3 Ways to Save Money on Your College Experience

College is an expensive endeavor. The problem is that it is becoming more and more difficult to find a well paying job without a degree. An increase in demand has led to tuition rates rising almost twice as fast as the rate of inflation in the United States. This means that you need to find creative ways to save big when it comes to college. What you want your college experience to be like is up to you and finding an option that fits your plans and your budget will leave you better off after you get your degree.

Where to Go

Picking the right school regarding education, environment and finances is very important, but overspending on your education will set you back after graduation. There are a number of options to consider when looking at schools. The type of school you choose will affect the cost significantly. The average cost for tuition and fees per year for the four types you have to choose from are:

1. Public-4 year-$8,244 in-state, $12,526 out-of-state 2. Private-4 year-$28,500 3. Public-2 year-$2,963 4. Online-4 year-$7,500

These four options all offer different pros and cons. Public and private four year schools offer the full four year college experience, while 2 year schools and online schools offer something a little different. If you are strapped for cash, but want a 4 year degree, it wouldn’t be a bad idea to go to a 2 year school and then transfer to a 4 year college. This would save you over $10,000 compared to a public university and over $50,000 compared to a private school.

Budgeting Expenses

College is a time to have fun, meet new people and grow in your education. It is also a time to learn how to handle your own finances for the first time. Paying attention to what you are spending your money on will be quite important to your financial future. Controlling your spending on eating out and other personal expenses will add up to significant savings over time.

Finishing Early?

Finishing college early is a great option if you are looking to save big. This will require diligence throughout your college career as you will need to pick up a few more classes each semester, but can save thousands if you can pull it off. Finishing a year or even a semester early can put you ahead of your classmates for jobs and save you from more tuition at the same time.

What Do You Want?

In the end, the college experience is completely your choice. These are just three ways to keep your finances in mind as you decide where to go and as you progress through your experience. Always keep your financial future in mind as you make big decisions such as these.


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