How to Save Money For College

I WENT BROKE In College

If you haven’t heard my story, let me assure you this subject means a lot to me. In 2016, I decided to go to law school. I graduated in May of 2020 and the bar exam was pushed back 5 months! I was living off of and took out more student loans. Nobody was hiring, my bill collectors didn’t care. Once some medical bills and student loan payments surfaced. I went broke. That’s my mission for this website. To help as many people as I can , not suffer the fate I did. Please be aware of your circumstances, read the blog, and put a plan together in how to save money for college. 

GO TO A COMMUNITY COLLEGE

Community colleges have the same educational needs for high school students as a university does. Community colleges are very affordable, but they have a lower reputation than universities because of the perceived inferior quality of their education.

They also tend to be cheaper in some ways: Their per-semester cost is usually around $1,800-$2,000, compared to an average community college’s tuition of $5,000 per semester. But you can save money with community college options.

With these savings, you can afford to pay less than half what your parents paid for college before you went off to school. You’ll still get all the same elite education and an education that will help you land a job when you graduate — just at a fraction of the cost! 

This is probably the, best way to save money for college, because you can pay off the tuition much easier than a 4 year institution. 

GET A SCHOLARSHIP

If you haven’t heard about scholarships for college, there’s a good chance you might have been turned off by the idea of going to college. After all, it sounds really expensive and complicated. But scholarships are not only useful if you’re pursuing an educational path that’s more expensive. They’re also very useful if you want to save money for your education or pay less than the market rate.

A scholarship is a form of financial aid that can be used to pay the costs associated with attending college. Unlike grants or loans, they don’t come out of your pocket. Instead, they come from well-wishers’ pockets and help offset the costs related to going to school.

Here are just some of the benefits:

• You’ll receive 100 percent of any scholarship fees paid in full upfront (usually $10,000 per year)
• You’ll receive a full tuition waiver ($80 per credit hour)
• You won’t have any student loan debt
• No interest charges for deferments or grace periods (most often 1% over 4 years)

JOIN THE MILITARY 

I know this may be controversial, but one of the benefits of joining the military, is education. I was in the Army Reserves for 8 years and was Active Duty for 2. I enjoyed my service, made a lot of great friends, traveled the country, and got some benefits. 

That being said, the Army paid my Law School Tuition which was over $120,000. I can’t beat that deal. I did have to get student loans for books, rent, medical coverage, Car Insurance, utilities, etc

APPLY FOR FINANCIAL AID

The first thing you should do is get a job. It’s okay if your school doesn’t pay you, so don’t worry too much about that. The more important step is applying for financial aid. There are many ways to apply for financial aid. You can:

Apply for student loans Apply for federal or state grants Apply for scholarships and government benefits Apply for work-study positions Apply to college websites such as FAFSA (Free Application for Federal Student Aid)

These options all vary in terms of qualifications and assistance provided, but the key idea is to apply as often as possible. In fact, there are very few people who apply for financial aid without having a job lined up first!

WORK WHILE GOING TO SCHOOL

Since you’re a high school graduate, working while going to school is a great option for many. You can work part-time and still be able to go to school at the same time.

If you live in an area where there are lots of colleges, work may not be an option for you. However, if you live in a college town, working part-time (or even full time) can help pay for your education. All it takes is some research and planning ahead.

LIVE AT HOME

This is a huge benefit to many students. By living at home, you can save money, have more free time and make it possible for your family to move closer to you. This is especially important if you or a family member has ever needed medical help. The idea of living in the same house can be a source of stress for families, so this may be an option that’s worth consideration.

The problem with attending university is that it typically takes years to earn enough credits to get into your dream school. That means if you want to attend the school of your choice, that progress needs to happen over multiple years. In order for this process to happen, you’ll need some extra cash and a bit of work savvy. You may need some help from friends or family members who can help set up financial aid for you or offer ways for your parents to help out financially as well.

Do the math, one of the biggest expenses is rent and utilities. If you are serious about how to save money for college, living at home may be a great option!

FIND A PART-TIME JOB

It may not be an ideal choice, but part-time jobs are a great option for future college students. These positions can allow you to save money while still getting your education. If you live far from a college campus and can find part-time work nearby, it’s a perfect way to save money.

Another option is to take classes online or through distance learning programs at community colleges. This allows you to work on your studies during the day and then return home to sleep before going back to school the next morning. You’ll save time and gas by commuting instead of making a long trip into town. After all, there’s no reason not to have the flexibility of working when you want!

ATTEND A CHEAPER COLLEGE THROUGH ONLINE COURSES AND SCHOLARSHIPS

Online education can be a great way to save money. A recent study found that people who took online classes were more likely to pay for college than those who took on-campus classes. The reason? Online classes cost about $100 per month and are usually accessible through home or office.

A popular program is the No Child Left Behind (NCLB) program, which makes it possible for students enrolled in non-traditional school settings to attend a public university without paying tuition fees. Students who attend schools where the majority of students are from low-income families receive a full scholarship, rent, or other assistance, with no financial aid requirements.

You can also apply for scholarships through your state government’s financial aid website, but make sure you’re aware of all the eligibility requirements as well as how much money you need before applying. Over time, these programs will start accumulating enough funds to cover your annual tuition costs each year; this could save you hundreds of thousands of dollars over time!

MAKE USE OF YOUR SUMMERS

If you’re trying to save money for college, you can probably afford one or two summers. However, if you have a choice between going to school in the summer or during the school year, this will be an important consideration.

We suggest looking at our blog post “101 Ways To Make Extra Money”, to get some ideas to make money.  Summers are a great time to make money for college. 

TAKE SUMMER CLASSES

In addition to saving money on your education, you can also save time by taking summer classes or interning for a company. Once you’re done with those experiences, you can take your skills and knowledge from there. In this way, you’ll be able to get an actual business job so that you can retain the skills you learned during your college career.

VOLUNTEER

TO HELP YOUR COMMUNITY

If you are an underrepresented or minority group, consider volunteering to help your community. You’re not only helping people in need, but you’re also learning valuable life skills. In fact, there is a strong correlation between educational and volunteer experience: Not all volunteer programs are equal. Some communities use them as recruitment tools and advertise them as a way to get into college or find jobs.

Here’s a great example: You live in a small town and would like to pursue your lifelong dream of becoming a veterinarian. But you can’t afford the cost of attending veterinary school (which ranges from $65,000-$80,000). So, instead of giving up on your dream, you volunteer at your local animal shelter where you provide care for abandoned pets and serve meals to homeless people. By doing this even in little ways such as working at the animal shelter or providing food for the homeless, you have been able to realize the dream that so many others have wished for — saving lives through animal care!

CONCLUSION

If you use some of these tips, it may be possible to avoid student loans, which can allow you to get out of college debt-free. It takes hard work and dedication to attain such a goal, but the peace of mind is worth the effort and sacrifice. There are many more tips available online that can help students save money for college. After all, if students plan ahead, they can avoid the campus lifestyle and go on to live fulfilling lives after graduation.There are a lot of answers to the question of how to save money for college. It’s not easy, but there are always opportunities out there. Don’t ever  forget that!  Good luck!