Going To College - Ways To Save Money

     No matter how hard you shop around for an affordable college education, there is no escaping the fact that it is expensive. You have to expect substantial financial sacrifices to send your kid to college, and that is the plain truth. If you have exhausted your financial aide options and before you take on that third job, though, you and your child should consider measures that can lower college costs. Some of these ideas are not exactly traditional, but they just might pave your way to financial sanity. If you can calculate how much you saved and are able to save that too, perhaps you can give that to your kid for their first home purchase when they graduate.

     1. Graduate in three years. Many colleges offer accelerated programs that allow a student to graduate in three years, rather than four or five. This would save you at least a year's worth of tuition and related expenses -- and considering how rapidly tuitions are rising, it would be saving you the most expensive year. For more ambitious students, it is worth noting that some colleges offer programs that combine an undergraduate/graduate degree. The drawback with this plan, of course, is that the student will have to take on a heavier course load each semester and may have to skip out on summer breaks (not to mention a lot of the fun of a traditional college experience).

     2. Earn college credit while in high school. Advanced Placement (AP) courses or special academic exams could allow your student to earn college credits while still in high school. This would mean fewer required classes in college, saving you money.

     3. Enroll in a community college first. One great way to cut tuition costs down is to enroll in a local community college for a couple of years. Expenses are generally substantially less here than at four-year institutions. After two years, you can transfer to a four-year institution. The diploma will be from the four-year institution, but your savings account will be a bit more robust. Before choosing this path, though, make sure that any credits earned at the community college will be fully transferable.