Keep Your College Costs Under Control like I Did

It seems that every time we turn around these days, we're seeing more and more about the costs of an education. From college debt to tuition hikes, whether it's on the news or in the papers, the debate about college costs and its effects upon students continues to rage.

While there is no clear-cut answer to everyone's college financial situation, there may be certain techniques that can be employed to combat the costs of an education. Here are a few of the ways that I managed to keep my college costs under control.

Pre-planning

Beyond the typical part-time job and saving your pennies aspects of pre-college planning, there are other things to consider when looking for ways to keep your costs under control. Knowing a school's pricing for things like tuition, room and board, technology fees, and similar expenses can be critical to keeping costs under control. Knowing these set expenses before you arrive can allow for the creation of a budget and let you know how much wiggle room there is between fixed and miscellaneous expenses.

In my day (the mid-90s), it was contacting the bursar's office to obtain such information, but now it's often as simple as getting on the university's website and reviewing their fee schedules.

By planning well in advance for the school I would be attending, we were also able to correlate my mother's career move with my education. Since she was looking to change jobs at the time and get back to the Midwest as well, she applied for positions in the state in which I was attending school. While I understand that this certainly wouldn't be an option for everyone, it worked well for me, since after one semester it meant that I received in-state tuition, cutting my tuition by more than half.

Tracking Expenses

During my time at school, I had to keep track of all my expenses for my parents, but I found it was a crucial element in helping me keep my costs down. By knowing how much I was spending at all times, it helped keep things in perspective.

I think costs often spiral out of control for many students because they just aren't aware of how much all their combined expenses -- room, board, tuition, fees, books, clothing, transportation, health, entertainment, etc. -- are actually costing. By counting the dollars as they go floating out, a student is forced to recognize just how much they are spending and upon what. And if you are paying for a portion or all of your education, it can bring the reality of schooling costs crashing home and force you to make some tough decisions as to how you spend your money as well as how you may be spending your parents' money.

Working Part-time

In many situations, there is no reason why a student can't work at least part of the year. While for some, full-time employment could interfere with the requirements of a quality education, part-time work can be a great way to supplement finances while at school.

I was able to work at the university golf course throughout the summer as well as portions of the school year and also work as our fraternity's house manager, which while unpaid, did result in free rent during the summer months when I remained at school to work.

Summer School

After my freshman year (before I lived at my fraternity), I spent one summer back home. During this time I took three transferrable courses at a local university. Not only were such courses cheaper, but they were easier as well, and saved me an extra semester away at school and probably thousands of dollars in extra expenses in the process.

Cost Sharing

During my senior year, I lived in an off-campus apartment with a roommate. This situation enabled me to share costs of things like utilities, rent and food. If you can find a trustworthy roommate with which to share living expenses while away at school, it can be a great money saving experience -- especially if that roommate one day becomes your wife like mine did!

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Disclaimer:

The author is not a licensed financial professional. The information provided in this article is for informational purposes only and does not constitute legal or financial advice. For financial advice, readers should consult a licensed financial advisor. Any action taken by the reader due to the information provided in this article is solely at the reader's discretion.