5 Ways to Cut Costs For College
|August 18, 2008||Posted by Roshawn Watson under Uncategorized|
Future College Student
Dear Future College Student,
This is a great question and one that will potentially shape your financial future for years (in some cases for decades) to come.
Tip #1 Consider Public Schools
Tip #2 Become an Attractive Student
Take on a challenging high school curriculum (including taking honors and advance placement courses), achieve high grades, score well on standardized tests (enroll in prep course and repeat tests if necessary), such as the SAT and ACT, and become a leader outside the classroom. Depending on how good of job you do here (and possibly your family’s income), you could get a free-ride by becoming an attractive student.
Tip #3 Research Scholarships
I personally used fastweb, but regardless of which books or services you use, try to find as many as possible. Do not be afraid to apply for community and church scholarships. Such scholarships decreased my tuition burden by at least $10,000.
Tip #4 Don’t Borrowing Too Much
If you do take out loans, don’t borrow too much just because you can. My rule for the maximum amount someone should borrow for all four-years is no more than half of what you intend to make in the year following your graduation. For example, if you intend to make $40,000 the year after you graduate, then taking out more than a total of $20,000 in student loan debt means that it would be difficult to pay that loan off. I know people often borrow more than that. Perhaps that’s why most take forever to pay those loans off. Consequently, their own investments suffer.
Tip #5 Consider Working
School is a top priority, but after you get stable, consider taking a job to simultaneously decrease some of your expenses while gaining valuable experience. Personally, I think the best jobs for undergraduate college students are ones that ultimately help you in school or in your chosen career path (once you have decided). For example, if you do exceptional in a class, consider tutoring for the class. You can earn some extra cash while helping your fellow students and developing good relationships with faculty. It’s a win-win-win!
Lastly, if you like this post, please click here to get my Brand New eBook FREE and Propel it, Stumble it, and tag it on Delicious.
Copyright 2008, Roshawn Watson, Pharm.D. All Rights Reserved.
Copyright 2012, Roshawn Watson, Pharm.D., Ph.D. All Rights Reserved.