Josh Elledge - Chief Executive Angel
Have a new freshman starting college this fall? Higher education can carry a large price tag. Let's review where you might find some more cash or reduce upcoming expenses between now and then.
Scholarships: You’ll have to work fast, but it is still possible to secure some scholarships. Check into local civic groups, churches, unions, and other organizations, as well as local, state, and federal government offers and grants. If you need help, contact your teen’s high school or college of choice.
If you have a teen that didn’t get the top grades, or isn’t a star athlete, you may be discouraged, believing that scholarships aren’t out there for them. However, there are scholarships that weigh things like community involvement or skills in arts and sciences much more heavily than academics. Check with leaders and organizations that revolve around your student’s interests.
Don’t forget scholarships for the semesters past freshman year. They do exist. But as college progresses it’s easy to miss scholarship application deadlines. Save thousands by making a list and a plan to apply as soon as application windows open up in subsequent years.
Working: Get into a work-study program and review available jobs early for the best selection. Having a job is a reliable method for making money, rather than being out spending it.
If your college student already has a job, and plans to continue working there, discuss a potential schedule and responsibilities shift with their boss now for an easier transition later.
If a specific talent or aptitude is your student’s strong suit, check into paid tutoring jobs. Some colleges offer assistance programs for other students, with paid tutors, or you can also start your own small tutoring service. Giving lessons in anything from musical instruments to math and science will yield income and a chance to keep their own skills sharp.
Books and a mock class schedule: To get an idea of book and possible class costs, inquire about receiving a course description guide early. If you cannot get the fall guide yet, request a previous one. Although the information will not be exact, it is still an invaluable resource to mock up costs and get an idea of schedules. Once you’ve pinpointed a few classes similar to what your teen is likely to take, request the booklist, and information about any additional costs, such as lab fees. With this information, scout out used book retailers, including online resellers. Make a short list of the places that seem to have the best prices. Doing this ahead of time not only saves money when it’s time to buy books, it helps with visualization of a daily schedule for classes, work, study and free times.
Use career services: Take time to meet with a counselor from career services to ensure your student is taking classes appropriate for them. You could save hundreds – and a lot of college time – by avoiding classes that are unnecessary or won’t transfer if needed. Undeclared students should focus on basics needed for all career paths and make certain any acquired credits will transfer.
Food, fun, and living: Inquire as to whether or not the college’s dining plan is mandatory. Some colleges allow students to completely opt out of, or to purchase only a minimum dining plan. Save hundreds of dollars a year by teaching your college student to shop wisely and prepare their own meals and snacks.
Over the summer, work with your student on using coupons, budgeting, and living on their own. If they will be moving to an unfamiliar town, make some visits to discover the most economical shopping, gas stations, and restaurants. Find out where coupons for groceries and local businesses may be obtained and sign up for loyalty programs for gas and groceries.
Consider a local college instead, especially if undecided in a career path. Taking the basics for the first year saves thousands and gives time to decide. Just be sure the credits will transfer later.
Transportation: Figure out if your college student will need a car, a bike, or will be able to walk most places. Depending upon the size of the college campus, a car might be a necessary expense, but gas, parking stickers, and auto maintenance will add up. Whenever possible, plan to car pool with friends – whether to go to work or for visits home.
