5 Ways You Can Save Money While in College

College is without a doubt a wise investment in your future, but it certainly doesn’t come cheap. Higher education can be very financially draining, especially thanks to the rising costs of tuition and the increased reluctance of banks to provide affordable student loans.

However, there are some easy ways you can cut back on your spending and avoid getting into significant debt. Here are 5 quick and simple ways for saving money while attending college:

1. Study Part Time
Studying part time is a great way to pay your way through college without getting into astronomical debt. You could enroll in a part-time law program for example, and avoid getting into too steep a debt by working full-time to continue collecting income while attending school. Although it will take you a lot longer to complete your degree, the financial rewards can easily outweigh this drawback.

2. Explore Financial Aid
Most colleges offer a plethora of financial aid and scholarship options. Make sure you explore all benefits that could be available to you and get your questions answered by talking to a financial aid representative at your college. Don’t let any of these opportunities pass you by and apply for any benefits and scholarships that you think you are likely eligible for.

3. Study Local
You may have dreamed of studying in a cosmopolitan city far from home, but chances are this just isn’t viable on your budget. If you study within your home state you won’t have to pay out of state fees and you can save money on accommodation by living with your parents or other family members. What’s more, you can save big bucks by attending a local junior college for your first two years of school as junior colleges generally offer transferrable courses at very low tuition rates.

4. Watch Your Credit
Most college students have at least one credit card, but you will want to be careful how much you put on it. Credit cards can easily feel like free money, but don’t forget that you will eventually have to pay it back and often with interest. By all means have a credit card, but only use it for small items or emergencies, and try and always pay off your minimum amount owed each month. The last thing you want is to graduate with both student loan and credit card debt.

5. Be Thrifty
In this economy, there really is no shame about being thrifty. Save big bucks while in college by clipping coupons, scouring online for the best deals and always take advantage of any student discounts that may be available to you. Another great tip is to buy your textbooks secondhand online or even rent them per semester.

As you can see, there are many easy solutions for saving lots of money while in college. Although graduating completely debt free is impossible for many, following the above suggestions should leave you able to substantially reduce your overall debt come graduation day. Good luck!

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