5 Simple Tips for Going Back to School on a Budget
Going back to school is an exciting time because you’re going to learn new things, meet new people, and get a fresh start. But it can also be stressful if you’re trying to figure out how to pay for everything. Here are some tips on how to do just that as follows:
1. Look for Grants, Scholarships, and Student Loans
Scholarships are a great way to get some extra help with tuition. Although, they can be hard to find when you don’t know where to look or what criteria are required. Luckily, lots of resources online can help with this process.
If you’re a fresh graduate or someone who has been out of school for a while, you can consider student loans. You can get through college without paying upfront by borrowing money from the government or private lenders. You’ll reimburse the debt when you start earning later on in life.
2. Use Student Discounts
Many companies offer discounts for students. Look for them online or in-store such as movie tickets (Studentbeans), food delivery (Grubhub), utility bills (Duke Energy), and even electronics (Apple). Even Starbucks requires your student ID card to provide 10 percent off on all purchases and 20 percent off on iced drinks.
3. Consider Community College
When choosing how to go back to school, consider the option of attending community college. They are much less expensive than four-year institutions while offering the same curriculum and degree programs. Plus, if you decide not to continue your education at the end of your community college experience, you won’t have wasted your investment in tuition fees.
4. Reduce Expenses
Another way to return to school on a budget is by renting textbooks. If you decide on a traditional four-year school, consider renting the books instead of purchasing them. While it may seem like a good idea, buying new books is often an unnecessary expense that can add up over time. Also, most books are only used for one semester or one year.
You can minimize or limit expenses on new clothes, eat-outs, or electronics unless they’re necessary for your schooling. You could avoid dining out every night and instead cook at the dormitory. This helps cut costs while ensuring you meet your needs.
Moving in with friends or family can save on rent or other expenses like utilities and groceries. You’ll also have someone there with whom to study and talk about coursework or other topics related to life outside the classroom too.
5. Consider Part-Time Work
Lastly, consider working part-time while going to school. This can help you earn money while you’re in class and help offset some of your expenses. It can also give you extra experience that will make you more marketable after graduation or even allow you to switch careers entirely.
Bottomline
Returning to school doesn’t have to be scary, stressful, or expensive. It’s not always fun to live on a budget, but starting your finances with a positive attitude is best. By planning thoughtfully, you can create an affordable college experience to help you get the most out of your degree. Also, it can boost your career prospects in the future.