The best ways to save money on college
While most college-bound students, and their parents, are aware of the high cost of a college education, many don't realize the steps they can take to minimize this expenditure.
Students should take Advanced Placement (AP) courses in high school, if they are able to handle the workload, in order to start college with credits. They should also take an extra course (at no additional cost) each semester during their college years. These efforts should allow them to graduate within four years, or even sooner, and provide leeway for them to double major or earn a major and a minor.
If students are pursuing a field like Physical Therapy or Physician Assistant, they should choose a direct entry program. This allows them to move seamlessly from their undergraduate into the advanced degree program, often cutting a year or more (and a great deal of money) off their education.
More: 2025 high school graduating class largest, most competitive | College Connection
Students should actively pursue college scholarships. Discover.com offers a scholarship search database that includes four million scholarships that are collectively worth over $22 billion. College Board's BigFuture website offers a scholarship search tool to match students with 24,000 scholarships providing more than $1.5 billion per year, with $100 million going unclaimed each year.
Students should also seek scholarships through organizations with which they, or their parents, are affiliated. These include workplaces, religious organizations, Scouts, 4-H, etc. Also, high school guidance offices have applications for all local scholarships which are much less competitive than those for national scholarships.
Getting a job is also helpful in earning funds to be earmarked for college. It's especially beneficial to gain employment with a company like Chipotle, which offers $5,250 per year in tuition reimbursement to its employees – in addition to their salary.
More: Utilize these summer opportunities to boost college applications | College Connection
Students and their families can calculate the estimated out-of-pocket cost of colleges under consideration with the Net Price Calculator provided on most college websites. This is a great comparison tool for determining the likely difference in price between attending an in-state public college, like Rutgers University or The College of New Jersey, with a private college, such as Stevens Institute of Technology or Seton Hall University.
Another extremely helpful resource is the website collegescorecard.ed.gov where students can look up any major and find every college that offers it. They can also see the average amount that students are actually paying to attend each college, after subtracting grants and financial aid, as opposed to the sticker price. It also shows the median salary that students are earning in their field, five years after graduation. Thus, this website is very helpful in identifying which college provides the best value for your money.
Susan Alaimo is the founder & director of Collegebound Review, offering PSAT/SAT® preparation & private college advising by Ivy League educated instructors. Visit CollegeboundReview.com or call 908-369-5362.
This article originally appeared on MyCentralJersey.com: The best ways to save money on college | Opinion
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