Five Ways to Save Money in College
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So you want to go to college or you're already there but you want to be smart on how to spend your money. Well, this is the article for you! We have seen a few tricks over the years that will help keep money in your pocket. One of the most expensive costs in college is housing.
1. Our first tip is to get innovative with living expenses while in school. We visited Texas A&M University in College Station, TX and what we found was that students were buying houses from graduating students and passing on the savings as they go. Instead of paying insane amounts to rent an apartment or even a dorm, you can buy a house and just sell it when you are done in 4 years. Housing economies near college campuses tend to be different because of the constant need for incoming students. It is possible you could buy a house and get most of your money back in 4 years when you sell it.
2. Public Service Loan Forgiveness. There are programs out there that save you money by reducing student loan debt after school is over. See our article on Jobs That Pay for College. PSLF pays off your federal direct loans after 10 years of working in the public sector such as in a government job or education job. Some private employers have education grants as well. Make sure to check with your current employer.
3. Try to live on a bus route and ditch the car. It is usually possible to find a place to live that is on a bus route to the school or close enough that you could walk. Automobiles are expensive and probably not necessary near most college campuses. Public transportation is more common in larger towns and cities. Check out our articles about the great college cities and towns.
4. Don’t buy new textbooks. Consider renting textbooks from your university or Knetbooks.com. Used books are also a great option and may be available at your university, an off brand book reseller near the main campus bookstore, or even at Amazon.
5. Tutor high school students. We have seen that the parents of high school students often seek out tutors from local colleges to help their kids make the best of homework. Contact some of the private and public high schools in the area and see if you can get the word out about your tutoring services. This also works for sports. If you play sports in college it is very possible you could be hired to coach local sports leagues or give private lessons through the local parks and recreation department.
Breaking it all down
Your goal should be to both save money and make money using tactics that have helped many college students before you. Think outside the box and don’t just follow what the school suggests for living arrangements and other expenses.
If you are looking for more college tips, visit us at our home page here.
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