Key Takeaways
- The cost of college is higher than it’s ever been with tuition doubling since 2000.
- Filing FAFSA, exploring financial aid options, and comparing tuition rates can help make higher education more affordable.
- Earning college credits in high school, considering alternative education options, and working part time are other great ways to help alleviate some of the cost of college.
One of the most common complaints about college is how expensive it is. Since 2000, the average total tuition cost for a four-year institution has more than doubled. And with tuition continually rising, more and more families wonder if they can actually afford it.
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With so much focus on the high cost of tuition, it’s easy to forget that college is supposed to be a time for growth and learning—both inside and outside the classroom. Here are eight ways to make college more affordable so you can focus on your college experience, not just making payments.
1. Fill Out the FAFSA Form
Completing your FAFSA (Free Application for Federal Student Aid) is the first step to becoming eligible for financial aid. By submitting the FAFSA, you can determine how much you qualify for and become eligible for loans, grants, scholarships, and work-study opportunities.
Although FAFSA applications are open for several months, the aid is disbursed on a first-come-first-served basis. The allotted funds are often all given out towards the end of the application deadline. The earlier you submit your application, the better your chances of getting the maximum aid you qualify for.
2. Look Into Financial Aid Options
Once you have completed the FAFSA, you can start looking into your financial aid options. Receiving financial aid can reduce the financial burden of having to pay for college out of pocket. As you begin applying, it is important to explore all of your financial options:
- Scholarships. Scholarships can be merit-based (awarded based on academic achievement, test scores, or talents), need-based (granted to students demonstrating financial need), or major-specific (award to students studying in a specific field). Unlike loans, you don’t have to return the money with interest. Every year, thousands of dollars in scholarship money go unclaimed only because of a lack of applications.
- Grants. Grants work similarly to scholarships in that they do not need to be repaid. To receive and keep a grant, you must meet all of the criteria set for it. Grants provide opportunities and funding for students from low-income families or communities to pursue higher education. One of the most popular grants is the Pell Grant, which provides substantial support to eligible students. The Federal Pell Grant award was $7,395 for the 2024–25 school year.
- Loans. Taking out a loan, or borrowing money, is a common way that many pay for college. However, you should only take a loan for how much you need to cover your college costs. Both federal and private student loans must be repaid.
3. Earn College Credits in High School
Another way to make college more affordable is earning college credits even before sending out your first application. There are a couple of different ways you can do this. One way is by taking AP classes and earning a high score on your final exam. Another option is dual enrollment, where you can take college courses while still in high school.
Earning college credits in high school can allow you to graduate early, which can significantly lower the cost of college. However, if you are considering this option, make sure to find out all the details to ensure that it is the best fit for you. Your high school counselor may be the best person to ask for advice on the different opportunities available and the enrollment requirements.
4. Consider Alternative Options
A traditional, four-year college path doesn’t have to be the only path. Sometimes you are looking to save money, your schedule doesn’t allow it, or your future career doesn’t require it. Know that you have other options:
- Attend Community College. Consider attending community college for two years and then transferring to a 4-year university to complete your bachelor’s degree. Community college costs a fraction of what it costs to attend a 4-year public college.
- Attend Online School. The cost of an average online degree is $54,183 vs. $85,348 for the same degree from a public university. This means you could save roughly $30,000 just by attending school online!
- Consider trade school. There are may great careers out there that don’t require a traditional 4-year college. Trade school programs offer fast-tracked, hands-on training and it’s generally cheaper than college.
- Graduate early. By planning ahead and taking a full class load, you save a whole year in tuition and room and board if you in graduate in 3 years instead of 4 or more.
5. Compare Tuition Rates at Colleges
Tuition, room and board, books, supplies, and personal expenses can add up quickly. Here are some tips to help you when comparing tuition rates:
- Create a List of Colleges: Before factoring in cost, make a list of the colleges you are considering based on your interests, major, and location preferences. This will help you narrow it down when you start looking at tuition rates.
- Weighing In-State vs Out-Of-State Tuition Rates: It’s tempting to want to go to a college far away from home. But the cost of travel, housing, and out-of-state student fees can add up quickly. The cost for out-of-state tuition can sometimes be more than double or triple what in-state students pay. Starting your search closer home can end up saving you a lot.
- Compare Total Cost of Attendance: Beyond tuition, you will need to consider room and board, books, and other expenses, such as the cost of living in the city you will be in. This will help you get a complete picture of the price.
6. Spend Smart
It’s no secret that tuition is expensive, but the rest of your college expenses don’t have to break the bank. With a little planning, you can significantly reduce your costs. Here are some practical tips to help you save money during college:
- Buy Used Textbooks: A large chunk of your college budget can go towards buying new textbooks unless you decide to buy them used or borrow them from other students. Searching online and at your local campus bookstore are good places to start. If you know any students, ask them too. They may have friends looking to sell their old textbooks. When you’re done with your books, you can even sell them off to get some of your money back.
- Live Off-Campus: Renting an apartment or sharing a house can often be more affordable than on-campus housing, but consider additional costs like utilities, internet, and transportation.
- Take Advantage of Student Discounts: Many online and offline establishments offer generous student discounts on all types of amenities. Local businesses, from restaurants to supermarkets to movie theaters and department stores, often offer discounts. You can even get discounts on your technology, such as laptops or tablets. Terms and conditions may vary among stores but it doesn’t hurt to ask. Those small savings on essential items can add up, freeing up enough cash to splurge on fun things.
- Use Campus Resources: Your campus most likely has many free or low-cost resources available to you. Consider going to the campus gym instead of getting a membership, using the library for studying, or taking advantage of the counseling services. This is all there for you, so use it!
7. Budget and Plan
It’s important to be realistic about the costs of college early on. The earlier you can start saving, the more prepared you’ll be. Without responsible budgeting and financial planning, the cost of tuition, fees, books, and living expenses can become extremely overwhelming. Start by coming up with short-term and long-term financial goals related to your education. For example, if your long-term goal is to pay for one-third of your education, you may decide to start saving $150 a month until you reach your goal. Being strategic and disciplined about how you can manage your money can make college more affordable and help you avoid excessive debt.
8. Work Part-Time
Earning your own money helps you learn to manage wisely and gives you financial responsibility. Consider getting a part-time job while you’re in school to help offset some of the costs. You can start saving to pay back loans or just earn some extra fun money to spend with friends. There are plenty of jobs on campus that can work with your class schedule or you may consider working off campus.
Ultimately, the key is to look for ways to make college more affordable without compromising the quality of your education. Implementing these tips will set you up on the right track, putting you one step closer to graduating with less debt and more financial freedom. By taking proactive steps now, you can enjoy your college experience to the fullest without the overwhelming burden of college costs.
| Lender | Rates (APR) | Eligibility | |
|---|---|---|---|
 |
5.50%-16.12%* Variable
3.99%-15.61%* Fixed
|
Undergraduate and Graduate
|
VISIT CITIZENS |
 |
5.54% - 15.70% Variable
3.99% - 15.49% Fixed
|
Undergraduate and Graduate
|
VISIT SALLIE MAE |
 |
5.00% - 17.99% Variable
3.49% - 17.99% Fixed
|
Undergraduate and Graduate
|
VISIT CREDIBLE |
 |
6.00% - 13.75% Variable
3.99% - 13.75% Fixed
|
Undergraduate and Graduate
|
VISIT LENDKEY |
 |
5.66% - 14.72% Variable
3.69% - 14.56% Fixed
|
Undergraduate and Graduate
|
VISIT ASCENT |
 |
3.70% - 8.75% Fixed
|
Undergraduate and Graduate
|
VISIT ISL |
 |
5.62% - 16.85% Variable
3.69% - 16.49% Fixed
|
Undergraduate and Graduate
|
VISIT EARNEST |
 |
5.00% - 14.22% Variable
3.69% - 14.22% Fixed
|
Undergraduate and Graduate
|
VISIT ELFI |
