Save Money in College with These Creative and Practical Strategies

The costs of higher education have skyrocketed in recent decades, outpacing inflation and leaving many students and families struggling to afford a college degree. However, there are a number of creative strategies you can use to save money on the cost of college. Here are some insider tips that will help you save big:

1. The Power of One Major  

First up, let’s talk about your academic path- one major, no minor. It might not sound super glamorous, but this can be a game-changer. By focusing on just one major, you can graduate quicker, which means you’ll save on tuition and get into the workforce faster—hello, paycheck! More years in school means more tuition and expenses. 

2. Summer Classes and Studying Abroad  

Don’t let the summer slip away without earning credits! Taking summer classes can be a brilliant way to get ahead. Some schools charge less for summer courses, but even if yours doesn’t, you can always take classes elsewhere and transfer the credits. Places like Trine University are proud of their discounted summer classes, and many others offer affordable online programs. Many students take classes at their local community colleges in the summer when they’re back for break to get classes out of the way or are easier than at a traditional 4-year university. Just double-check to ensure your credits will transfer seamlessly. 

And studying abroad? Yes, please! It’s not just about amazing experiences and Instagram-worthy photos. Sometimes, studying abroad can be cheaper due to lower living costs and tuition fees at partner universities. So, get in touch with your study abroad office and explore those exciting and cost-effective opportunities. 

3. CLEP Exams for College Credit  

CLEP exams, or College-Level Examination Program exams, are your secret weapon! For about $100, you can earn college credit without taking the actual class. It’s perfect for subjects you're already familiar with. Study, take the exam, pass, and voila—you’ve earned credits! Just make sure your college accepts CLEP credits, which most do. I highly recommend you invest in a study guide so you learn the specific material you’ll be tested on and be able to play with practice tests so you don’t waste your time or money. 

4. Alternative Programs & Free Schools  

Who says you need a traditional four-year university to succeed? Enter alternative programs like CodeAcademy or 42 for computer science enthusiasts. Many assisted living facilities will pay for your CNA license and nursing school pre-requisites if you work part-time for them. Work 20 hours a week, get your CNA license, and let them cover your nursing prereqs. It’s a win-win! There are many alternative programs out there that can help you achieve your goals more affordably. You’ll need to do some research for your specific situation, but they are out there.  

And don’t miss out on schools like University of the People, which offer whole accredited online degrees with minimal costs. They even have master’s degree options! You pay small testing fees at the end of each course, and before you know it, you’re holding a degree without the hefty price tag. 

5. Double Dipping with Employer Scholarships  

If you’re juggling work and school, why not double dip with employers that offer scholarship benefits? Companies like UPS, Verizon, and T-Mobile, often provide scholarships to part-time employees. Some moving companies offer scholarships if you work for them in the summer. This means you get your regular wages AND free scholarship money—no taxes on that, baby! 

Local employers might offer similar benefits. Take Dick’s in Seattle, for example. They give their part-time employees scholarships on top of their wages. Imagine a $5,000 scholarship for working a part-time job that you were going to do anyway!  

BONUS: 

6. Scholarships and Financial Aid 

Last but definitely not least, don’t forget about traditional financial aid and scholarships. This deserves its own extensive guide, but I'll give you a sneak peek. Financial aid comes in various forms: grants, work-study, loans, and scholarships. It’s crucial to fill out your FAFSA and explore all your options. And guess what? I’ve got a Financial Aid 101 guide just for you! 

By combining traditional financial aid with some outside-the-box approaches, you can minimize college costs and avoid excessive student debt. With the rising price of higher education, it pays to be proactive and resourceful in your efforts to make your degree more affordable. If you take even a few of these tips to heart, you're going to see some serious savings on your college journey. Remember, it’s all about being smart and proactive. 

For even more helpful information, be sure to check out the detailed video I’ve created! 🎥 It dives deeper into the topic and includes additional insights that may help you. Click Here to watch this video