It's no secret that the cost of Higher Education in America can give you sticker shock. As an example, RIT’s website shows its annual cost as $72K! Granted, this figure includes living expenses which everyone has to cover whether in college or not. But even just tuition and books is more than a year's takehome pay for the average American household. However, with some effort and a little creativity, you can really bring the costs down. Here are 3 strategies to reduce your costs before reaching for that loan application.
Go public
Keep in mind that public schools, which receive some of their funding from the state government are likely to cost less than private colleges. Many state schools (Georgia, California, Texas, Illinois to name a few) are highly ranked with a variety of great majors. As an additional bonus, some great state schools are in locations where the cost of living is generally lower.
Become a local
If you're considering a school not in your current home state, find out the qualification for in-state tuition. In some cases, receiving a scholarship or working on campus will shift your tuition and fees to the in-state rate. But you won't know unless you ask.
That first credential
Depending on the profession you intend to enter, an Associates degree might be a good place to start. They can provide a hefty pay boost compared to jobs only requiring a high school diploma. You can earn enough to pay to complete additional education. For instance, Nurses can complete an LPN, then ASN , then BSN , for career progression. Legal students can first work as a para-legal to complete additional college before law school.
State-specific tuition reduction programs
Let’s use our home state Massachusetts as an example. Although the 4-year colleges in MA are some of the most expensive in the country (see this state-by-state comparison), Massachusetts has many ways to help both part time and full time students cover college expenses, with 0% interest loans, grants, tuition reduction, and sholarships. Also, an amazing program that covers Community College for free. for any resident aged 25 or older. This is a great way to get started on college and then continue to a 4 year degree program without building up debt.
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