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5 Tips for Reducing College Costs

September 25, 2015

Here’s a great idea

Nine in ten parents believe that college is a worthwhile investment. While this statistic from Sallie Mae’s How America Saves for College 2015 report shows that the value placed on higher education is nearly universal, a staggering 84% of parents are also willing to stretch themselves financially in order to make college possible for their children.

In other words

The increasing costs of higher education are a part of our current reality, but breaking the bank doesn’t have to be. Making smart financial decisions from the start, and turning good savings behaviors into long-lasting habits can be the ticket to a fruitful and (hopefully) debt free future – for students and parents alike.

How this applies to you

5 Tips for Reducing College Costs

  1. Start Saving as Soon as Possible –putting away small amounts of savings will build up over time
  2. Do Your Research –Find out what credentials are required in your child’s chosen field major’s industry down the road and consider the options are for getting the most bang for your buck.
  3. Save on Room & Board – Sometimes there really is no place like home. It can save thousands of dollars.
  4. Working While In School – Working part-time can help pay for anything from tuition to books, transportation to school supplies. Every little bit helps.
  5. Know the Fine Print – Be mindful of any debt that you or your student takes on. Scrutinize repayment terms.

To find out more

Learn more about saving for college and pledge to save at AmericaSaves.org.

Find the latest research-based information for successful money management at www.uaex.edu

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