Every summer the Internet is flooded with students looking to save money on college tuition. This can likely be your greatest expense in your 20s. Actually, most college graduates can be stuck with student debt for even decades after college. Pretty scary, huh?
The whole goal of this site is to help you manage your money in your 20s. We want to help you save money on the largest expenses there is. This is why today we’re going to tackle college tuition. The money you can save here will save you in the future. If you can cut back spending even by a dollar, that’s one extra dollar that you’ll have in your pocket when you’re down with college.
How can you save money on your college tuition?
Look into the funding options.
You should never let money hold you back from attending the school of your dreams. The truth is that the most prestigious schools usually have the most funding available. They want the best students. They won’t let money hold you back.
My first recommendation is to always apply to the best schools possible. Then once you get in, you can look into funding options to see if it’s even financially feasible for you to enroll. Please don’t let money get in the way of a quality education.
You could also look into a custodial account.
Attend a community college first.
Have you thought about attending a community college first?
To be upfront, this is what I did. I spent three years at community college and then I transferred my credits over to a larger university in town. I enjoyed many benefits from attending community college first. Some of these benefits were:
- Had more time to mature and grow up.
- Was able to work more to save more money.
- Had time to figure out what I wanted to do next.
- Less money invested into tuition meant less money wasted in case it didn’t work out for me.
I was happy with my decision to attend a community college first. It’s not the best option for everyone, but it could be right for you.
Apply for every single grant, bursary, and award possible.
There are so many sources of funding available. You just need to apply for them. I didn’t know about this until I ran into a buddy in the cafeteria one time. He told me to come with him for a walk. We picked up some forms and went to work on them. I didn’t know why we had these random forms. I did my best to fill out the application.
A few months later I received an email to my school account informing me that I had a $300 check waiting for me. I had received my first bursary. From that point forward, I applied for every form of funding possible.
If you don’t ask the answer is always no, right? Give it a shot. You have absolutely nothing to lose.
Work at your school.
Most colleges post jobs frequently for work around campus. I found that I wasn’t on campus enough so I applied for some random gigs that I saw posted. A few weeks later I was an Exam Invigilator. In other words, I made sure you didn’t cheat on exams (but you wouldn’t cheat).
Working at school allowed me to make some additional money that I could save and use towards my tuition. Plus , the job was pretty easy. Oh and you got to meet more students. I’ll stop there.
Avoid school for a year.
Why rush to attend college? You can take a year off to figure out what do next. College isn’t the next logical step in your life. You can have a year off to work, save, travel, or just decide what you really want out of life. My friend took a year off and realized that he didn’t want to live in this world without an education. He ended up going after his Master’s Degree because he saw how difficult life could be without credentials.
That’s how you can save money on college tuition and even possibly graduate debt free. I was fortunate enough to graduate debt free. The result was that I’ve been traveling and doing cool things ever since I finished up with school.
Are you ready to slap that expensive college tuition bill in the face?