Just as gaining acceptance to a great college requires advance planning, so too does paying for it. Students are awarded a college degree upon earning a set number of credits – typically reached by taking four or five courses a semester for four years.
One strategy to minimize the cost of college is to enter with credits. This is frequently attained by taking Advance Placement (AP) courses while in high school. These courses offer an end of year exam, graded on a scale of “1” to “5.” Most colleges will award college credit for each exam in which a student scored a “5” or “4” – and sometimes even a “3.” Students who successfully complete eight AP courses during their high school years can often start their college years as sophomores – reducing costs by 25%.
To lower the cost of attendance, students can apply to colleges one tier below the level to which they would likely be accepted. When applicants present GPA and SAT scores higher than the average, colleges often offer impressive scholarship awards.
Students should consider attending a state school that is within commuting distance of home. New Jersey has more than a dozen four-year colleges and universities throughout the state, ranging from Ramapo College and Montclair State in the north, to Rutgers (Newark and New Brunswick), New Jersey Institute of Technology, and The College of New Jersey (TCNJ) in central Jersey, to Rowan, Rutgers – Camden, and Stockton in the south. At the majority of these state schools that offer on campus housing, the cost for room and board (typically about $15,000) nearly equals the cost of tuition (averaging about $17,000). By commuting from home, students can greatly reduce their expenses without impacting the quality of their education.
Students should apply for all scholarships for which they are eligible. A great place to start is with one’s guidance counselor who will have applications for all local scholarships. Then, students should reach out to organizations with which they are affiliated: 4-H, Scouts, religious organizations, etc. Finally, students should search for national scholarships on the “Scholly” app and websites such as Discover.com which offers an online scholarship search database with four million scholarships that are collectively worth over $22 billion dollars.
To cover any remaining costs, and to aid with living expenses, students should seek a part-time job with a company that offers tuition reimbursement to student employees. Both McDonald’s and Chipotle offer $5,250 per year and have locations throughout the state.
To qualify for federal need-based aid, students should remind their parents to file a FAFSA during their senior year of high school, as well as a CSS Profile if required by any of the colleges to which they are applying.
Utilizing these tools will help students avoid joining the ranks of 44 million borrowers who collectively owe $1.75 trillion in education debt!
Susan Alaimo is the founder & director of Collegebound Review, offering PSAT/SAT® preparation & private college advising by Ivy League educated instructors. Visit CollegeboundReview.com or call 908-369-5362.
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