Pursuing a higher education is a great opportunity to not only help you reach your dream career but also enhance your personal development. However, the cost of higher education is not easily affordable for some people. Consider reducing some of your education expenses and implement some cost-reduction strategies will help you manage your budget while in school.
If you are planning to take 2 or 3-year diploma program, you may choose a community college. The cost of two or three-year diploma program at the community college is more affordable than undergraduate program. You can always transfer it to a university after you graduate. It is also important to take a program based on your interest and intuition so that you won’t regret later. You may need to start thinking about what college program is best for you while you are still in high school.
There are many positives you can get if you choose a college near home. You can get a lot of support from your family during stressful times, save money on transportation and housing. If you don’t find a program that you are looking for at a college near you, try to find another college with less cost. Schoolfinder.com is a great site to find a perfect school for you.
Apply for scholarship, grants, or bursary to help you reduce your college cost or student loan debt. Make sure you apply early and ask the Financial Aid Office about the criteria and what type of scholarships that you are qualified for.
If your timetable allows you, you can manage to work part time while in school. Make sure you don’t sacrifice your study. If you can’t manage your time, don’t work while in school. You can always find a summer job when you are on summer break.
If it is not necessary, always buy used books or rent ones. You also sell your books to get extra cash after completing your semester.
Using public transportation is more affordable than driving a car. You may be eligible for a public transit tax credit if you ride public transportation.
Keep a receipt anytime you buy something for a school including tuition, books, public transport receipt. You may be eligible to get education tax credit when you file an income tax return.
A student line of credit has higher interest than federal or provincial student loan so avoid if you can. You don’t need to have a lot of student loan debt upon graduation, do you?
Many companies offer student deals on some products such as Softwares, subscription products or any products that you need for school. You can also get a checking account with no monthly fee at some Bank Institutions while you are in school. You may need to present your student ID or your timetable to qualify.
Depending on your financial situation, it might be helpful to take a semester off to work full-time and save up more money for your college education.