Twelve Tips to Help Parents Cut College Costs

Who isn’t feeling the economic crunch? College funds have dwindled, investments have taken a hit, and job layoffs continue to add to feelings of economic instability. Parents with children headed to college this year or next are wondering how to cut college costs. It has led some families to discourage their children from applying to schools they don’t feel they can afford, even with financial aid and scholarships. Paying for college is a real concern.

Here are twelve tips to help parents cut college costs:

1. Encourage high school students to study hard and make the best grades possible in challenging classes. Students should also try to get the best SAT and ACT scores. This may require test prep or tutoring, but it is worth the money. Often times merit scholarships are based on grades and test scores. Scholarships are a great way to help pay for college.

2. Start searching for scholarships early in high school. Many are available to students from 9th through 12th grade. Look into organizations that sponsor scholarships such as Rotary Clubs and the Elks. Even if the scholarship is a small amount, it may help to pay for books and supplies. This helps cut college costs.

3. Make sure students meet all deadlines for signing up for the SAT and ACT as well as for college applications and scholarships. Don’t incur late fees or lose out altogether. Those $16 late fees add up and don’t help to cut college costs.

4. Look at schools where your student can graduate in four years. Most students take five or six years. This can add two additional years of tuition and living expenses. Schools that are committed to seeing their students graduate in four years can save you a lot of money.

This may cut college costs more than anything.

5. Help students find schools that are a good match. Transferring to another school can lead to lost credits and additional expenses. Educational consultants are experts at helping students find schools that are a good fit and where they will want to spend four years. To find qualified consultants in your state, go to http://www.hecaonline.org.

6. Consider a wide variety of schools, including both public and private. Some families have found private schools can actually cost less than some public universities. Private schools are also a lot more generous with financial aid and scholarships.

7. Borrow all the federal money you can before turning to bank loans. Money that does not need to be paid back is what you should go after first.

8. Help your student find textbooks that are used by looking online. Students sometimes can even share a book with another student. It’s amazing how expensive books can be and how this can cut college costs.

9. Explain unusual circumstances to the financial aid director in a letter or negotiate a financial aid package. Most colleges want to help you find ways for your student to attend their school.

10. Allow your student to take more responsibility for his or her education by contributing summer earnings or money made from part-time jobs for college expenses. This usually makes students a lot more serious about their education and paying for college.

11. Consider a community college. Students can take their core requirements and then transfer to a four year school or add to their college credits by taking courses in the summer. Community college is a real bargain and makes a lot of sense. Community colleges are less expensive and can cut college costs.

12. Teach your college-bound student to budget for weekly, monthly, and yearly expenses. This is an important lesson that will last a lifetime and cut college costs before they begin.

The dream of going to college doesn’t need to turn into a nightmare. No one wants a student to be saddled with debt, but there are creative ways to avoid that, and cut college costs. Take time to research all of your options so that your student can have the best college experience possible. The earlier you start the better.

Susie Watts is an educational consultant and assists students with their college search, applications, and cutting college costs. She is a test prep coach and provides tutoring, classes, and an online course. To find out how College Direction can help your student, go to http://collegedirection.org

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