34 Ways to Reduce College Costs

Spring has sprung. Those April showers will be bringing May flowers, and parents all across the country are starting to panic about paying for college in the fall.

According to George Jefferson, an Education Specialist with CompleteSchools.com and his article entitled 34 Ways to Reduce College Costs, there are many ways to lower those college costs. Here are 10…

  1. Most colleges and universities offer merit or non-need-based scholarships to academically talented students. Students should check with each school in which they’re interested for the criteria for merit scholarships.
  2. The National Merit Scholarship Program awards scholarships to students based upon academic merit. The awards can be applied to any college or university to meet educational expenses at that school.
  3. Many states offer scholarship assistance to academically talented students. Students should obtain the eligibility criteria from their state’s education office.
  4. Many schools offer scholarships to athletically talented students. Parents and students should be careful, however, to weigh the benefits of an athletic scholarship against the demands of this type of award.
  5. Some colleges and universities offer special grants or scholarships to students with particular talents. Music, journalism, and drama are a few categories for which these awards are made.
  6. A state college or university charges lower fees to state residents. Since public institutions are subsidized by state revenues, their tuition costs are lower than private schools’ costs. The college selection process should include consideration of a state school. Although cost should be a consideration, students should not base their choice of a school only on cost.
  7. Some students choose to attend a community college for 1 or 2 years, and then transfer to a 4-year school. Tuition costs are substantially lower at community colleges than at 4-year institutions.
  8. Some parents may be financially able to purchase a house while their child is in school. If other students rent rooms in the house, the income may offset monthly mortgage payments. Families should make certain, however, that the property they purchase meets all of the requirements of rental property. If you have any questions, consult a tax professional.
  9. Commuting is another way for students to reduce college costs. A student living at home can save as much as $6,000 per year.
  10. Many schools provide lists of housing opportunities that provide free room and board to students in exchange for a certain number of hours of work each week.

For the other 24 tips, download the 2013 Federal Children’s Scholarship Handbook for FREE!

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