With student loan debt at an all-time high, saving on college tuition is more important than ever. In fact, many students are getting smarter about their college choices and, in some cases, even opting to study online.
However, there are still a few ways you can get a traditional college experience while saving on your education costs. And with the mounting cost of student loan debt in the U.S., saving money on tuition is more important than ever.
That’s why we put together a list of the top 5 ways to save money on college tuition.
1. Start With Community College
Community college is the most affordable way to begin your education. By starting at an in-state community college, you gain access to both federal and state financial aid options while also saving THOUSANDS compared to private universities.
Financial aid tends to go further at community college due to the overall lower cost of attendance. Additionally, you don’t have to worry about the cost of student housing or meal plans, which can significantly reduce the amount of money you need.
2. Filing FAFSA®
At Frank, we’re all about filing FAFSA®. You can fill out the application in under 7 minutes and be on your way to saving thousands of dollars on your college education.
The application qualifies you for aid like Pell Grants and other institutional-based scholarships. It’s your first step towards getting assistance that you don’t have to pay back. Applications open every year on October 1st, and the sooner you file, the more likely you are to get the maximum amount of aid.
Whether you believe you’ll get money or not, every college student should file FAFSA® every year.
3. Dual Enrollment
Attending two colleges at once can often be a saving grace in terms of college costs. Taking classes at a more affordable college, such as a community college, while being primarily enrolled in a four-year institution, allows you to save on credit costs. While a three-credit course can cost $2000 at a private university, a community college is only a couple hundred.
You can read more about how dual enrollment works here.
4. Apply for Scholarships
You don’t need a full-ride scholarship to save money on your education. Applying for multiple small scholarships is a big help when it comes to capping your student loans.
Our advice? Apply for as many scholarships as you can. Even the little ones will help you pay for things like books and fees you might not even be thinking about. You can use resources like Scholarships.com, Fastweb.com, and Unigo.com to help you find a scholarship you qualify for.
5. Use Classfinder By Frank
Frank’s newest product, Classfinder, is a service that allows students to access affordable online classes at up to 70% less*. Our goal is to keep students on track to get a degree while saving the maximum amount of money in the process.
You find your classes by searching our database, purchase the one that works for you, and once your school approves it, you’re good to go! In most cases, you can even use your remaining financial aid money from FAFSA® and get reimbursed for what you spent on the class.
Going to college and figuring out how to save money on tuition isn’t easy, but you’re not alone in the struggle. Students all over the country are trying to find ways to save on college tuition. These five options put massive cost-savings right at your fingertips.