In today’s advancing society, a college degree offers many advantages for establishing a promising future. At the same time, the exorbitant cost of higher education can be overwhelming, resulting in many students struggling to make ends meet and even going into long term debt to complete their education. By learning how to manage college expenses, students can focus more on their studies without worrying about their finances. The following explores various ways prospective college students can take when managing college expenses.
Choice of College
Choosing a reputable institution will ensure students receive a quality education in their profession as well as obtain better opportunities for employment upon graduation. However, unless students have a scholarship or grants to help cover costs, it’s better to stick with a quality college or university that’s within their financial means. Rather than running off to a “prestigious” university halfway across the country, students can choose a quality local school to reduce tuition and room and board costs, making their education that much more affordable.
Attending a community college for the first two years is yet another viable option for lowering the cost of college education. The credits earned in community college can then be transferred to another university for students to pursue their major and complete their degree. The first two years of college usually covers general courses that can easily be completed in a community college setting at much less expense. Students will need to research school options in advance and plan their curriculum accordingly to make sure their coursework is accepted by their future school.
Online Education – Managing College Expenses
Studying online can also greatly reduce college expenses. Distance education is highly respected today as a viable means of obtaining a degree. The key is to work with an accredited institution known for providing quality online studies. By studying online, students can save funds on tuition, textbooks, room, board, and transportation costs to and from classes, relieving them of this added financial pressure.
Online education also gives students the freedom to choose their own study schedule, opening the door for them to work and study at the same time. Many students work and study to finance their higher education, reducing the amount of debt accrued through taking student loans. Distance education also gives students more time to enjoy a healthier lifestyle, as they’re not pressured by finances or a restricted study schedule.
Budgeting Expenses
Budgeting should not be a foreign concept to university students. Learning to work within a reasonable budget makes it easier for students to meet their financial responsibilities and still enjoy recreational activities. Budgeting requires that students use wisdom in spending their money, prioritizing their expenses in order of importance. Financial obligations (school costs, rent, bills, food) should always come first, before recreational spending. This means students may need to say “no” to some activities to afford others.
Budgeting involves planning and living within a person’s income – two concepts that will help students live a happier, healthier lifestyle throughout their college years and well into their future.
Purchase Used Textbooks – Managing College Expenses
College textbooks are exorbitantly expensive. There are ways, however, of mitigating the cost while ensuring you have the proper materials to sustain your learning.
One expedient way of reducing the cost of textbooks is to identify sources where you can purchase used textbooks. General outlets where they are available include online vendors, campus bookstores, and even local bookstores. Moreover, many campus bookstores do offer an opportunity to “rent” books for a term, offering a cumulative decreased cost for the duration of the time you’ll actually be consuming the material available in the textbook.
Textbooks are also available online. Google Books, Kindle, and even resources offers via closer campus outlets can be useful in ameliorating the cost of a permanent textbook.
Identify Part-Time Work
An additional way of at least managing college expenses is to acquire a part-time job to leverage a source of sustainable income.
One intriguing option might be asking a professor to recommend you for positions of interest, that coincide with your desired learning outcomes. Another more utilitarian option could constitute working at a food service center on-campus, usually affiliated with the campus’ student government. Additionally, another appealing option might render itself toward disseminating the knowledge you’ve found fruitful, through local tutoring agencies that largely service under-resourced communities.
Whatever the case, a part-time job can be especially useful in compensating for the financial toll that a college education extracts.
Explore Financial Aid – Managing College Expenses
When one typically thinks of financial aid, it usually manifests as an appellation of scholarships that one can freely spend. In some instances, that it is pertinent and accurate, which is why you should consult your university’s Scholarship Resource Center. Even for students currently in the diaspora of obtaining a Bachelor’s Degree, there are scholarships available from community benefactors that can lessen your cumulative college spending.
The most significant component of receiving a generous financial aid package is filling out your FAFSA form. It’s a relatively simplistic that requires a generic input of information and then provides you with an array of loans or grants you are eligible for. Opting into them is purely discretionary, but it provides an outlook for your expenses in the ensuing Fall.
You can also research work-study positions, which facilitates an income while you’re studying. Levels of compensation are variable, but largely depend on the skills required for the task, the timing of your application, and your respective school’s level of funding to the program.
Funding a college education can be a frustrating endeavor. For more information on grappling with the costs, reference Department of Education’s Student Financial page.
This article originally appeared on TalkAboutWellBeing.com.
