a remedial or catch-up course in at least one topic, citing research.
b) They provide lower class sizes.
As a side note, we sent all of our children to community college classes while they were in high school (dual enrollment), and we cherished the fact that the class sizes were small (typically less than 30 students) and that the classes were taught by tenured professors rather than graduate assistants.
c) They help students save money on tuition.
This is a significant variation in tuition costs. You may save anywhere from 40 to 77 percent on in-state tuition at a state-run university when compared to the tuition at a state-run community college in the same state.
When it comes to accepting transfer credits, we’ve seen a significant increase in the collaboration between community colleges and universities in our local region over the last several years. In any case, it’s always a good idea to be proactive in communicating with a potential 4-year school about your goals. If financial independence is a priority, starting at a smaller school is a MoneySmart choice.
Tuition at a number of different state schools and community colleges is compared.
Check with the schools in your region and report back to us on your findings.
Arizona State University: Annual Tuition: $11,000 divided by 30 credits is $366.66 per credit.
Arizona’s Maricopa Community Colleges charge $84 per credit hour. 77 percent of the cost is saved.
The University of Idaho at Boise State charges an annual tuition of $6,876 divided by 30 credits, which is $229.2 a credit.
The cost of a credit hour at College of Western Idaho is $136. Savings of 40% are possible.
TX: Angelo State University-TX: $7,802 divided by thirty equals $260.00.
Howard College in San Angelo, Texas, charges $77 per credit hour for classes. Savings of around 70%
In Pennsylvania, Penn State University is worth $16,572 divided by 30 is 552.40 per credit hour.
A credit hour at the Community College of Philadelphia costs $153 dollars. 72 percent of the money saved
e) Some community colleges now offer four-year degree programs as an alternative.
Are you aware that certain community college systems have been accredited to provide four-year bachelor’s degrees to qualified students?
See which states have recognized community colleges to provide four-year degrees in the following list: 22 states This may not seem to be a ground-breaking concept, yet it is in fact such.
Considering that community college tuition is often 40 to 77 percent cheaper than local university tuition, this is an excellent alternative for those who wish to graduate with no student debt in hand.
The popularity of this concept is growing; yet, as you would anticipate, it is also encountering some strong pushback from colleges, which see this rivalry as a loss of money. State regulations regulate the quantity and/or kind of 4-year degrees that community colleges are permitted to award.
Explore the growing push toward bachelor’s degrees earned in community colleges.
— Article from HechringReport.org published in 2014.
– PewTrust.org published an article in 2018 titled
2. Save money by enrolling in Advanced Placement or Dual Enrollment courses.
When students are enrolled in high school courses, many institutions provide them with the chance to earn college credit.
There is also little out of pocket expense to get the credit; sometimes it is only a test charge of roughly $80; other times there is no money at all.
Students from other school districts are able to enroll in certain courses at a local community college while continuing to attend their high school’s curriculum.
This option for dual enrollment is becoming more popular. If your high school offers these options and your student can graduate with between 15 and 30 college credits, they can save a significant amount of money by deferring college tuition for a semester or even a full year. If your high school does not offer these options, your student may be unable to defer college tuition.
3. Accelerated Learning – 22 months from start to finish.
Two years ago, we met a super-smart mother who guided her then-15-year old son through the process of earning his bachelor’s degree in 22 months.
In order to speed up his degree path, he completed series of CLEP and DANTES examinations and passed them via Charter Oak College’s approved online program.
His degree was just $3100, and he subsequently went on to law school, which was also only $3100. He is presently employed as an assistant district attorney in the state of Texas.
See this page for additional information on the program, including an exclusive discount code (please note that we do earn a small commission if you decide to join up for the program, but we honestly feel that this program is well worth your time if you are a family trying to save money on college).
4. Military academies provide free educational opportunities.
Many persons (both children and adults) who have attended and graduated from our country’s military schools are familiar to us. It is not an easy route, but it may be very profitable in the long run. According to some estimates, the value of an academy education is between $250,000 and $350,000.
The majority of applicants begin preparing for college applications during their freshman or sophomore year of high school. If you want to be considered for nomination by your United States Senator or Congressman, you must meet a long list of standards that must be completed. The following is a list of prerequisites that was last updated in April 2017: Document from the Congressional Research Organization (pdf).
After graduation, cadets are obligated to serve for a certain period of time in the military, in addition to the rigorous academic and physical regimens that they must follow.
It is a wonderful honor and pleasure to be appointed to any of our military academies, and even greater honor to serve our nation. If you have a kid that is dedicated to this aim, please do all in your power to assist them in preparing for this incredible opportunity.
5. Universities that do not charge tuition
A number of years ago, we learned about Hard Perform U – College of the Ozarks – a program in which students work on campus jobs in return for a tuition-free college education.
Students are still responsible for the cost of their housing and board while in school. Since then, we’ve learned about a number of more colleges that don’t charge students any tuition.
Here is a list of 24 colleges whose tuition is waived for the vast majority of students — some tuition exemptions are based on grades and financial need, while others are not. This list was constructed from multiple articles, which you can find by clicking on the links below:
Alice Lloyd College is a private, coeducational institution in the city of Birmingham, Alabama.
Antioch University is a private, coeducational institution located in Antioch, California.
Barclay College is a private liberal arts college in New York City.
Berea College is a private, coeducational institution located in Berea, Kentucky.
The College of the Ozarks is a private, non-profit institution located in Springfield, Missouri.
Cornell University is located in Ithaca, New York.
Curtis Institute of Music, Deep Springs College in California, and Duke University are all excellent choices.
Harvard University is a private research university located in Cambridge, Massachusetts.
The Massachusetts Institute of Technology (MIT) is a research university in Cambridge, Massachusetts.
Princeton University is a private research university located in Princeton, New Jersey.
Stanford University is a private research university located in Stanford, California.
Texas A&M University is located in College Station, Texas.
The United States Air Force Academy is located in Colorado Springs, Colorado.
The Coast Guard Academy of the United States
The Merchant Marine Academy of the United States
West Point is the home of the United States Military Academy.
The Naval Academy of the United States of America
The University of North Carolina at Chapel Hill is a public research university located in Chapel Hill, North Carolina.
Vanderbilt University is a private research university in Nashville, Tennessee.
Webb Institute Williamson Free School of Mechanical Trades (formerly Webb Institute Williamson Free School of Mechanical Trades)
Yale University is a private research university in New Haven, Connecticut.
The following articles served as sources for the information in the preceding list:
AffordableSchools.net | Tuition-Free Colleges – 20 Tuition-Free Colleges Article Time.com – Tuition-Free Universities and Colleges Article 6: Jobs that reimburse students for their educational expenses
There is an ever-growing number of businesses that have realized the significance of investing in the education of their personnel. The following firms provide tuition reimbursement schemes to their employees:
In a previous blog post, we provided a list of 34 businesses that provide tuition reimbursement to part-time employees who work for them. We realize this isn’t a comprehensive list, but please keep it in mind and you’ll save a lot of money.
There are many firms that set a cap on the amount of tuition they will fund in any given year. Some companies may need a certain grade in a class before payment can be processed. The possibility of receiving tuition reimbursement is an excellent motivation to pursue the education you want at a price you cannot refuse.
7. Save money on university accommodations.
Living expenditures may mount up rapidly, and so can the savings that can be realized by making a single easy adjustment. It’s been dubbed “the $6,000 commute” by some.
When opposed to staying in a dorm room on campus, students who live at home while attending a neighboring university or community college save between $5000 and $7000 per year on their education.
As a Resident Assistant, you have still another career opportunity. An RA is essentially a student leader who lives on the floor of a dormitory with a group of other students. They are tasked for acting as an advocate and watchdog for the students on that floor, among other things. In return for their service, RAs are often provided with free lodging and meals.
8. Universities that charge a flat tuition rate
College for American, a component of Southern New Hampshire University, formed a partnership with a number of significant corporations to provide an affordable degree alternative around three years ago. McDonald’s, Easter Seals, Gap, Con Agra Foods, Grifols, Anthem, and other corporations were among those that were engaged in the case.
As a consequence of their partnership, they have created three Bachelor’s degree programs with a fixed price and two Associate degree programs with a variable pricing. The following degree programs are currently available:
Associates in General Studies (AGS) is an abbreviation for Associates in General Studies.
Associates in Healthcare Management is an abbreviation for Associates in Healthcare Management.
Bachelor’s degrees in communication are available.
Bachelors of Science in Management
Bachelor of Science in Healthcare Administration
Including books and fees, the cost of a Bachelor’s degree in business administration is $10,000. Students that enroll in the course of study work on skills rather than attending traditional classrooms. Complete a benchmark and go on to the next one in the sequence. Complete all 120 competencies and you will be awarded a bachelor’s degree.
9. Take advantage of the University Employees Discount
It’s possible that our last unconventional cost-cutting tuition alternative may seem insane, but bear with us. Did you know that several institutions provide discounts or tuition-free educations to their workers and, in certain cases, to their children?
Suppose that instead of co-signing on loans or paying for your child’s education, either your mother or father (or both) obtained employment at the institution.
We’ve seen this method work well for many families, and we’ve lately seen an even more beneficial spin on the concept.
Several months ago, a family member of ours got married to a gentleman she met while attending a university in Arizona. They are both very bright students who graduated with honors.
Following her husband’s acceptance into the university’s medical program, the wife sought for a position at the medical school affiliated with the institution.
Rather than accruing $500,000 in medical school debt, they are able to pay for school while still putting some money down for a down payment on a house.
10. Locate an Affordably Priced University
We came across an exhaustive study piece in Money Magazine a couple of years ago that ranked the top cheap institutions in the United States based on their cost of attendance. Besides tuition, they considered a variety of other factors, including class size, student-to-teacher ratio, average earning potential for graduates after three years, the number of tutors and support staff, 4-year graduation rate, and a slew of other factors.
This article will assist you in formulating questions to ask any prospective schools that your family may be interested in attending. It is a very precious resource.
Students and their families will be seeking for new alternatives to save money on tuition while still receiving the education they want as the educational environment continues to evolve.
Not only should we not settle for standard thinking and standard levels of student loan debt but we should also encourage our children to think outside the box and to see the high cost of college as an opportunity for innovative, MoneySmart thinking that will result in significant savings in the long run.
As a result of the abundance of choices, we are certain that you’ve come across or found several alternatives that have saved you time and money. If you have any MoneySmart methods, please share them with us.
