1. Consider State Colleges & Community Colleges: Many have transfer agreements with not only other state institutions, but private colleges. A move that can save you $90,000 -$120,000 over two years.
2. Review College Fee Options: Colleges charge different fees for different types of dormitory styles and for various meal plans.You can save money by choosing a dorm room with more roommates or a a more limited meal plan.
3. Live Off-Campus: Most colleges require freshmen to live on campus, but upperclassmen can save substantially on housing by living off campus with roommates.
4. Find On-Campus Work: Beyond College Workstudy, which is need-based Federal Financial Aid, many colleges have Student Employment Offices. If you campus does not have a Student Employment Office, consider stopping by the College's Human Resource Office and inquire about part-time positions on campus. Take it a step further and consider a full-time job on campus if your college offers tuition assistance for employees!
5. Analyze Entry Level Salaries VS Anticipated Debt: Research the average entry level salaries for the career you are interested in pursuing after graduation and the average student loan debt you expect to incur based on your specific college and degree choice.
Those soon to graduate or recent grads should follow these tips:
1. Choose Your Federal Student Loan Repayment Option Carefully: The US Department of Education now offers 7 different student loan repayment options. Choosing the option that best meets your needs and situation can save you thousands of dollars in repayment.
2. Consider Consolidating Your Federal Student Loans: If you have borrowed for college through multiple federal student loan programs, (FFLEP, Direct, NDSL, Perkins, etc.) you may benefit from consolidating your loans. Interest Rates are averaged and you make one payment a month instead of several.
3. Check for Loan Forgiveness & Repayment Programs: Depending on your college major and career goals you may be eligible for a loan forgiveness or repayment program. Generally these are for those interested in high need careers.
4. Look for Job In Cities that offer Loan Repayment: Some cities and town are recruiting people to move to their areas by offering to pay off new residents student loans.
If you need help with your college planning or post college planning contact me at headforcollege