Most jobs require a college education, especially if you want to advance through the ranks or enter management. Despite this, college has become more expensive, outpacing an already high inflation rate. For parents of college-age students and those who want to return to college as non-traditional students, taking on tens of thousands of dollars of debt for a degree can be disheartening.
Fortunately, there are ways that you can pay for college in non-traditional ways, opening the door to quality education while reducing your expenditures. The following methods can help you pay for college through hard work, planning, and using resources available to you that you may not have known about.
Putting a Plan Together
If you have a college-age student in your family, they may already be concerned about the high costs of university-level education and the inevitable loans that come with it. Many students follow the course laid out for them and choose to head to their 4-year university straight out of high school. However, there are a few ways that such students can offset the costs.
Take a Gap Year
Historically, taking a gap year between graduating high school and entering college has been an opportunity to travel and get some experience in the working world. For diligent students, they can take advantage of still living at home by working full time for the year and putting away thousands of dollars towards their tuition.
Attend Community College
Community colleges tend to be significantly less expensive than 4-year universities, whether public or private. Despite this reduced cost, most 4-year universities will accept credits earned at community colleges, meaning you can dramatically save on tuition without delaying graduation.
Explore Private Scholarships
Most students will explore the university’s scholarship and financial aid opportunities, but many still don’t realize there are other sources of financial assistance. Private organizations and non-profits often establish their own scholarships to help deserving students in need, often combining financial considerations with merit when awarding these dollars.
Returning to University Life
For non-traditional students seeking to return to university after already working in a professional setting, there are still ways that you can save some money.
Establish Residency
Almost all public and private universities have different tuition rates for in-state vs. out-of-state students. You can save thousands of dollars by establishing residency in the state in question, often simply by renting an apartment there for several months.
CLEP Credits
The College-Level Examination Program (CLEP) allows students to take tests for a much smaller fee (around $80) and earn credits accepted at nearly any accredited institution of higher education. Compared to the thousands of dollars the equivalent class would cost, taking a few of these tests to earn entry-level credits can go a long way.
Research Grants and Funding
Not every college program will open the door to research grants. However, if you are involved in the sciences at the undergrad or graduate level, you may be able to apply for and earn thousands of dollars toward your tuition without adding much to your workload.
Get a Job at the University
Many people don’t realize that universities incentivize their employees to further their education. As a result, you may find significantly reduced (or even free!) tuition if you work at the university in some capacity. Naturally, this puts more strain on your time and may increase the number of semesters you need to remain at the school, but the savings can more than make up for the added time investment.
More good news: most of these tips are non-exclusive, meaning you may benefit from one or more. You can also reduce your anticipated expenses if you’ve already attended university in the past, even if you didn’t complete it. Most credits you’ve previously earned still count towards any degree, including general education credits and any classes in your former major.
You should also pursue the traditional ways to reduce your expenses, including working during college attendance and seeking paid internships. All universities offer some form of scholarship and need-based financial aid, so explore all the available options before paying your tuition. Combining these tips will ensure a quality education without overburdening yourself with a mountain of permanent student loan debt.