College expenses are constantly rising. Some blessed souls have their education expenses covered through a prepaid tuition plan setup by parents; however, others are responsible for their own education expenses. Whatever the case may be, it is wise to reduce your spending as much as you can and carry that frugal mindset with after you graduate and enter the world.
Here are some ways you can reduce your living expenses while in college:
- Live at Home (more than half of tuition cost consist of room/board and nutrition expense. Living at home will cut your tuition cost tremendously)
- Apply for a Work Study Job (the money earned from this job can be put towards your tuition)
- Get a Roommate (or find a cooperative living situation. The cost will be much cheaper than living on campus)
- Attend a Community/Local College (Students who chose to live at home a can attend a community/local college at a lower tuition cost)
- Become a Resident Assistant-RA on Campus (RA’s receive Room/Board discounts, this type of position will help build/enhance your leadership skills, and it would look great on your resume)
- Keep Track of Your Spending (Some of us need to get student loans or personal loans to sustain us through college. Keep track of your balance periodg, return any refunds while in school, and start paying on it BEFORE you graduate)
Hopefully these tips will help you lower your college living expenses and reduce your student loan balance that you will have to start paying back soon after you graduate. If you are receiving student loan funding while in school, don’t lose sight of how much you are accumulating over the course of four years – IT WILL ADD UP FAST!!
Valerie Y. Waller, PhD