Save Money on College by Accelerating Your Degree November 3, 2009
Ian Welham on how accelerating your degree can save you money on college.
With the cost of college continuing to rise (up 6.5% at public colleges and universities, up 4.4% at private schools according to the College Board) students are trying to find creative ways to cut their college costs. Accelerating your degree is one of the most effective ways. Although it will be a lot of hard work, the money you can save may be worth the extra effort in the end.
There was a recent article in Newsweek magazine by U.S. Senator and former Education Secretary Lamar Alexander, discussing the benefits of completing college in three years instead of four, including saving families 25% off the college bill.
You can begin preparing for acceleration in high school. Start by taking as many AP (advanced placement) classes as possible. By taking these classes and scoring a 3 on the respective tests, many universities will accept the credits. This means that you are actually earning college credits while attending high school, which means three less credits you will need to pay for to earn your college degree.
Another idea to explore while in high school is duel enrollment. This means that you can take college courses at your community college while attending high school. If you decide on exploring this option, check with your high school because you maybe able to take some courses at a discount. But don’t be alarmed if you need to pay full price ; it will still save you money and time at a four-year college and put you on an early graduation track.
Once in college, take a full course load. Taking a consistent 15-18 college credits per semester will help you graduate on time. Yes, it is a lot of work, but this is college, and college is expensive!
Next, take advantage of alternative semesters. This means summer or winter session courses. Usually these courses are more intense because there is a shorter amount of time to complete the coursework, but again it will help keep you on track to graduate in under four years.
Lastly, make sure that you receive credit for any internship hours you accrue. Many schools have internship programs and although an internship that gives you a small financial stipend sounds great, the credit is much more valuable. This way you have an additional three or four credits toward your degree and you don’t have to spend more time and money taking an additional class to accumulate the credits.
Using these tips you will save both time and money pursing your college education. That way when you graduate early you will feel a great sense of accomplishment that you put in the hard work to accomplish your goal, and that work ethic will continue throughout your working career! How smart of you!
