Dealing with Rising Tuition Fees

I just wrote a post about picking the college you want to go to. But with college, usually, come debt. So here are some ways to help manage the extent your debt.

1)      Start saving early. I know it’s hard, but don’t spend all of your money. You need to save a little for the future, whether it’s to help with tuition, or for some spending money you will probably need it sometime in the future. I also wrote an earlier post about finding a job while in high school, and I would suggest getting one even if it is only a couple of hours a week it will help.

2)      There are tons of scholarships out there that you could apply for. I know they can take a long time and not be for a lot of money but every little bit helps in my opinion. Even if it’s only for 100 dollars its 100 less that you have to spend. Plus if you apply for more than one, they can really add up.

3)      Like stated in a previous post you don’t have to go to the most expensive school to get the best education for you. Try looking at your local state school, it could be more prestigious than you realize and typically one third of the cost of an elite school. To be successful is really all about your personality and how hard you work at your job. Plus, if you decide to go to a less expensive school you won’t be in as much debt and it will take you significantly less time to pay off your student loans. Which leads into my next point,

4)      Student loans. For most, they are inevitable if you want to even attend college. I mean who has ten thousand dollars just lying around?  And that’s on the cheaper end of college possibilities.  Some can cost upwards of fifty grand per year to attend, and if you get a four year degree that’s two hundred grand alone. That’s literally a house, like a decent house.  Unless you’re really rich and your parents are willing to pay that for you, you might have to look at student loans. They are an unfortunate sacrifice to going to a decent college, and can take years to pay off. You really want to minimize how much you borrow so you can start spending your money on stuff you want as soon as possible. Hence, the need for scholarships and jobs.

Helpful Tip: Control your spending, and I would suggest, if you can, putting at least fifty percent of your paycheck into savings. You’d be amazed at how fast that money grows. Good luck.

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