Nowadays college can cost such an excessive amount of money that it can be discouraging to even think about it. But there is a cheaper way, one where you can graduate from a typical college for less than $11,000. This is explained by Dr. Gary North here. However, if you do go to a conventional college, with the customary costs, there are two things that you should never do. First: don’t get a credit card, it just means debt; loads of it. Second: NEVER budget by gut alone. This will lead to financial disaster.
The inordinate cost of college is mainly due to the expensive tuition and costly textbooks that are required. But, buying used textbooks is a lot cheaper and can save you thousands of dollars. Yet, there are several tiny, unexpected costs, such as copier/ink fees, that are often not budgeted because they are not considered important. These costs can spell disaster for your savings, unless the cost is budgeted properly.
Applying at a college is also another colossal expense. The expenditure required for requesting scholarships and going through tests is larger than expected. You can pay your way through college using student loans, and they are simpler than scholarships. But student loans spell a disastrous word loud and clear: DEBT, which can be larger than imagined. One way to cut costs is to use CLEP (College Level Examination Program)(Click here or here) exams or filling out the FAFSA form (Free Application for Federal Student Aid)(Click here or here).
Another unexpected expense in college can be the partially budgeted cost of food, clothes, vacation, travel and housing. Sometimes you can split the costs of large items with your roommate, if he/she agrees of course.
Are you going to live on or off campus? This sometimes is not a choice. But if it is, which option is cheaper? Think mainly about the cost of food and transportation.
The easiest way to combat all these daunting expenses, other than scholarships, financial aid and bankrupting your parents is to work through college. Many colleges and universities offer jobs to students. However, you can also embark in entrepreneurship.
Either way, you must try to find the solution that works for you and is the cheapest.