6 Ways to Cut College Costs by $120K
Wednesday, November 10, 2010
1. Complete your degree in 3 years.
There are a growing number of colleges now offering a 3 year route to a bachelor’s degree. Hartwick, Bates, Lake Forest, Seattle U. and UNC Greensboro all have 3 year programs. In reality, you can structure your own path to a 3 year degree at many universities if you minimize your electives, take an extra course each semester and/or maximize your AP credits. At a private college, this could mean $50K in savings!
2. Apply to colleges where you fall in the top 10-20% academically.
Most colleges determine merit aid based on your GPA (some also use SAT/ACT scores and/or leadership roles). You are unlikely to receive much merit aid at your stretch schools, and you will often get the most at your backups. You can see GPA and SAT ranges to gauge where you stand at sites like Collegedata.
3. Explore New England.
The New England Regional Student Program allows students to attend another New England state university, if a
4. Opt for a co-op college.
Students earn significant money at paid internships through colleges with co-operative education programs. Purdue co-op students take home approximately $2300 per month and Cornell engineering co-op students around $3700 per month.
5. Cross the border or hop across the pond!
You can go to the FINEST colleges in Canada, Scotland or Ireland for about half of what it costs to go to most private colleges in the U.S. Tuition, books, room and board at McGill or St. Andrew’s total approximately $25,000 per year. Stack that up against Harvard’s whopping $55,000 per year (books not included), and you could save $120K over 4 years.
6. Give back to your country.
Programs like the Peace Corps, AmeriCorps, Volunteers in Service to America (VISTA), Teach for America, City Year and Reserve Officers' Training Corps (ROTC) provide funds during college or help pay off loans in return for a service commitment after college.
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- 6 Steps to a Killer College Application
- Colleges with the Best Co-Operative Education Programs
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