College may be a big expense, but there are ways you can reduce what it costs you. For example, some colleges will let you graduate early if you have taken enough college credits. And while finishing college a semester or two early probably won’t lower your cost of tuition, it can definitely save you money on room and dining plan costs.
Think about it. When one semester of a dorm room and a meal plan can cost between $5,000 and $6,000, that’s a sizable amount of savings. Plus, graduating early can get you into the workforce sooner, where you can start earning money for yourself instead of paying money to a college.
Here are some “early graduation” ideas you may be able to put into action, from the time you’re in high school until you’re well into your time in college.
Ways to lower your college costs while you’re still in high school
Take college-level courses:
You can start taking college-level courses while you’re still in high school, or in the summer before you start college. This is called “dual enrollment.” These types of courses are generally given at a community college. One very important note: Make sure beforehand that the courses you take will be accepted by the college or colleges where you’ll be applying.
Take AP courses:
If you get good grades, some colleges may give you credit. Again, make sure the college you’re planning to attend will accept these courses for credit.
Take the AP or CLEP exam:
This could be a good choice if you have a particular talent, or serious interest, and want to study a subject on your own. Many colleges (but not all) will give you course credit if you do well on these exams.
Ways to lower your college costs during your college years
Take summer courses
Many colleges offer courses year-round, so why not take a course or two in the summers before your sophomore, junior and senior years. You might find you save more money taking summer courses and graduating early than you’d earn taking a job.
Transfer credits from community college
Going to a community college for a full year or two can be a very cost-effective way to get an education. But remember, you have to take courses that you can be sure will be accepted by a school you are planning to transfer to. Find out more here.
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