Cost-Saving Strategies
Video Series 2
Part 1 of 6
In the first video, we discussed why careful planning and research are essential to helping you make decisions about your education.
As part of that research, you will need to weigh the costs of a higher education and consider if it will bring you the return you want on your investment. You will also need to consider how you will pay for your education.
*** Play the video and then take the knowledge review. ***
Part 2 of 6
If possible, live at home while you get your education. Room and board or rent significantly increase your education costs. If you live on campus, the cost of your education can nearly double. Many students want the experience of living on campus, but the more debt you take on, the longer you will need to delay your goals.
Part 3 of 6
No matter how many cost-saving measures you take or strategies you use, your education will still be a financial investment. Because of the costs associated with higher education, most students need to seek some financial assistance. This process begins by filling out the Free Application for Federal Student Aid form, more commonly known as the FAFSA.
Part 4 of 6
In addition to your FAFSA, you will need to complete an application for each college you are interested in attending. You may need to pay an application fee, which can range anywhere from around $25 all the way up to $90, the costs can quickly add up.
You can ask for an application fee waiver, should the university or college offer one.
Part 5 of 6
The college or university where you attend may also offer you aid through the work-study program. This means you must work at the college or university in the positions they have available to get this aid.
Grants are considered gifts and do not have to be repaid. Colleges and universities raise funds for scholarships to help cover the cost of the education.
Part 6 of 6
Once you know what assistance is available to you, it’s time to work with your financial aid advisor to zero in what you need. You will need to pay for tuition, books, and room and board, if you are opting to live on campus. You will also need to account for any fees, special equipment, or tools necessary for your coursework, too.