Archive | May, 2012

Tips That Will Help You Save For College

13 May

By Christa M O’Conner

Expert Author Christa M O'Conner

As tuition payments rise seemingly every single year, many students are finding it harder and harder to figure out how they are going to pay for college. If you are about to embark on furthering your education and you are worried about the huge expense that comes with getting a degree, here are some tips to help you save.

  1. 1. Budget – if you’ve heard of the “Ramen Noodle” diet, it’s for a good reason. Most college students are on extremely tight budgets as most of their funds get spent on tuition, books, and other education necessities. Budgeting is going to be a huge part of learning how to manage your money properly so you can spend your money in the right places. You may need to find other options to expensive salon haircuts, buying the top designer clothing, and other things that will no longer take priority during your college stay.
  2. Dorm vs. Apartment – you might be surprised to know that renting an apartment may be far cheaper than signing up for a dorm. This will all depend on the area you go to college, and if you can find a roommate to split the expenses of an apartment.
  3. FAFSA – Free Application for Federal Student Aid (FAFSA) is what you will need to fill out in order to apply for financial aid. Depending on your particular circumstances, you may be given grants or loans that will help you pay your tuition.
  4. Scholarships – scholarships are not just for athletes. You can receive scholarships based on your academic achievements, financial needs, volunteering time, or even based on your race or gender. There are thousands and thousands of scholarships available, some even through your own high school and university. A quick search online will bring up a plethora of websites where you can apply for specific scholarships to help you cover your costs.
  5. Extra Credits – the best way to cut your tuition bill is to graduate early. If you take a few extra classes each semester you will be able to accumulate enough credits to graduate a semester or even a year early. This will be made even easier if you take a few AP courses in high school which will also add credits to your total accumulations.

 

These five tips can help you prepare for a possible huge financial bill after you complete your degree. Start preparing 1 to 2 years in advance and map out how you plan on saving, and spending, so you can have a budget in mind by the time your first year in college rolls around.

Colleges and Universities can cost a pretty penny. Start preparing now so you have a plan in motion by the time you start taking your first class.