In this article for Hispanic Engineer magazine, Bonnie Conrad writes about financial aid and simple ways to cut the high cost of college.
It is no secret that college tuition costs have been rising sharply, and that college debt is on the rise. Recent statistics have shown that the average college student graduates with more than $30,000 in student loans, but that does not mean you have to follow their example. Here are three simple steps you can take to trim the high cost of college and get the degree you need to advance your career and increase your earning power.
#1. Get on the Four-Year Plan
One of the reasons college costs are out of control is that so many students take five, six, or even seven years to get their degrees. You can cut the cost of college significantly by getting—and staying on—the four-year plan.
Spending just one extra year in college could mean tens of thousands of dollars in tuition costs—and years of college loan repayment. Finishing your degree in four years might be hard work, but the results will last for the rest of your life.
Finishing your college degree in four years means you will be able to enter the workforce a year or two early, giving you a head start on your career and retirement savings. That alone is a reason to work hard in school and finish as early as possible.
#2. Take Advantage of Student Discounts
Whether you are picking up a pizza for dinner or booking a hotel room for spring break, you should never leave the dorm without your student ID in hand. Many major chains offer significant discounts for students, and the businesses in your college town probably do the same.
It might not cut the cost of your tuition, but your student ID could save you hundreds of dollars a year. That could be enough to pay for plenty of pizzas and nights out with your friends.
#3. Skip the College Bookstore
The cost of textbooks can really add up, but you do not have to spend a fortune to ace your classes. There are plenty of places to buy used college textbooks, from retail giants like Amazon and Half.com to smaller retailers located in college towns.
You can also check the bulletin boards at your school for some great deals on used textbooks. Simply avoiding the college bookstore and finding alternative sources of required texts could save you thousands of dollars a year.
Getting a college education has long been the ticket to a better lifestyle and greater earning power. If the high costs of college have been scaring you off, taking advantage of these money-saving tips could put your favorite school back in your reach.
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