Save on College Expenses

I could go on and on with this subject as there are so many ways to cut costs when sending your child off to college. Here are just a few. Will be adding additional tips in another blog pertaining to tuition and scholarship programs to apply to. There are many grants and scholarships out there today to ease some financial burden. To get started have a sit down with your child and come up with a game plan and responsibilities of what is to be expected. That being said, here are a few tips to keep in mind:

• Buy used books. When my kid came to me and said she needed $500.00 for a book, I wanted to have her drug tested. It's a book for gods sake, not a flat screen TV. To my amazement it was true. Save by buying second-hand texts from the campus bookstore and selling them through the store on consignment once you’ve completed the course. Or go online to search for used books through a variety of Web sites. Your college may even have a campus Web site where you can buy previously owned texts directly from upper-year students. Check with your professor to see if you can use an older (and often cheaper) edition. Also save by only buying books you'll need for the year. Use library books to meet short-term needs. The costs of these books is ridiculous.
•  Buy school supplies in bulk . Stock up on notebooks, paper, computer supplies, pens and other items at an off-campus discount or bulk supply store(e.g Costco, BJ's.) Stores on campus tend to be more expensive.
• Comparison shop. Shop around on items you will use regularly, such as laundry detergent, toothpaste, hair products, soap and basic groceries. Use coupons and stock up when items go on sale.
• Socialize on a budget. Restaurant, pub and theater expenses can be really kill a budget. Instead:
• Take a picnic to a park.
• Bike or hike in the great outdoors.
• Look for free on-campus concerts, readings, movies or other events. It's a great way to meet new people 
• Visit museums and art galleries that offer student discounts.
• Attend second-run cinemas and discount matinees.
• Take the public transportation. Public transportation is considerably less expensive than the cost of buying a car and paying for insurance, maintenance, parking and gas. Living near campus may allow you to walk nearly everywhere, but make sure you won’t pay for that luxury with higher rent.
• Cut phone costs. Shop around for the best discount phone plan. If you make a lot of long-distance calls, you may be better off with a flat-rate plan that includes nation-wide long distance. If you have a cell phone, avoid using it outside your local calling area so as not to incur potential extra “roaming” charges.
• Use a debit card. A debit card can be just as handy for day-to-day expenses as a credit card. Because the money is deducted directly from your bank account, you won’t be tempted to spend more than you have. You will also avoid the potential high interest rate finance charges levied by credit cards on unpaid balances. 
• Save on banking. Banks offer many different options for checking and savings accounts. Some charge fees for writing checks, for instance, while others don’t. The interest you earn on your savings can also vary from one institution to another. So research the best fee and rate structure before you put your money into a financial institution. Balance your checkbook. Most banks charge penalties for bounced checks. There are many banks offering  free student accounts, so check into it. 
• Live off-campus. Living on campus can be costly. Renting an off-campus apartment with a roommate and sharing accommodation, food and other expenses is often considerably cheaper.
• Shop secondhand. Secondhand furniture is much less expensive than new items. Look for desks, tables, dressers, couches, chairs, lamps, reconditioned appliances and carpets at local garage sales, flea markets and charity shops.
• Enroll in a Tuition Rewards Program. This program offers over 150 colleges and universities give matching rebates in the form of reduced tuition if a student attends one of the participating schools.
• Enroll in a cooperative education program. Get college tuition assistance and avoid student loans by combining going to school with working in your major field of study. As an example, you may work for a semester and go to school for a semester. It will take longer to complete the degree, but in the end you will have hands-on experience, no loans and a potential job offer. Visit the local library to get a copy of the Directory of College Cooperative Education Programs. This directory, which is published by the National Commission on Cooperative Education, lists over 460 colleges that offer cooperative programs.
• Attend a community college and transfer to a 4-year school. This is a terrific way to save on room and board by staying at home while earning vital college credits that cost less than they would at a more expensive four-year school. Get a written agreement with the four-year college to which you plan to transfer after two years to make sure they will accept your credits.
• Accelerate your degree program. Look for schools that will allow you to complete your degree in less than four years. Some schools allow students to complete course work for a Bachelor's Degree and a Master's degree for the cost of a Bachelor's Degree. This option represents a significant savings over the cost of a full-semester course in the classroom.
• Take Advance Placement courses. While you are in high school, take advance placement courses. If you pass the exam for the courses, that means there are less courses you will have to take (and pay for) while in college. Check with your high school guidance counselor or with the college admissions office for eligibility requirements and program specifics.
• Stay in state. Many schools charge out-of-state students much more than they do in-state students. As an example, during the 2006-2007 academic years at the University of North Carolina at Chapel Hill, a North Carolina resident paid $5,034 for tuition, while an out-of-state student paid $19,682.
• Use the College-Level Examination Program (CLEP). CLEP gives students an opportunity to demonstrate college level knowledge that they have gained through independent study, advanced high school courses, or noncredit courses. You take an exam (which costs approximately $50). If you pass, you do not have to take that course in college. That obviously saves on the tuition cost.
• Attend the school where your parents work. Many schools offer a free education in the form of tuition remission to employees' children. UCONN is a good example of this.
• Use Tuition Exchange. If your parents work for a college but you want to attend another college, there are over 500 colleges that have set aside money for tuition exchange. That means that you get the same tuition remission as you would at the college at which your parents work.
• Commute. You can save thousands on room and board by living at home.
• Attend mom or Dad's Alma mater. Some schools offer a partial tuition remission for children of alumni.
• Take summer classes. This is a terrific way to earn extra credits that can hasten your graduation day, thus cutting tuition costs.

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