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How To Deal With College Tuition
Education is an expensive investment that is supposed to payoff but recently, people are having to dealing with college tuitions that seem to increase every year. The price of college has become “surreal” and many people just do not know how to handle it. There is actually a couple of things to think about before we get to the main guide of dealing with college costs.
Where Is the College Cost Coming From?
Before attempting to deal with the problem, you must understand the sources of the problem. Is most of the cost coming from tuitions or is it coming from your housing? The expense of living near a college could costs just as much if not more than the tuition itself.
Is the degree worth the costs?
Is the degree really worth the amount of money you are paying for its. Think twice before giving away ten of thousand of dollars for a degree in women’s study. Not saying that any degree is bad but the amount of money you spend needs to be proportional to the payout later in life. An engineer average salary is about 55K/years; he/she can afford to go an expensive school. A history major makes about 30K/years; he/she cannot afford to go to an expensive school. Of course, there are exception but on the overall average, if you are not a hard science majors, try to keep away from school that will put you 50K in debts.
Instate or Outer state?
Look hard at this question. Outer state tuition could costs twice as much as an instate tuition. Every state will have a good college.
Community College vs. 4-year College:
Going to a community college before you go to a 4-year college is a great ways to save money. A community college might cost 2K a years while a 4-year instate can cost 9K a years. You can always transfers into a 4-year college later on. Most community college has an affiliation with4-yearsCollege, so the transfer process is easy.
Finally, after you think hard about all those points I mention here is the guide:
If the cost is related to housing, here how to help lower the payment:
Try to move to a cheaper place, move home if possible. This could save you thousand of dollar.
If possible, get more roommates to help split the rent.
Eat out less. If you cook at home, you can save hundreds of dollars.
Take the bus. Chances are, the college or university have already made you paid for the bus in your tuition, so make the most out of it. This could save thousand on your car bills (insurances for people under 25 is extremely expensive, not to mention gas). Try biking if you do not like the bus.
Tuition cost varies from college to college and there are multiples ways of dealing with it. Here is how to handle the costs:
Apply for FAFSA. If there is something as free money than this is it. You fill out a simple form and the government will give you money. YAY!
Scholarships. Most people already know this but, be more proactive in your application for scholarships. There is literally billion of dollar people could be getting for free. All you have to do is find it and apply.
Borrow money: I know people are graduating with thousand of dollars in debt, but there is a difference between good debt and bad debt. Borrow smarts and you will not default. Try to borrow as much from the government as possible (they give you options if you cannot find a job). Try to avoid loans from private bank such as Sallie Mae. Those loans are not good loans (they can change interest rate on you without telling you).
Work, Work, Work. When I was in college, I had a job almost every summer and semester. You should not be too proud to work in a warehouse or a diner. I was an aerospace engineer and I still work there. This can really offset your college costs if you save the money.
Don’t Drink. Here a simple tip to college student, do not blow off all your money in a bar. I seen people do this so much, a college student get 2 grand and blow it off in a bar. It’s not wrong to drink once in a while but keep it limited, that money adds up.
Buy Books Online. Buying books online can save you hundred of dollars.