Scholarships, grants, and work study are some of the most commonly known ways to reduce the amount of student loans one will need to borrow, and though these are great, there are other (lesser known) options as well. Any way in which you can cut the costs of your student loans, is worth looking into. To get you started here are 3 Ways To Cut Student Loan Costs:
3 Ways To Cut Student Loan Costs
1. Consider Transferring
Attending a community college for the first few years and then transferring to a 4 year college or university, is perhaps one of the easiest ways to cut your college costs. In many cases, every credit earned at a lower-cost community college saves you hundreds of dollars in tuition. Also, many community colleges have a “guaranteed transfer” program or agreement with local state universities, ensuring that students who maintain a certain GPA at the community college is guaranteed to be accepted at the 4 year university or college.
2. Lock in College Tuition…
Guaranteed college tuition programs? Yes, some colleges and universities do offer students the opportunity to lock into their college tuition rate for all 4 years, allowing you to never worry about sky-rocketing tuition costs. Some colleges and/or universities offer guaranteed-tuition programs free of charge, while others charge fees, so you will need to do some research.
3. Tuition-Free College
No this is not a joke, there are in fact such things as tuition free colleges, they are obviously few and far between, but they do exist and may be just the kind of school you’re looking for (talk about cutting your student loan costs). How tuition free colleges typically work, is they provide you with education in exchange for working part-time on campus. Tuition free colleges may offer a reduced selection of majors, but if your desired field of study is offered at a tuition free college, you may have just hit the jackpot! You are going to have to do a bit of digging to find tuition free colleges (or colleges that offer work-study), but here are a few to get you started: Alice Lloyd College, College of the Ozarks, and The Cooper Union in New York. In addition, please check out our scholarships, grants, and loan alternative sections for more student loan costs cutting options.