Everyone today is feeling the crunch of the present economy. We see college funds dwindling and investments have not paid off like we expected them to.
We encounter people who have been laid off jobs and this just adds to the overall sense of economic instability. Therefore it is important for parents who have college-bound kids to figure out ways on how to cut on their college costs.
Parents are starting to tell their children not to apply for colleges that they would not be able to afford despite their access to scholarships and financial aids. Cutting college costs is becoming a very big concern. This article will give you 12 useful tips to help cut on college costs.
1. If your kids are in high school, tell them to make good on their grades. They should have high scores on their SAT and ACT.
You may need to sign them up for tutoring; thereby spending more money, but these will help them to get scholarships based on merit. Scholarships are a big way to help you decrease college costs.
2. Look for scholarships even while they are in high school. There are some that are available to children from the 9th to the 12th grade. There are organizations like the Rotary Club and the Elks that give out scholarships.
They may not be worth a lot but at least you cut on the costs of books and school supplies. This will really help you cut on college costs.
3. Ensure that your child meets the deadlines for the SAT and ACT and those for college applications and scholarship requests. Save up by not having to pay late fees.
They cost around $16 and they can definitely add up. Avoiding fees that you do not have to pay can really cut back on your college costs.
4. Try to get them into schools where it will take them only four years to graduate. Most require five to six years but if you can avoid that they save up on two years worth of tuition and living costs.
Get your child into a school that only takes four years for them to graduate and you will definitely save up on college costs.
5. Find schools that fit your children. This will avoid the possibility of transferring in the future. Transferring can mean credits lost and bigger college costs.
Make use of an educational consultant to help your child find the perfect school for them. Go to to find consultants near you.
6. Consider a couple of schools, both public and private. There are private schools that might actually cost less than the public universities would. They are also more generous in giving out scholarships and financial aids. This can be a surprising way to cut back on college costs.
7. Extinguish your federal borrowing first before going for bank loans. Borrow money that does not require repayment before you go after the money that does.
8. Get used textbooks online. This will save up on college costs because new books can be pretty expensive. Students can also share books.
9. Negotiate financial assistance with the school’s financial aid director. Colleges will help you find it easier to go to their school. They will be able to suggest more ways of cutting back college costs.
10. Your child can also help in cutting his or her college costs by contributing with money from summer jobs or part-time jobs. This will teach your child to value his or her education more since they are helping pay for it.
11. You may want to also consider going to a community college. They can finish their core requirements here and just transfer to another school. Community colleges make for fewer college costs.
12. Your college-bound child should learn the value of budgeting. This is a very useful skill that will help them throughout their life and they can start cutting their college costs even before they begin.
Sending your kid to college does not have to be a nightmare. Debt is something we all want to avoid but if you have the know-how you can cut college costs big time. Research on alternatives and you will be able to give your child the college experience that he or she deserves.