College Expenses: Seven Ways to Save on an Education

Many people graduate from college owing thousands of dollars in student loans. It isn't uncommon for students to graduate owing $30,000 to $40,000. For people that get married shortly after graduation that means starting out with around $80,000 in debt. Thats a lot of debt for a young couple just looking to buy a house and possibly replace their aging vehicles.

While you may not be able avoid taking out a loan for college, here are six tips to help minimize the cost of your college education.

Choose an affordable school. Quality of education is not directly related to the cost of education. Usually you have several options cover various price ranges. State schools are partially funded by the government, so they are often less expensive.

Consider changing your residency. Most state schools offer greatly reduced rates for residents. Depending on what is required to establish residency, it might be work moving before starting college in order to get the less expensive tuition.

Take a summer job. Getting a summer job that can give you lots of work hours can significantly reduce the amount you need to take out in student loans. You have to save the money you earn in order to have it available for school expenses. If you can find a job that is related to your area of study, it will not only help you financially, but help make you a better student as well. Ideally find a job where they can use your help when you are on spring and Christmas break.

Look for scholarships. Many scholarship programs have been cut back in recent years, but there is still money available. Check with your financial aid department. Also check with your professors. They often know of scholarships that are handled on a departmental level instead of through financial aid.

Try to get a job tutoring. Work study usually isn't at a very high pay rate, but getting paid to teach your favorite subject will often make you a better student while giving you some extra money for expenses.

Consider the total cost. Don't just look at the cost of tuition when evaluating a school. Keep in mind other factors. If a nearby school would enable you to live at home, it might be much less expensive than a distant school with cheaper tuition. If you wouldn't need a vehicle at one school, it might be much less expensive than on that would require your own transportation.

Consolidate college debt. Once you've graduated look for programs that will let you consolidate any debt that you have at a low interest rate. This will allow you to put more money toward the principle and pay it off quickly.

For more information and strategies for staying out of debt, visit the Debt Reduction Blog.

---

Photo Checks ? A Great Alternative in Checking

It's the little things in life that make it interesting.... Read More

Banks Are More Than Just A Place To Park Your Money

If you've been to a shopping mall lately, you've probably... Read More

Identity Theft ? More Tips on How it Can Be Avoided

Recent security breaches at several credit card companies continue to... Read More

Why Live Frugally

What is it about being frugal, why do it at... Read More

How To Place an Online Order for Checks ? It is Easy as 1-2-3

If You Have an Existing Account and 5 Minutes, You... Read More

A Quck Lesson in Saving Money

Did you have a piggy bank when you were a... Read More

Budgeting your Savings - Did You Let Your Piggy Bank Get Away?

I think most of us have at some point in... Read More

Do You Really Need the Power of Money Management Software?

I have been a loyal user of Quicken(R) for more... Read More

Top 10 Ways Managing Your Money Is Just Like Riding a Bike

An avid cyclist and bike racing fan, I sit transfixed... Read More

Save Your Money, Dont Give to Charity Scammers

**If it's Spam, it's a Scam!- If it sounds too... Read More

Debt Management ? More Ways to Save on Gas Consumption

The price of gas continues to climb, and with continued... Read More

One Income Source Is Not Enough!

My personal opinion is that in today's new economy, it... Read More

First Checking Account ? When is it Time?

We all know that money doesn't grow on trees, but... Read More

Knowing Me, Knowing You: Why ID Protection Plans Are Flawed For Fraud

ID theft is a major consumer concern, though there is... Read More

How to Choose Wisely a Credit Card

So, you've made the decision to apply for a credit... Read More

Students Investing in Their Future Need to Manage Their Finances Today

With the A-level results coming out, the long wait for... Read More

Budgeting is Essential for a Single Mothers Success

Today many women are struggling with debt and it's even... Read More

Simple Ways to Save Money

Things are so expensive these days. We seem to be... Read More

Risky Business: You May Not be as Daring as You Think

I thought I was through with exams when I finished... Read More

Budget Planning - Its Elementary My Dear Watson

Does it feel like you have to be Sherlock Holmes... Read More

Financial Security

1) HOW TO LOOK FOR A JOBA) The Chronological Curriculum:1.... Read More

Financial Fitness - Are You Exercising the Right Muscles to become Financially Fit?

Are your financial muscles well toned and healthy or flabby... Read More

Budgeting Before Buying

With interest rates being at an all-time low, I can... Read More

How To Get Ahead On A Low Income

Do you struggle from week to week trying to make... Read More

Help With My Annuity

The cries are heard from the distance, "I need help... Read More