Dec 3, 2011

5 effective ways to pay for College

Attending college is a career necessity for most individuals in this day and age, but the expenses involved can lead to serious economic challenges. I discovered first hand just how expensive college can be when I was laid off and began considering returning to school to finish up my Bachelors degree in IT. As a victim of our current recession, I decided to go back to school to complete my degree to make myself more marketable in this tough economy.

In the end I was able to save major cash by going the distant learning route and enrolling at a public online University. I got my information technology bachelors degree online and saved on tuition, room, board and more. I found studying online to be an excellent way to cut back on tuition fees and was pleased to find that many online schools are fully accredited.

Here are 5 other effective ways to pay for college:


1) Work and Study

Although holding down a part or full-time job while in college may force you to take fewer credits per semester – the financial rewards can easily outweigh this. Not only will it allow you to pay your tuition and textbook fees more easily but it will also help you get into less long term debt.

2) Buy Online

Studying online isn’t the only way you can save money via the internet. Textbooks are usually sold at significantly cheaper rates online and other supplies such as notepads and computer equipment can be found on the web at slashed prices. You can also avoid expensive tutoring fees by utilizing the endless amount of free online resources such as webinars and online encyclopedias.

3) Transfer

If you start out your degree at a school you can no longer afford, consider transferring to a cheaper option. This may seem like a lot of work but many schools have excellent transfer systems in place that can help make it a smooth transition. Another money saving method is to attend a community or junior college for your first few years of college. These colleges usually offer classes at extremely cheap rates and you can transfer out to most 4-year schools from them.

4) Move in with your folks

If you are struggling to make ends meet and live within a commutable distance from your parents and school you may want to strongly consider moving in with them. Although this may sound like your worst nightmare, the huge savings you will enjoy from not paying rent will likely make it at least somewhat endurable.

5) Prioritize your spending

Do you really need that latest phone or those pricey sneakers? Make saving and spending in a thrifty manner a way of life. Create monthly lists that prioritize spending and list the essentials that need to be paid for that month. You will be amazed at how much easier this makes spending wisely and it can also effectively remind you to pay off your credit cards and loans in a timely manner.

Gaining a degree is never cheap, but there are many ways you can significantly cut back on spending and effectively pay for your schooling. There are also single mom scholarships for those seeking assistance financing their education. Remember to heavily research schools tuition fees before you make your final decision and follow these easy tips to stay financially afloat. Good luck!

No comments:

Post a Comment