While you might worry that the costs of college will add up hugely no matter what you do, there are certainly numerous ways that you can graduate with less debt than many of your peers. Read on for some tips you can follow today.
Be Sure About Your Choice of Course and College
Something that not enough college entrants do when they begin their university studies is to be very sure about the course they choose and the institution they attend. For starters, lots of funds are wasted because students enroll in one particular area, often because they think it is what they “should” do, but then find out that the course just isn’t for them. Whether you waste days, months, or even years on the wrong subjects, this all adds up to extra costs and debt that you could have avoided.
Similarly, you should also think carefully about which college you choose to study at. Pricing from institution to institution can vary enormously, even though they may be all accredited and offer the same degrees in the same time frame. These variations can make a big difference to the amount of debt you end up coming out of university with.
Before you commit to a particular educational environment, keep in mind that while some universities may be very prestigious, they usually also have higher fees to go along with their well-known names. Although attending a school like this may make a difference to job prospects in some cases, a lot of the time it really doesn’t have a huge effect, especially later when the focus will be on your job experience. This means you could save yourself a significant amount of debt simply by going to a lower-priced facility.
Study Online Rather Than on Campus
Another good way to save money is to study online rather than on campus. You will find that these days there are plenty of top options to choose from, no matter the subject you’re interested in. For example, do a quick search and you will find plenty of available MBA programs online, as well as undergraduate and higher degrees in pretty much every other area of interest.
When you choose to undertake an online course, you can save money in numerous ways. For starters, studying online means that you don’t have to move away to attend college, and can therefore keep living at home with your family. This saves on rent, food, utilities, and many other costs.
As well, online programs allow you to more easily work part-time or full-time as you study, thereby reducing your debt. When you learn online, you can simply fit in your studies as and when you like, before or after work, on weekends, and so on. On-campus courses, on the other hand, have set class times which can dramatically reduce your ability to earn an income as you learn.
Apply for Scholarships and Other Financial Support
If you want to come out of college with less debt then, make sure you take advantage of each opportunity you possibly can. Don’t just assume that college admission officers will automatically put your name down for grants or scholarships or other funding; you need to be proactive and ensure that you’re in with a chance for every type of aid there is.
Choose Accelerated Programs and Otherwise Cut the Length of Your Attendance
Lastly, you will find yourself leaving college with less debt if you minimize the length of time that you end up studying. Rather than taking the maximum number of years possible for your course, look for ways to accelerate your studies. For example, many universities offer accelerated programs whereby you can work harder and faster to complete your degree less time than normal. This can cut your study time by six months, a whole year, or potentially even more.
You might also want to consider opting for a combined degree where instead of finishing one degree after three or four years and then starting on the next program, you instead study both areas at the same time and finish university with a combined degree much sooner. Other options to consider to speed up your university time includes taking achievement tests and courses for college credit, and attending summer school for additional credits each year.
Alexa Mason is the blogger behind Single Moms Income, a personal finance freelance writer, and an online entrepreneur. Come hang out with her on Facebook and Pinterest.
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