According to The College Board, adults with a college education earn more money and enjoy an overall better quality of life. They’re also more likely to receive health insurance, live healthier lives, and become more active citizens.
College tuition and fees have skyrocketed over the last 20 years. Today, it costs an average of just under $70,000 for a 4-year public in-state college degree and $160,000 for a 4-year private college education. In 2020, the projected total cost of a 4-year in-state college education is $113,314, while the cost of a 4-year private college education is projected to be $259,718.1
Advanced Placement and College Level Examination Program exams allow students who pass to receive college credit. The cost for these exams is generally a fraction of the cost of taking the equivalent credits in college and may enable students to earn a degree in less time.
For students looking to attend state schools, community colleges offer an inexpensive starting point. They can complete core classes at a discount before transferring to the school they want to earn their undergraduate degree.
You can easily track progress and avoid temptation to spend on other things if you keep your student bank account separate.
You might be surprised at just how many small- and medium-sized awards are available. They aren’t always easy to find, but careful research can really pay off. Some companies are scams, though, charging a high fee for what they claim are tailored scholarship lists. Watch out for those.
Online Financial Aid Resources