College tuition rates have been steadily increasing for the past few years. Nobody is happy about this to say the least. The average college tuition these days can lead to many college graduates paying off their student debt for years. Since free college tuition is out of the question unless you receive a full scholarship due to your 99% average, it’s important to focus your energy on saving money on college tuition.
The good news is that there are many changes in how we pay for college (article credit: Forbes). You don’t just have to accept the traditional model of racking up students debt.
Attend a community college.
If you want to know how to save money on college tuition then the first thing you need to assess is the college of your choosing. If you can afford it, or if your parents pays for it, or if you obtain some sort of financial assistance (bursaries, scholarships, grants) then by all means attend the larger and more expensive university.
When I finished high school I initially attended a community college because I wanted some to time to save up money before I would attend a major university. I have discussed this topic to death on Studenomics so I will leave it at that for today.
Attend an online university.
Online schools are an excellent way to avoid paying for fees related to commuting or room and board. Some may be apprehensive about this relatively new form of learning, but there are numerous benefits aside from saving money. Many online schools, such as St. Joseph’s University, offer Master’s degrees in rewarding fields such as Criminal Justice, Business, Education, and even Health Care. It is also an excellent way to achieve a higher education while maintaining a job. You can easily receive free information regarding most online universities, and it only takes a few moments to do so.
Apply for every form of financial assistance.
Remember that the next few weeks are crucial in terms of obtaining financial assistance. Go online. Go in person. Find those forms and fill them out. The bursary forms are the most important because every college has a set amount of money allocated to bursaries that they give to students. (Note: I just filled out the bursary forms provided by my college and I will know by November 6 whether I am eligible). Also keep in mind that college tuition grants are another very common source of financial assistance for college students.
I just want to remind you guys one more time that it does not hurt at all to fill out a few forms if they could potentially result with you receiving a couple of hundred dollars. The absolute worst case scenario is that you will be rejected. I will write about this until you guys fill out those forms just to shut me up.
Opt out of insurance coverage.
Almost every time you pay for the average college tuition you are also paying for insurance coverage. As a student you are usually covered under your parents’ health plan. If your parents don’t have extended health coverage then think twice before dropping out of your coverage offered by your college. If you are covered by your parents and you do choose to opt out of the college insurance plan then you will save yourself a minimum of $100 per semester. Not bad savings on your college tuition.
Analyze your college tuition breakdown sheet.
I asked for a list of college tuition items that I was automatically paying for.
You know what happened? I was fairly surprised but I have heard of far worse. I only had a few minor issues with my college tuition coverage.
I simply cut those items out. I’ve heard horror stories from friends that find out that for the past 3 years apart of their college tuition has been going to a bus pass they don’t use, a food card they never heard of, or resources they have never used.
If you find that part of your college tuition is paying for services that you simply do not require then immediately opt out and receive your financial refund. If you already have a gym membership or workout at home then there’s no point to pay for a gym membership at your college. If you walk to school it’s doubtful you will need a bus pass.