The cost of attending college is rising at an exponential rate. In recent times the number of jobs available to graduates has declined, and so have the salaries. The old theory of “go to college, you can pay off your student loans when you graduate” isn’t the best meathod for attaining finacial success. There are ways to reduce expenses and increase incomes, it is a decision that doesn’t require a college degree. (pun intended). The following is the average cost of college tuition and fees according to the United States Department of Education.
Public 4-year college in the US
Tuition: $5,950
Room: $4,072
Board: $3,402
Total: $13,424
*According to United States Department of Education*
1. Tuition
The chart only represents the cost of in-state tuition. The cost to pay out of state tuition is close to twice as much as in-state. So just by attending a public college in your state you can save thousands of dollars. Maybe your state doesn’t have a college that offers your desired degree, or perhaps the schools don’t meet your standards. The good news is there are a few ways to lower out of state tuition. Contact colleges in neighboring states, often times there are special programs to wave the out of state tuition. Several colleges form regional groups that “trade” students, for example, one state will let five students come from out of state and only pay the in-state, but only if the other state does the same. The bad news is that these opportunities to get a lowered tuition are very rare and often times specific to certain degrees.
2. Room and Board
This is the fun section, this is where a huge difference can be made. In an eight month school year the $4072 becomes $509 per month. I am not sure if that number includes utilities or not. I imagine that in some parts of the country, that number is realistic when including utilities and in others it is not.
If you are single you will have a broader range of choices. You can practically choose the price you want to pay, from as low as $200 per month to thousands and even millions if you really wanted too. To find that $200 per month apartment is difficult and no existent in some places. When attending a small community college I lived in one of these $200 dollar per month places. There was two large bedrooms, living room, full kitchen, two full baths, and a garage. I had to share this small space with five other guys, not exactly home sweet home. Utilities were extra, about $150 split five ways is $30. WiFi Internet was provided at no extra charge. A good place to find reasonable rent is to find someone with an extra bedroom. Many elderly folks rent out the rooms in their basement. These are great deals but require that you be an upstanding person of good character. To find the cheapest apartment requires doing research and making some contacts. Google search for apartments close to the school to get an idea of the current market and what is available. Craigslist is another great way to look for a place to stay.
Be sure that you understand what is included in the rent and what is extra. Does your rent cover laundry, or do you have to use a quarter machine? Is internet included? What utilities do you have to pay? You should also find out how much the utilities bill normally is for that particular apartment. In the end it comes down to simple mathematics.
If you are married the pick’ins are more expensive. I have found some interesting and affordable alternatives. If you are a small family or just a couple then you could consider living in an RV. Before you say no lets consider the following. In an apartment you pay $600 rent, and $150 utilities (water, sewer, electricity). You pay $250 per month for the RV, another $300 per month for the space in the RV park. This space rent includes all utilities all the time, includes Internet, and often times cable TV. The apartment totals $750 per month and all that money goes to the landlord. In an RV you pay $550 per month, but the RV retains some value, so the real cost of your place is depreciation plus interest (if you financed the RV).
Another way to cheapen up the room and board is to make your own food, avoid eating out. Do the math you will see that eating out adds up quickly.
3. Money to Pay For it All
Get a job. Anyone who says that it is hard to work while going to college is fooling themselves. It just takes some hard work (which never killed anyone). Where should you work? There are always a handful of local companies that strive to hire students from their local college. There are also a lot of national companies that have great student job opportunities, for example UPS, Fedex, Wal-Mart, etc.. Do some searching. Find part time work in your field of study. You may have to do allot of free work to get your name and reputation out there then you can make some money. Work at the college under the work study program. Mentor high school students. The list goes on and on and on, be creative.
When summer rolls around it is time to do some slave labor. Summer sales has become a popular choice to many. From selling security systems to pest control there is a long list of places and items. Look for temporary seasonal jobs. These seasonal jobs are often times found in more rural parts. The agriculture industry is very busy during the summer times. The oil and mining fields always have temprary positions to fill.
The FAFSA can be worth the time if you meet certain criteria. Fill it out ever year because the laws continually change. If you are married and/or have kids you could be in for a real treat. The government starts handing out money like candy. The amount of money recieved is based on your and/or your parents income and the cost of your schooling. They also offer low interest student loans for those that don’t qualify for “free” money.
Scholarships can also prove to be a great source of money. Fill-out and apply for as many scholarships you can find, its a number game. Lets say you fill out five scholarships per day, that’s 1,825 a year. If you can manage to win 10% of those with an average of $1,000 that comes to $182,500. Worth the time? Even if you only were awarded 1% it would still be $18,250. Getting good grades and filling out scholarships can be a great way to receive LOTS of money.
In the end, where there is a will there is a way.
Tags: affordable, board, cheaper, college, Education, employment, FAFSA, fees, money, pay for, room, scholarships, tuition, unemployed, United States Department of Education