With a little research and prior planning, you can identify many ways to cut costs while you are in school.
Consider living at home
Consider living at home and attending a community college for the first two years and then transferring to a four-year institution. Low tuition cost, open admissions, convenient locations, and a wide range of courses make community colleges readily accessible to everyone. If you attend a four-year school that is within commuting distance, consider living at home to save money.
Compare housing options
If you plan to live away from home, compare the cost of living in a dorm with that of sharing an apartment. The apartment cost will often be less than the dorm. See if private cooperative housing is available. Co-ops require you to do a certain amount of work—washing dishes, cooking, cleaning, etc., but the cost can be half as much as living in campus dorms.
If you live on campus, take advantage of special payment plans for room and board. Although many schools require room and board to be paid prior to each semester, most of those schools now offer deferred payment plans that will allow you to pay on a monthly basis.
Employment
The majority of students work part-time while they are in college. The average student can work up to 20 hours per week without negatively affecting his or her schoolwork. If you can find a job that pays more than minimum wage, you can expect to earn around $200 a month. Some students earn extra money by working in sales, waiting tables, life guarding, bartending, painting, substitute teaching, or tutoring. There is the possibility of finding a job on campus, such as working in the student union, bookstore, gym, cafeteria or library. There are also federal and state work-study programs in colleges across the nation. Students in these programs work about 10 hours a week and earn between $6 and $7 an hour.
Summer opportunities
Make the most of summer opportunities to work and save money for the next year’s expenses or to take transferable summer courses at a community college for a fraction of the cost of tuition at your college/university. If you are interested in this last option, be sure to check with your school to verify that the credits will transfer.
Buy used textbooks
Textbooks are one of the major expenses you will face at college. You can save up to 50 percent on books if you buy them used. The key is to start early. As soon as you register for your classes, make a list of the books you will need. Write down the title, author, edition, year of publication and cost if new. Start your search by asking friends or other students who took the same classes. If they sell their book to you for half-price, that is more than they would get by selling it back to the bookstore and less than you would pay if you bought the used book at the college/university bookstore. If you cannot find used books from friends, your next best buy would be at the college/university bookstore or on the Internet from a number of online bookstores that stock used textbooks. If you choose to buy online, ask if they will take the book back if it is in poor condition, if they guarantee a delivery date, and if they will buy the book back at the end of the semester and at what percent of your original cost.
Leave your car at home if you can
Many colleges do not allow you to have a car at school during your freshman year. Before you decide to take a car to school, when authorized, decide if the cost of parking, maintenance, and insurance make having a car at school cost effective.
Try not to eat out very often
Try not to eat out, or at least limit the number of times you eat out each month. If you live in the dorm, consider the campus meal plans available. If you live in an apartment, you will save money if you shop for groceries and make your own meals.
Check out free entertainment and recreation on campus
Limit what you spend on entertainment and recreation. Campuses offer many free forms of entertainment such as sporting events, movies, plays, concerts, and promotional fairs. For recreation, take advantage of the school gym for activities like basketball, racquetball, lifting weights, and aerobic conditioning.
Save money on phone calls
You can save a considerable amount of money by making long distance calls during off-hours, using prepaid calling cards, or investing in a cell phone with a long distance plan included.