Seniors choosing a college in a frugal way?

[mstrohm]

I have compiled a few ideas for high school seniors to consider to keep the cost of college from being too budensome.

Dare to be different and look at local colleges. Go local. If your local college does not discount, ask them to consider it.

Don't decide on a school based on how "cool" the visit was. List pros and cons on paper and make sure the cost of the college is one of the factors! Ask yourself, are the added "pros" worth the added cost. (Is it worth going to the same school as your friend if it means $40 thousand more debt?)

Never make your decision to attend a school based on how difficult it is to get in. Instead, look at your major and how well the college prepares individuals within that major.

If you really want the name brand college, consider a Junior or Community college for the first two years.

Try the same "method" high level college bound athletes use. This method does not work with schools with waiting lists, but many schools would love to attract a few more students. Line up your top two choices of colleges and go back and forth between them to see which will cost less in the end. Let them know what the other school is wiling to do for you. See if hundreds or even thousands can be shaved off the cost.

If you do decide to go away to college avoid taking a car. Cars are a large, hidden (or not so hidden) expense to college.

Once your choice is made, appeal for more financial aid. My son was given $1,200 more just for asking.

Coming into college with AP (Advanced Placement) courses or a great knowledge in a certain subject? Look into getting credits for those AP courses or request to CLEP (College-Level Examination Program®) out of courses. This saved my daughter a whole semester worth of tuition!

What ideas do you have for our new crop of high school seniors?

[boefixepa]

Expensive schools are not necessarily the best. I think starting out at a small college and even living at home to cut costs is a great way to start. Also make sure you work while in school and work ful-time or two jobs during summer. There are so many people I saw wasting time and money because they couldn't or wouldn't make up their mind on what they wanted to study. You have to know before you start, but take general classes until you do. My waiting ended up costing me another semester, because I chose a very long major and had to play catch up. I don't regret one bit, however it did cost another semester.

I second the 'no car' idea. There is simply too many other things you have to worry about, ride a bike, take the bus, walk, bum a ride from a friend.

Share an apartment, in my area they were contracted by the room, not the apartment, that was nice.

Work on campus, ours had a pretty decent minimum wage.

Aplly for any and all aid and scholrships! There are tons out there, you just have to ask.

Take a FULL load! Not just enough to meet the min # of credits for full-time student. You can get one more class in per semester this way. Yes it is more work, but if you choose wisely it's more then doable.

Buy books used, check them out at the library, buddy up with someone in the class to share the book, get the old edition and beaware of a few changes. I simply can't believe how expensive some of them are, but do any thing and everything to keep the cost down.

Learn to like simple, inexpensive meals. Stay away from just eatin from vending machines and fast food places. Your brain needed better food then that. Take care of yourself, and keep on top of things.

I second the AP classes and testing out of some credits if possible too.

Good LUCK!!

[Cassandra]

Fill out the FAFSA-on time! Ideally, fill it out before February as some college's deadlines are different than the federal deadline. Most (if not all) colleges base the financial aid you will receive on the FAFSA.

If you know you will transfer after a year or two, only take the classes you know for sure will transfer to the new college. The college you are at may accept your AP/CLEP scores, but the one you plan on transferring to may not.

If you go out of state, see if the state you're going to has a "good-neighbor" policy with your home state. I know California, Nevada, Oregon, Washington, and Arizona (and possibly Utah) have this agreement. If you are from California and go to school in Nevada, the university you attend will offer you a discount on your tuition.

When applying to a school, look at how many people in the school are working towards what major (Newsweek Best Colleges offers this information). Apply as a major that has the least amount of students. For instance, if only 1% of the student body is majoring in Engineering, apply as an engineer major. You're more likely to get in and will likely get scholarships offered only to that major. Then, stay as an engineering major for a year or two (but no more than that!) while you take all the core classes and some of the prerecs for your desired major. Once you know what you want to really major in, change majors. You'll lose the original scholarship but will most likely get one (or more) for your new field.

Throughout all of college, constantly be applying for scholarships! If you get too much scholarship money, that money is handed directly to you.

Cassandra

[Lori63]

Got to agree with FAFSA advice-fill it out on time!

Also, an expensive school may be cheaper than you realize. Don't rule anything out until you have all the info. My son gets an awesome financial aid package from his small, private school.

He also had AP/Dual enrollment credits-was technically a sophomore half way through his freshman year.

[MonkeyMama]

Look at housing options off campus. It may be worth keeping the car and commuting a bit. If it is a college town you may have little option, but going to school in the big city I found it far better/cheaper to rent a house with roommates a good 10 miles from campus. Apartments close to campus were pricey, and dorms were astronomical. Instead I lived in a HOUSE in a nice neighborhood for much less. I paid less than most people I know sharing a room in an apartment.

I also had my own conundrum in college where my parents would not help me with much more than community college when I started (they were probably wise - didn't see the point of going to a more expensive school and looking back was probably best). However, since they made good money I seemed to qualified for no aid whatsoever right out of high school, even with my perfect grades and all that. It was very frustrating (though maybe I could have looked harder). Then my last 2 years of college were practically paid by scholarships I hadn't even applied for. I think I had just given up. If you find a wall when it comes to need-based scholarships, just know that as you progress through college a lot of non-need-based scholarships are available. Definitely take advantage.

[Saving in So Cal]

Before deciding on a college, you will also want to check out its career services and internship programs.

[LuckyRobin]

I agree on the tutoring. I was making $15 an hour doing it in 1993 for stuff that was a cakewalk for me. Way more than my job as a cook did.

[vole]

One of my children went to Amherst College and the other to Williams College. Both colleges run neck-and-neck for Number 1 in US New and World Reports.

Was it worth it? Definitely not. Despite great marketing both schools fail to deliver. For example, the Alumni network at both schools is useless for help get a job. Some teachers are great, but that's true of any school.

Compare this to Harvard alums that always help each other as an unwritten rule of the school.

Save the money from tuition for after graduation and use it then to help get started.

[SacredFaerie]

The OP is interesting, especially since it's in direct opposition with what most high school guidance counselors suggest.

[jIM_Ohio]

No mention of co-op. I earned enough co-oping to pay 100 percent of my tuition... other than I needed to pay living expenses while co-oping.

Tuition over 6 years was 72k
Co-op earnings according to SS over same period was 84k.

[cash330]

I completely agree with the AP tip! I took several AP and college level courses in high school which only cost me a couple hundred dollars all together. I am now graduating in May a whole year early with a double major. I only wish I was persistent enough to do CLEP tests.

I have been attending a state college about 16 miles or 25 minutes from my house. I'm in NY and only pay about $5,200 a year in tuition. I live at home so I don't have to worry about room and board. I've always filled out FAFSA and have gotten something. I go to a great school (even though it's state) that gives a lot of help with getting a job lined up. They have a great reputation in my field of study, Business.

I can proudly say I will be graduating student loan free and I didn't have to work a full time job at the same time (I did usually work part time and over the summers). In fact, I have absolutely no debt whatsoever because I have never owned a credit card.

On the other hand, I have many friends with whom I graduated High School who have another year and a half to go and large sums of loans waiting to be paid.

I also always sold my books on Amazon or Half.com. This was crucial for me because business and accounting books can cost up to $200 a piece bought new. I would say I spent a total of $200 a semester or less after selling back books.

I really feel bad for anyone I know with tens of thousands of dollars in student loan debt. Except for those in high paying fields such as nursing, I see my friends in their mid 20s (I'll be 21 in a couple months) struggling with their loans.

I decided before I started college I wasn't going to make things hard for myself.

[ScottON]

Quote : If you do decide to go away to college avoid taking a car. Cars are a large, hidden (or not so hidden) expense to college.

If you don't drink then you have the potential to earn some money on the side by being a taxi for your friends. One of my mates does this all we do is cover petrol.