How to Slash Your Education Costs
If you pay full-price for your education, you will likely have to take out and repay student loans to finance your degree. If you want to rely on loans less, you can often do so by reducing the amount of money you pay for your education. Here’s how:
– Look into alternative courses. Taking Advanced Placement courses and tests in college could save you hundreds of dollars in your first year at college, since these courses can count towards college credit. Don’t overlook online classes and programs, which often feature a lower price tag.
– Check out low-cost housing options. Other than your tuition, you living expenses will probably make up the bulk of your educational costs. Consider all your options – renting a house with friends may be cheaper than roommates or dorms.
– Reduce living expenses. Buy used textbooks, consignment clothes, and generally stay away from consumerist behavior. The less you spend now, the smaller you debt load in the future.
– Keep track of small expenses. You probably don’t even notice when you spend small amounts of cash, but those tiny amounts can add up. Keep a running total of all your expenses (even the tiny ones) on your cell phone or computer. Once a month, take a look at your expenses and look for ways to slash spending.
– Look out for small, regular expenses that add up. If you spend $20 a week on movies and pizza, you’re spending $1040 a year on that luxury. That’s a lot of cash. If you rent a movie or take in a free event (like a concert) every other week, you could slash that amount by half.