Education expenses can be a pain to deal with, especially during a time where costs seem to continuously be on the rise. That’s why we at Kyrabe Stories would like to give a special thanks to Anna Serio from Finder for being our Subject Matter Expert and Guest Writer for this post to help guide you on ways to save on college expenses!
This blog may have affiliate links. This means that, at no extra cost to you, if you so choose to participate in some of the learning opportunities here, we at Kyrabe Stories may receive a commission as gratitude from the partnering companies. Thank you sincerely for your support and for your desire to learn and grow! I hope you enjoy the blog!
From newspaper editor in Beirut to trusted loans expert in the US, Anna Serio has published more than 500 articles on Finder to help Americans strengthen their financial literacy. Anna writes about personal, student, business and car loans supported by two years of increasing expertise. Today, digital publications like Fundera, Business.com, Success.com, and ValueWalk feature her articles that offer professional advice and best practices with financial products.
With top private colleges charging close to $80,000 a year and student debt on the rise, cutting back on college expenses is more crucial than ever. While not everyone can get a free ride, you might not need to borrow as much as you think to go to your dream school.
You can save thousands of dollars on your degree by earning college credits ahead of time. Taking AP classes is a start, but don’t slack off! You need to score high enough on the test to use the credits at your new school.
Some colleges also offer college-level courses to high school students, which you can take after school or over the summer — usually for free or at a discounted price. Or you can test out of lower-level courses by taking a College Level Examination Program (CLEP) to knock out requirements. These come with a one-time fee of $89.
You need to fill out the Free Application for Federal Student Aid (FAFSA) to be considered for federal student loans and grants. But some schools also use the FAFSA application to determine your eligibility for institutional aid.
Many schools offer aid on a first-come, first-served basis. Submit your FAFSA as soon as you can after it’s available on October 1st. This can translate into more free money for school.
If you’re serious about saving money on school, maxing out your free aid options before taking out loans is a must.
Many private organizations offer scholarships and grants to students based on academic interest or demographics. But there are also more unusual scholarships out there to get small amounts of funding in a fun way — like writing an essay on zombies or entering a duck calling competition.
Pro tip to save on college expenses: Apply while you’re still in high school. You don’t need to know where you’re going to college to qualify for many of these scholarships.
Having good grades isn’t only important for getting into the school of your choice. Many scholarship programs and even some need-based grants have minimum GPA requirements — usually around 2.5 or 3.0. You also need to keep your grades up to remain eligible for federal aid, including federal student loans.
Some organizations offer
Not all colleges come with a $75,000 price tag. There are several schools across the country that offer full tuition to all accepted students, like the Macaulay Honors College in New York City or Deep Springs College in California.
Got the travel bug? You can also get your degree from some European schools for free or as little as a few thousand dollars a year.
One of the great benefits of being a student is that you qualify for more discounts than you ever will — at least until you turn 65. You can get discounts on almost everything — including that new laptop, your flight home, and dorm furniture.
But you need to know where to look. Make an account on a platform like Unidays or Student Beans to browse discounts before you go shopping. Typically, all you need is a student ID and student email address to qualify.
Textbooks are surprisingly expensive — it’s not uncommon to drop hundreds of dollars a semester on your required readings.
But you don’t necessarily need to buy that Bio 101 textbook you’ll never crack open again. More and more textbook companies are offering rentals — many of which are available online. This can shave thousands off your cost of attendance come graduation day.
Graduating with a lot of student debt can seriously limit life after college. Cutting down on your expenses now can make it easier to do all those things you’ve dreamed of doing in your 20s. Like traveling the world. Or taking that more interesting but lower-paying job to build your ideal career.
Apply for free aid as soon as you can and stay on top of your grades. If you don’t know where to start, talk to your high school guidance counselor or your college’s financial aid office about more ways you can save on college expenses.
Once again, many thanks to Anna Serio from Finder for her expert advice on cutting expenses for college!
What are some ways that helped you save on college expenses? If you are in college, what are some challenges that you face that you’d like for us to address in a future post? Please leave your stories and inquiries in the comments below and make sure to subscribe to the newsletter for future learning opportunities!
And as always, remember to just live your life one story at a time!
Take care,
Kyndall Bennett from Kyrabe Stories
P.S. For more opportunities for discovering affordable ways to learn, check out our posts “5 Ways to Learn Using Social Media” and “My Top 5 Affordable Ways to Educate Myself.”
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With 4 kids I’d better start doing these now.
Wow! Depending on what each kid develops an interest in, I also recommend looking into Technical/Trade schools as well. The courses are usually way more affordable. My fiance is going through a 10-month condensed program for Information Technology which totaled out to be about $20,000 compared to the nearby colleges which would have charged on average $50K-$75K. If he does decide to go for a degree instead of just the certifications, then the courses can transfer over (but check with each school about the eligibility). We also have a "Services and Tech Recommendations" page (https://kyrabestories.com/service-and-tech-recommendations/) where we'll be linking other more affordable learning opportunities that we have either tried ourselves or have been recommended with high regards.
Great tips! College is SO expensive this advice can help a lot of families!
Thank you, Holly! Yeah, I was lucky to have earned my G.I Bill before college, but I see so many of my colleagues stressing over the interest rates that are slapped onto those loans! I'm hoping to be able to grow the blog enough for it to be a quick resource to eliminate at least some of those outrageous expenses!
I love it!! I'm moving one kid into college on Friday and another one is beginning the application process for next year! Fantastic info!!!
Thank you, Melissa, and congrats to your kids! College is definitely an interesting chapter to explore, but it's a lot better if the students and parents have less of a financial burden to carry along the way!
Lots of good tips - it’s amazing how many grants and scholarships are out there when u start to hunt for them! Thank for sharing.
Thank you, Jen! Yeah, I wish I had known of more places to look!
This is very really unique helpful information. keep it up. Thank you so much!
Thank you, Martina, and many thanks to Anna from Finder for offering to provide this information for the blog! Her LinkedIn profile is linked through her name in the post if you have specific questions for her!
Thanks for the great tips! We are entering this stage with my oldest son and looking to save wherever we can!
Depending on where your son's interests are, I would also recommend looking into Technical/Trade schools. My fiance is going through a 10-month condensed training for Information Technology for $20K, and although it's just the certifications, if he decides to pursue a degree, he can transfer the courses over and continue from there. Each school may have different rules and accreditation, though. We also have a "Services and Tech Recommendations" page (https://kyrabestories.com/service-and-tech-recommendations/) where we'll be adding various opportunities to help guide avid learner towards more affordable options. ❤