7 Tips On Lowering College Costs

7 Tips On Lowering College Costs

We all know that the cost of a college education is off the charts and for many families affording a college education can be a real challenge. Here are 12 tips that families can use to save money in the process:

  1. Compare housing options
  2. Don’t buy new textbooks
  3. Consider dual enrollment
  4. Get a tuition discount
  5. Attend a college with fixed-price tuition
  6. Utilize a work study program
  7. Graduate on time

Two bonus tips…

  1. Consider a community college in the first year or two
  2. Consider being a resident advisor. Many colleges will offer free or reduce room and board

Explore all of your aid options. With that said, parents need to be savvy when it comes to the financial aid process. The more they know about the process, the more likely they will retain more gift-aid. The more gift-aid, the less loans needed. Regarding loans, never turn down a subsidized loan(s) if offered and more importantly if needed.

Parents should consider retaining professional guidance. A trained expert will assure the family will retain the most financial aid possible. Also students should always pursue outside scholarships which will help to lower their out of pocket cost for a four education. Once on campus, the student should walk into the financial aid office to ask if there are any “in house” scholarships that they can apply for. Parents should set up a 529 plan early on.

If you wish more tips or information on how to lower college costs, please contact our office.

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