Five NEW Ways to Afford College

Here are some simple ways that thinking creatively can save you thousands of dollars and attend the college of your choice.

1. Don't assume anything!

College does not have to cost the staggering amount that many of us fear it will.

Everyone, it seems is going to tell you that college is SO expensive and if you didn't get a 4.0 and 1600 SAT, you are out of luck when it comes to scholarships and being able to attend the university of you choice. THEY ARE WRONG. The majority of scholarships are based not on academic achievement or athletic prowess, but on financial need. When people tell you that you're not poor enough to get scholarships, they are also wrong (see tip 4).

2. Affordable Out of State Tuition

Look into programs that offer regional tuition waivers. the vast majority of states are involved in these programs. The main three are Western Interstate Commission for Higher Education (WICHE), New England Regional Student Program (RSP), and Southern Regional Education Board (SREB). These programs offer students who live in the region instate tuition (for WICHE it is 150% of instate cost) at a number of colleges and universities within the region. Often this means you can go to a school out of state for less than instate, and sometimes even less than local community college. These programs are also often non-competitive, meaning all you have to do is get into the school and you are automatically granted the waiver.

3. Don't Forget to Ask

First, of course fill out the FAFSA.

Then, when you get your acceptance and financial aid award letters, do not be afraid to CALL THE SCHOOL and request an adjustment. I have seen this work at both public and private institutions and the undergraduate and graduate levels. There is more money, but they won't know that you need it until you ask. These schools accepted you. They want you to go there. They will work with you to make that possible.

4. Do a little Research of the School's Financial Aid Policies

When initially looking for schools check out there "percentage of need met" statistics on collegeboard.com or review.com. When you fill out the FAFSA it calculates your expected family contribution (EFC), basically how much you seem to be able to afford (granted this isn't always what you'd like to pay, but what is?). Colleges then offer you financial aid packages based on this amount. That is not to say that they offer you the entire difference between the cost and your EFC--that is where the percentage of need met comes in. A college that meets 76% of need is likely to offer you 76% of the difference. The reason that you want to check this out is that many school meet 100% of need. You just have to find them.

5. Take a year (or two) off and do Americorps.

For one year of full time service--they will pay you, house you (or give you money for housing), give you health insurance, potentially teach you a skill or at least give you valuable job experience, and best of all, at the end of it they will five you nearly $5,000 for college (they will even give it to you twice if you complete two years). Plus, you can do it in your hometown or pretty much anywhere else in the US.

Unlike many scholarships and GI Bill sums, this money is not counted on your EFC, so it's like a free stash of money for college and can even be used on college related expenses such as books.

The final benefit is that colleges love it. A completed Americorps internship will likely make you more attractive to colleges, which means a better chance of getting admission and maybe even some merit-based financial aid.