Weekly Tip July 24: School on the Side: Finance Tips to Keep Your Education Affordable

<span>Weekly Tip July 24:</span> School on the Side: Finance Tips to Keep Your Education Affordable
  • Opening Intro -

    If you've missed the memo, college education costs have risen immensely over the past few decades.

    To put things into perspective, according to Think Progress, the average cost of an academic year in 2010 is $7,600, which is up by more than three-folds the 1980-figure that was $2,100.

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At this pace, it’s understandable why so many of today’s generation have inadequate schooling before they are thrown into the real world for a career. Regardless, here are four tips to keeping your college education affordable.

  • Take Advantage of Online Services

    It’s highly unlikely you’ll spend your break hours going over financials on Excel at your college dorm room. A more convenient way exists, however. Set up your accounts online, both through your laptop or desktop and a mobile device. Smartphone apps and online services can make cash management easier and more accurate.

  • Keep Student Debt Small

    You’re probably aware of the sizable amount of student debt that accumulates every year, whether you heard it from a friend, or have read the outcries of millions of students in the US. The issue is not unavoidable. You can easily minimize debt by spending your budget on the right things, which do not include pizza nights, out-of-town barhops, and expensive gadgets you don’t really need for studies. Try to get a good loan and be sure to apply to grants and scholarships before you apply for loans.

  • Pursue the Highest Possible Degree

    A master of public administration program can land you better-paying jobs than a bachelor’s degree. Sure it costs more tuition and time spent earning the degree, but the long-term payoff is definitely worthwhile. Check with your school if they offer any specific financial aid for certain high-level students or masters programs students.

  • Cut Down on Textbook Expenses

    Textbooks are notorious for swallowing up college budgets. With some light research and assiduous shopping, you can find textbooks that are up to 50 percent off their original price. The textbooks you find may be secondhand, but as long as the content is readable, it’s an absolute bargain. Make sure to look for textbooks where the exercise segments have not yet been filled out, otherwise you may be unable to learn and practice what is taught in the subject.

Going to college is a great financial investment that everyone should work towards. With your earned degree, you’ll be able to work in better environments and positions. While there are a lot other ways to keep your education affordable, the four tips above should help you start off with those much needed savings.

Consumer Financing reference:

private student aid programs

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Categories: Weekly Sunday Tips