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Believe it or not, colleges want students. In fact, some of the money they receive depends on the number of students they have enrolled. Even schools that provide only need-based aid can have incredibly different offers. If you’re fortunate enough to have more than one financial aid package on the table, you may be able to negotiate a better deal at your child’s top choice.
6. Encourage your child to sign up for a service commitment
These options aren't for everyone, but if your child signs up with the Peace Corps, the National Health Services Corps, or ROTC, he/she would get money for college in return for their service. As an example of this, if your child were to sign up for the Peace Corps, he or she would earn $4,665 a year or $9,330 for two years of service.
7. Study abroad
Would your child be interested in going to school abroad, like to St. Andrews in Great Britain, where Prince William and his wife went to school? The tuition at St. Andrews is just $21,650 a year versus an average cost of $24,930 to go to an out-of-state university in America. College in Canada is even cheaper – McGill University charges just $17,400 a year.
8. Live at home
Most universities and community colleges require almost the same courses during the first two years. If your child could adjust to the idea of living at home and going to a community college for their first two years, this would eliminate the costs of room and board, and the tuition would be less. Then, after two years, he/she could transfer to a four-year school and get their degree from it.
We know that paying for college could be a real burden – both financially and emotionally. But if you can use some or all of the eight tips in this article, you should find it far easier to fund your child’s education and to lighten that burden. It is better than forcing them to borrow a lot of loans just to pay for college.