With college tuition rates and the cost of studying constantly on the rise, it’s no surprise that the majority of students and prospective students are trying to come up with different ways in which to save money on their education. Whether you’re thinking of saving money on your tuition fees by looking for alternatives, or are trying to find ways to be thrifty when it comes to the cost of student living, you’ll be glad to know that saving money as a student isn’t impossible. We’ve put together some of the best things that you can do in order to save money when completing a degree or other course.
Online degree programs are becoming more and more of a popular option with thrifty students. Studying online is often a lot cheaper than studying at a traditional, physical educational institution, thanks to the reduced need of the institution to cover costs such as maintaining buildings on campus. On top of that, studying for an affordable online MBA or other degree course will also save you money on the cost of living, since there is no need to move to another area in order to be closer to campus or pay to travel to class each day.
Live Closer to Campus
If you still want to attend a traditional college or university, living closer to campus can save you money. Many students find that a large chunk of their expenditure comes from travelling costs, whether this be paying for gas and other fees to run a car, or public transport costs. Living close to campus means that you can get there on foot or on a bicycle, reducing the cost of travel. This is also a healthier option which means you’ll also get some free exercise.
Apply for Scholarships and Grants
There are a wide range of different educational scholarships and grants which are intended to help students financially whilst in college. The grants and scholarships available are designed to help students in a number of different situations, and you may be surprised to find that you could actually be entitled to some money to assist you during your studies. It is a good idea to check with the colleges that you are applying to about the different grants or scholarships that they have available and whether or not it would be worth your applying for one.
Create a Budget
Many colleges have on campus financial advisors who’ll be able to help you to create a budget and stick to it whilst you study. Even if this doesn’t result in you saving money on your tuition fees, it’s a good idea to seek advice in order to help you manage the money that you do have better and make some savings on the cost of living. If you’re not sure where to go for help, your course leader or other professor at your college will be able to advise.
How do you save money on your education? We’d love to hear from you in the comments.