Don’t Do These 4 Things And You Could Save $10,000 A Year At College

 I was aware when I started my freshman year in 2014 that the commitment my family and I were making was substantial. According to the US Office of Retirement Policy, someone with a college degree will make far more over their lifetime than someone with only a high school education. Men make $900,000 more than women, and the numbers show men earn $630,000 more. But when you have that financial edge, there is a catch.

The Federal Reserve recently reported that total student loan debt in the United States is $1.53 trillion. Extra than 40% of college students who have student loans are interested in getting out of school if they took on more debt.

I saved around $10,000 each year by using four money-saving methods. That is the approximate cost of in-state tuition for a semester at my school, the University of Missouri. To be on the safe side, here are some things not to do:

1. It's never a good idea to live on campus.

Many students have said that living in a dorm is an integral component of a first-year student's educational experience. Additionally, while it is interesting, it may also be costly. While living on campus at my institution, a student pays $10,000 per year in tuition. My rent was $400 per month, and I saved $6,000 per year since I lived in the university dorms and didn't pay rent.

Moving to a cheaper apartment that has a better cost of living is always worthwhile, even if you're attending school in a location where rent is more costly than it is in Missouri. Lodging contracts almost all include dining plans, so it's easier to save money by making your own meals.

save $10,000 a year at college

2. Use the dining hall as an extra source of food

When you are no longer on college, and can cook your own food, prepare your own meals instead than purchasing prepared food on school.

Most of the meals on campus are either lunch for $10 or a full week of lunches for $50. As a result, I saved $30 a week without needing to spend time in the mornings preparing my lunch. That's around $1,000 every year for the school.

3. Instead, consider secondhand books.

In the beginning of each semester, I would go to the bookstore on campus to find out what books I required. Staggering to discover the cost estimate for the bookshop was much higher than my rent, it was one of the many things that empty my wallet quickly.

A majority of college students spend approximately $1,200 on books each year, according to the College Board. No, you don't have to.

A lot of students currently use sites like Chegg and Amazon to rent textbooks, but it's highly likely that the textbooks you need are accessible to borrow. I regularly discovered copies in my university library or neighborhood library – presumably donated by the students who had paid sticker price.

To ensure you have access to the information you need, consider looking in WorldCat, which is a network that connects libraries around the country. You should always check whether a piece of material is accessible as an eBook. There is a chance that PDF versions will be accessible, especially for literary classes, but only for public domain textbooks. Check to see whether the book's copyright information or a source like Project Gutenberg says the book is available.

Find out which friends are attending the class and take use of your network. While you are enrolled in the same semester, you may be able to buy a friend's textbook at a discount or exchange books.

I used these techniques, and my textbooks are $700 cheaper a year.

4. Above all, don't go Greek

My school's average fraternity and sorority membership dues were $2,095 per year, which included a new member charge of $2 with additional yearly dues ranging from $2,569 to $2,699. In other terms, I was disappointed in the amount I had budgeted.

Instead of hurrying, I scoured the school for on-campus organizations and interests to become involved with others. Many, if not all, photography clubs, intramural sports teams, and volunteer groups provide their memberships and activities for free or have low fees.

I estimate that by joining in free university groups, I have saved around $2,000 each year. Yes, I was paid to work for the newspaper, and I used the money I earned to help pay for my tuition.

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