Here are the best ways to save money in college, and some money saving tips that you could use while getting your degree - enjoy! Add me on Instagram: GPStephan - Click “Show More” to see ad disclosure
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FIRST: CHOOSE YOUR SCHOOL VERY WISELY.
As we all know, every college is going to be a different experience, with a different focus…and a different cost. Just look at the numbers…the average price for a private, 4-year college is nearly 3.5x HIGHER than that of a 4-year in state school.
https://bigfuture.collegeboard.org/pay-for-college/college-costs/college-costs-faqs
But maybe, at this point you’re thinking…well, if I go to an Ivy League school and pay a little more money…THAT would make a difference, and THAT would be worth it….and if you think that way…well, statistically speaking….you’re wrong.
Two studies were completed in 1999 and again in 2011 which followed the academic pursuits and income of both Ivy League graduates, and non Ivy-League graduates…and their findings were rather surprising.
https://www.nber.org/papers/w7322.pdf
This finding suggests that it’s the individual attributes among the students that mattered the most, NOT the college they graduated from…and not from the “social networking capital” of those prestigious schools. So, no…the type of college you go to will not make a difference in how much money you end up making.
SECOND: ATTEND A 2 YEAR COMMUNITY COLLEGE
Price wise…the average annual cost of attending community college is just over $3300 per year…that’s pretty much 1/3rd the cost of attending a 4-year state school, and 1/10th the cost of attending a private university. That is a MASSIVE savings, right off the bat, for getting those first 2 years completed and out of the way.
THIRD: SPEND YOUR TIME - NOT YOUR MONEY
Here’s what I mean…as a college student, chances are, you don’t have an abundance of money…BUT, you do have your time to use, instead…and one could argue that’s the greatest capital of all.
FOURTH: LIVE OFF CAMPUS
It was found that from 2017-2018, students spent an average of $10,800 per year for room and board at public 4-year institutions, and that amount jumps to over $12,200 for private, 4 year colleges and universities.
https://thescholarshipsystem.com/blog-for-students-families/what-is-room-and-board-what-will-it-cost-you/
For those reasons, if you’re looking to cut down on these costs significantly…it might be worth it, first, to potentially live at home with your family a little longer. Or you could also look into living OFF CAMPUS, which could still be significantly cheaper than living in the dorms or on campus.
FIFTH: TEXBOOK COSTS
To start, the college board found that the average cost of textbooks from 2018-2019 was almost $1300…which, is insane.
First, try searching google for a free PDF of your book. All you need to do is type in [title of book] filetype:pdf and it should bring up any applicable search results for what you’re looking for.
Secondly, if you can’t find it there - try Amazon or Chegg. They’re both amazing resources where you can rent or purchase textbooks at a MUCH cheaper rate than what your college might charge.
SIXTH: CREDIT CARD REWARDS
This is essentially the practice in which you open up a credit card with a great sign up bonus, meet the minimum spending requirements, you get the points, and then you can repeat this with other credit cards, as well. And while you’re in college, this is generally the perfect time to do this, because the temporary hit to your credit score won’t really matter in the short term - and long term, you’ll be diversifying your credit history and further strengthening your score.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
*Some of the card links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This content does not include all credit card companies, or all available credit card offers. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
The YouTube Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://bit.ly/2STxofv $100 OFF WITH CODE 100OFF
Get 2 Free Stocks on WeBull when you deposit $100 (Valued up to $1001): https://act.webull.com/k/Vowbik9Tm5he/main
Merch: http://www.GrahamStephanStore.com/
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
FIRST: CHOOSE YOUR SCHOOL VERY WISELY.
As we all know, every college is going to be a different experience, with a different focus…and a different cost. Just look at the numbers…the average price for a private, 4-year college is nearly 3.5x HIGHER than that of a 4-year in state school.
https://bigfuture.collegeboard.org/pay-for-college/college-costs/college-costs-faqs
But maybe, at this point you’re thinking…well, if I go to an Ivy League school and pay a little more money…THAT would make a difference, and THAT would be worth it….and if you think that way…well, statistically speaking….you’re wrong.
Two studies were completed in 1999 and again in 2011 which followed the academic pursuits and income of both Ivy League graduates, and non Ivy-League graduates…and their findings were rather surprising.
https://www.nber.org/papers/w7322.pdf
This finding suggests that it’s the individual attributes among the students that mattered the most, NOT the college they graduated from…and not from the “social networking capital” of those prestigious schools. So, no…the type of college you go to will not make a difference in how much money you end up making.
SECOND: ATTEND A 2 YEAR COMMUNITY COLLEGE
Price wise…the average annual cost of attending community college is just over $3300 per year…that’s pretty much 1/3rd the cost of attending a 4-year state school, and 1/10th the cost of attending a private university. That is a MASSIVE savings, right off the bat, for getting those first 2 years completed and out of the way.
THIRD: SPEND YOUR TIME - NOT YOUR MONEY
Here’s what I mean…as a college student, chances are, you don’t have an abundance of money…BUT, you do have your time to use, instead…and one could argue that’s the greatest capital of all.
FOURTH: LIVE OFF CAMPUS
It was found that from 2017-2018, students spent an average of $10,800 per year for room and board at public 4-year institutions, and that amount jumps to over $12,200 for private, 4 year colleges and universities.
https://thescholarshipsystem.com/blog-for-students-families/what-is-room-and-board-what-will-it-cost-you/
For those reasons, if you’re looking to cut down on these costs significantly…it might be worth it, first, to potentially live at home with your family a little longer. Or you could also look into living OFF CAMPUS, which could still be significantly cheaper than living in the dorms or on campus.
FIFTH: TEXBOOK COSTS
To start, the college board found that the average cost of textbooks from 2018-2019 was almost $1300…which, is insane.
First, try searching google for a free PDF of your book. All you need to do is type in [title of book] filetype:pdf and it should bring up any applicable search results for what you’re looking for.
Secondly, if you can’t find it there - try Amazon or Chegg. They’re both amazing resources where you can rent or purchase textbooks at a MUCH cheaper rate than what your college might charge.
SIXTH: CREDIT CARD REWARDS
This is essentially the practice in which you open up a credit card with a great sign up bonus, meet the minimum spending requirements, you get the points, and then you can repeat this with other credit cards, as well. And while you’re in college, this is generally the perfect time to do this, because the temporary hit to your credit score won’t really matter in the short term - and long term, you’ll be diversifying your credit history and further strengthening your score.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
*Some of the card links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This content does not include all credit card companies, or all available credit card offers. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
Some schools give ALL students in-state tuition.
He talks about community college in this video, but what’s also really good is dual enrollment. If you can, I would suggest these classes as well, allows you to get rid of high school and college credits at the same time. I did that and have completed almost all my core hours for college before I have even started!
Do you have any recommendations for trade schools
He didn't go to college, but his advice is solid. You can also rent textbooks if they aren't available as a PDF online.
He rolled up paper and put a tie around it for the thumbnail 😂
Why you have to do rice gum like that 😭
I'm already past that 20 yr mark…. so wish I had a trustable roommate to share costs :/ can't do Airbnb bc it is a rented place
another huge time and money-saving tip that also reduces stress: do NOT date after high school. Don't risk being a single mother (I speak from experience here!!) and it will be less distractions and stress. My biggest regret was letting a narcissist ruin my youth/college goals by dating him and getting pregnant, and not going back to college. Man, if only I had a time machine!
do we think graham is hungry?
Lol I didn’t get accepted to my first choices so I’m going to community college rn and I’m pretty happy cause I’ll get to where I want to be anyway regardless of the path the destination is the same
You make a great point about community college, as someone who attending community college I would like to elaborate on that.
First of all, if anyone here is in high school DUAL ENROLL! It will change your life, for those of you who don't know what that is that is when you take classes at a community college that count to both high school and college credit. In some states, such as Michigan, this is free.
Second, in my experience professors at community college will put in a lot more effort into classes and pouring into their students because they do not have the publication and research pressures/requirements that four year professors have. I have been told over and over by community college professors that they choose the community college instead of a four year school because it allowed them to be a teacher and mentor solely. Build connections at your community college. Even after I transferred to a four year school I was still talking t my professors at my community college that where able and willing to help me.
Third, take as many CLEP exams as your school will let you take. A CLEP exam is an exam where if you pass you get credit and meet the course requirement for the given subject. The exam is only $80 regardless of how many credits the exam will give you. I was able to get 8 credits for Spanish which is a language I have been speaking since I was 5 years old. In total I have around 15 credits through CLEP. If you go through Modern States, they will give you free study materials and pay for the exam.
Good luck everyone!
I’m my school (idk if it’s for every school) if you get valedictorian then you can go to any school (that you were accepted to) in our state with a full ride. I’m hoping to become valedictorian and even if I get into an Ivy League (like 10 people got accepted to Harvard in the 2020-2021 senior class 💀 that’s 1/6) I’m still going to go to school in state so my debt is a lot less.
wish I had seen this 2 years ago
Me in a four year college 😐👎🏼
I was 17 when I first started college, making a decision on what I am going to do with my life is hard. I am going to my community college and all I have to pay for are my books because I got a scholarship. Everyone in my high school was offered this scholarship but I was 1 of like 10 who kept it and even less used it. I'm so glad I did this I now have money in a roth IRA, stocks, Acorns, and a part time job. Make fun of community college all you want, I know there are many students that are in the same position as me but are stuck in a 4 year with no money to invest and don't know what they are doing.
if you transfer from your 2 year community college to university, look into getting a transfer scholarship! this help me so so much!
College student paying my way in Merit Scholarships, EBay Store, part time jobs, internships, and working as an RA on campus. 100% debt free and not a penny from my parents going towards tuition or housing
you helped my mother thank you SOOOO much. THAT WAS GOOD ADVICE
Do a program like Early College (I'm in one now) where your high school pays for your associates degree at a community college!
My dorms are 1000 a year 😳 – should get more money from the goverment tho 😢
My community college charges 189$ per credits is that normal?
I’m currently a student at East Central University. We are required to have a meal plan if we want to live on campus. I got my own room (shared bathroom) and the cheapest meal plan (10 meals per week) for $1700 and $1500 respectively, so in essence it is $3200 for food and place to sleep for the semester. Renting an apartment around here is about $1000-1200/month. Which means without food. So I figured living on campus is way cheaper. And home is about an hour away so driving every day is not feasible. So yeah, living on campus can work out better. But the community college is definitely good. At community college I spent around $500 in gas per semester with each semester costing me around $2500/semester. A semester at ECU (including the room and meal plan) is around $6600. So yeah, no brainer on that really. Everything in Oklahoma is a long ways from each other. Any place in town is at minimum a mile away.
So smart. I went to two year first.
Chose the school that offer me the most scholarships and grants. It was a great choice.
become an RA and you get free housing. My school also offers RAs like $1500 a semester for food at the dining halls
A few more friendly tips:
Need a laptop, calculator, other supplies for classes? Your on campus library may loan out such equipment.
Had to buy that $200 textbook? After the class get some money back when your campus does a massive textbook buy back program. If your school doesn’t have one search up textbook buy back online many websites will buy your textbooks.
I know if California, even if you are financially independent your parents income must be calculated into your FASFA until the age of 24. Scholarships from the government will be harder to get with that extra income calculated in. Look for scholarships from the school. Apply for all of them even if they don’t apply to you. The school has money set aside specifically for that and the money must be given away. A lot of students don’t take advantage of these so if you’re the only one who is applying you’ll win the money for sure.
Need more aid? Look towards 3rd party scholarships using the internet or your financial aid office at school. Your counselors are there to help. Enroll to have a free personal financial counselor that will follow through your academic career they are very helpful.
Hungry? But, broke? A lot of campus have in campus food banks or give out free meals with specific programs. They are designed for students in need, but many of these resources are not used. The food will go bad so they give it out to anyone willing to ask for it.
Need a personal tutor but too broke for one? The best personal tutors can charge up to $100-$200 an hour. Big ouch on the wallet. Your school may have free tutoring centers. Depending on the school they may pay experts to serve as tutors or pay students who have already taken the classes to tutor others. The best part is that it’s usually free. Chegg is a great place to answer your questions for $20.95 a month. Plus they are 24/7.
At a 4 year university, but need more individualized attention for a hard class? Consider taking that class at a a community college. For example you can take an organic chemistry lecture at your 4 year. Then take the organic chemistry lab at a local community college. They will have a smaller class size and it’ll be cheaper.
Are you going off to a 4 year university for the first time and not know anyone, but want to find roommates? A lot of colleges have Facebook groups. Many freshman may be in your situation send a shoutout about looking for roommates or friends. You can usually find an abundance of roommate options and friends.
Still in high school and looking for money to fund your college tuition? Most high schools have a financial advisor that other students never take advantage of. Make an academic resume and submit it to them. They may take a liking to you after seeing your dedication and submit your resume to 3rd party scholarships for you.
If you’ve been part of a club or organization for a few months or a few years be sure to look into scholarships specifically for members. They want to invest in your future. You are also more likely to get the money due to the small pool of people applying.
Honestly, if my calculations are correct, I should be making enough money to go through trade school and invest a good chunk of change while in achool
Smash that like button
I think its important to remember that for the most part, if you transfer from one college to another, so from community to uni, you are most likely not eligible for any of the scholarships or grants a first time freshman would be eligible for if they go straight to uni. Its a great idea to apply to uni JUST to see how much financial aid they offer. If you can get it paid for, go! You'd go for free, maybe get a refund back, and you'd get the college experience we all want:)