5 Ways to Cut College Costs

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Posted by Elizabeth Retton

The thrill of heading off for a college campus and beginning your adult life is an age old American tradition, one filled with images of attentive and intriguing professors, fraternity or sorority hijinks and friendships to last a lifetime. While college has always been an expensive investment, a combination of the federal loan process, scholarship awards and family assistance have typically allowed most students who wish to pursue their secondary education the chance to accomplish their dreams. Unfortunately, today’s bleak economic outlook and constantly rising tuition expenses have made attending college a cost prohibitive endeavor for many ambitious American students. With the increasingly corporatized nature of major university administration throughout the country, students are being forced to shoulder the burden of failed investments, imprudent expansions and other institutional expenses. Fortunately, amidst the financial storm gathering over the country, there still several effective ways to cut college costs. Consider the following list of five ways to lower your college expenses and apply them to your routine to secure significant savings on higher education.

1.) Ditch the Traditional Textbook Model – One of the most time-honored of college traditions involves purchasing overpriced textbooks at the university bookstore, using them for a semester’s worth of classes and then reselling them to the bookstore at a drastic loss. While beneficial for your alma mater, this practice of essentially renting textbooks and paying exorbitant fees to do so is simply not financially feasible. Instead, share textbooks with your classmates and friends, locate the same materials in the school library, or better yet, download the relevant text online.

2.) Forgo the Fast Food – Other than avoiding the notorious “Freshman 15,” refraining from fast food during your time on campus is a great way to save money. Eating out every night may seem convenient or socially necessary, but fast food prices can quickly add up and eat away at your budget. Most major universities practically force incoming freshmen into purchasing pricey meal plans as well, so make sure to avoid this common trap. The secret is to visit the grocery store on a weekly basis and stock your dorm room with affordable essentials.

3.) Use Alternative Transportation – Between the extortion of campus wide parking plans and ever rising gasoline prices, driving a vehicle while attending college is a sure way to drain your bank account. Walk or ride your bike from the dorm room to class, spend the day on campus and avoid driving unless absolutely necessary.

4.) Avoid the Credit Card Conundrum – While some plastic in your wallet for everyday expenses may seem like a good idea, these cards are almost always a bad idea for college students. Dodge the interest rate hikes and pressure to pay monthly bills by sticking to cash.

5.) Attend an Online University – Today’s online colleges are fully accredited and are home to qualified, dedicated teaching staffs. You can pursue an online masters in education for literally half the cost of earning the same degree at a brick and mortar school.

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