By Mike Lazear: PICurrent Assistant Producer
During my college years, I remember hating the cost of textbooks, cafeteria food and tuiton. And I was an in-state student, so my costs were actually not all that bad. In fact, I was lucky.
The cost of education is now much higher than it was in 2003, and it is about to get far worse. The struggling economy is affecting many different markets, and it appears as if education is next.
One online survey actually found that 16 percent of prospective students decided to forgo higher education for now because they simply couldn’t afford it.
As the economy continues to decline, campuses are beginning to feel the heat. Students planning on entering college next fall will definitely need to plan accordingly. Financial Aid and lenders are going to be more cautious, therefore it will be more difficult for students to borrow money for school.
Because higher education is strongly linked to better jobs and higher pay, people cannot afford to simply stop going to school because it is too expensive. But the choices are not easy.
If you’re in this position, you don’t have to give up your dreams of going to college entirely! First, the markets will eventually get better. But, you don’t have to wait. You may just have to plan to do a little more to make it happen.
Some Things to Remember
- Working a part-time job while you are in school is almost always a possibility
- Look for grants
- Look for low-interest loans
- Take college level classes while in high school (saving you future tuition credits)
- Consider enrolling part-time or on a class-by-class basis at first. There is no law that says you must graduate in four years. Go to school at the rate that is right for you.
- Look seriously at community colleges. These two year schools are usually less expensive, can be a stepping stone to a four year school and they offer good degrees in their own right.
If all else fails, you could consider taking a year or two off and working, or even studying abroad. One advantage to this is that if you fall in love with another country, you can always attend school there!
To learn more, check out my earlier post on Tips for Cutting College Costs. Also, look at our recent three-part series on how to get into college:
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Nice saving tips. Although students may also try applying to accredited online degree programs to cut on college costs as well. Working while studying certainly fits the benefits of flexible study schedules offered by online degree programs.
Taking online college courses may help cutting back on those extra costs – commute, food, board and lodging etc.
[...] out our previous post Higher Education? It’s Just Higher In Cost. Also, visit our sister site, The Beehive, for more information about the ins and outs of college [...]