Ways to Reduce College Costs

“You’re too smart for Community College.” A well meaning but misinformed teacher said that to our daughter. Sophia had a 4.5 GPA her senior year and chose to enroll in Community College. College costs have skyrocketed in the past few decades. 17 and 18 year olds are getting loans for tens of thousands of dollars that they don’t understand the terms of. Some end up in debilitating debt for decades. Debt that can leave them feeling overwhelmed before they even start their first job. We didn’t want that for our kid. We looked at what we could afford, not where she could get in. There was no ‘dream’ school. We didn’t set foot on a campus that was out of our budget. We knew we could cash flow two years of a California UC or state school. We encouraged her to take the Community College route, transfer to a state or UC and graduate debt free. Did you know that Community College is FREE in over 30 states? Shaving two years off the costs of a four year degree can save a student anywhere between $60,000-$170,000+. Sophia worked while living at home attending Sierra College. She’ll graduate debt free with tens of thousands in investments and savings. This took delayed gratification on her part, but it paid off. As a transfer student she was just accepted to: UC San Diego UC Davis UC Santa Barbara Cal Poly San Luis Obispo and waitlisted at UC Berkeley and UCLA She accepted admission to Cal Poly SLO. She’s setting herself up for a lifetime of success. Debt free after college, with a hefty savings and investment amount. What I wish the teacher who told her was too smart for Sierra knew, is that she is actually wise beyond her years. As graduation approaches, celebrate all kids. The ones going into trades, the military, entrepreneurship, Community College or straight to a university. There is no ‘right’ path. Only what’s best for your kid. Source: Amy Perkins AlwaysFeelHappy.com ___ #FinancialLiteracy #DebtFree #CalPolySLO

I had only 50% of money required to pay my college expenses in my bank. Here’s how I managed to pay the other 50. - Scholarships are crucial. I aggressively pursued every opportunity. The Fulbright Foreign Student Program was a lifesaver, providing up to $35,000 per year. I also applied for the Hubert Humphrey Fellowship Program. Pro tip: Don’t overlook smaller, niche scholarships. They often have less competition and can add up significantly. - Also I discovered soon after joining college that as an international student, I was allowed to work up to 20 hours per week during the academic year. So I started worked as a research assistant, earning around $20 per hour. Some of my friends found higher-paying gigs as peer tutors, making up to $40 per hour. - Next, I quickly learned to leverage my student status for savings. My friends helped me discover websites like StudentBeans, UNiDAYS, and StudentUniverse and they became my go-to resources for discounts on everything from textbooks to travel. - I also remember using apps like Mint to track every dollar. And as much as I missed ghar ka khana, cooking at home, finding free campus events, and prioritizing expenses became part of my daily routine. It wasn’t always easy, but it was necessary to avoid additional debt. The thing is that average student debt in the U.S. exceeds $30,000, and for international students, it can be MUCH higher. But with careful planning and resourcefulness, it became manageable. At one point I wasn’t even sure if I would be able to study in the US. But these few tricks helped me stay afloat. Of course it is a huge investment but the returns in terms of opportunity are endless. Now if you’re someone struggling to manage your finances, I’m happy to share more detailed insights. Comment down below and let’s connect. #Immigrant #scholarship #usascholarships

A bit out of the ordinary on my linkedin, but figured my network might be thinking about college for kids? Figured I would share my learnings and ask for help from my network! Like many parents, I’ve been diving deep into college options for my kids—one a junior in high school, the other in eighth grade. The cost of college is daunting (even with a 529, scholarships, etc), and I know many of you are facing the same questions: How do we make college more affordable while still giving our kids the best opportunities? As Head of Public Sector Sales at Canva, I work closely with educators, students, and institutions to improve learning experiences. Through my work—and as a parent myself—I’ve spent a lot of time researching the best ways to reduce college costs while ensuring my children get a strong education. Both my children have desires to go to a 4 year college (respect and appreciate trade school and other career paths). One path I keep coming back to is community college and transfer programs—specifically in Washington State. By earning an Associate of Arts (AA) degree at a community college first, students can significantly reduce the cost of a four-year degree and still graduate from a top university. Why consider this? ✅ Lower tuition costs – Community college tuition is a fraction of a four-year university’s tuition. ✅ Running Start – High school students in Washington State (Other states have similar programs) can take college classes for free, earning credits that transfer to universities. ✅ Seamless transfers – Many universities (both in and out of Washington) have agreements allowing students to transfer in as juniors. ✅ Smaller class sizes & flexibility – A great way to adjust to college life without the overwhelming costs. Finally, this approach isn’t for everyone. As noted above Trade schools and other career paths are also great options (fully respect 4 year college is not for everyone). The key is finding the right fit for your child! I suspect my own children take different paths, which is awesome! Would love to hear from other parents—Let’s share ideas! #CollegeSavings #RunningStart #ParentLife #EducationOptions

I know most of my followers are over 17, so I'm not trying to rub salt in the wound here, but maybe you know a high schooler who could benefit from seeing this?!‎‎ ‎‎ The difference between Nick and Nicole seems barely relevant. When they meet for a drink at 22 and exchange war stories about student loans, they both probably shrug their shoulders and think, "damn, that sounds like a lot of money". But look at the massive ripple effect it has down the line. Mitigating just $20K of student loans generates almost $400K more in investments at retirement, with the EXACT SAME payments and investments made. Here's some ideas on how to mitigate those loans:‎‎ ‎‎ • Go to a cheaper school. I've been in charge of hiring for a lot of my career, and I can vouch that outside of a very few name brand schools, hiring managers generally don't give a shit where you went to college. They care about your major. Your internships. Your work ethic. A valuable major from a cheap state school will get you WAY further than a useless degree from an expensive private school.‎‎ • Work. Research suggest that students who work get better grades. $20K over 4 years is $5K/year. That's $416/month. You could make that working ONE NIGHT PER WEEK as a server or bartender. Would you work one night per week for four years if it came with a $400K bonus down the road? I would. And I'm already rich.‎‎ • Hustle to find scholarships. ‎‎ • Find summer job that offers tuition reimbursement. ‎‎ • Become a resident advisor or teacher assistant position that offers discount tuition. ‎‎ • Do your pre reqs at a community college that will transfer to your school of choice.‎‎ • Google for more ideas that I haven't thought of here.‎‎ ‎‎ And by the way, I think it totally sucks that we saddle our teenagers with this massive burden. It's a messed up system. But that's the way it works for now, so work the system before it works you.‎‎ As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often.‎‎ ‎‎ -Jeremy‎‎