Save Money on College Expenses

Posted by: Sally S. | Jan 10,2008

If you’re trying to save money on college expenses, there are a few things you should consider first. If you’re not prepared, you could end up spending a lot more than you planned. What you should know about saving money on college expenses:

 

Look into available scholarships that your child will be eligible for before you choose a school. I was surprised to hear my niece say that her private school is less expensive than her friend’s public university education. The reason? My niece has received tens of thousands in academic scholarships and fellowships. The student at the public university has a 4.1 GPA. But the public school doesn’t offer the same amount of academic scholarships, so attending their school is much more expensive.

 

Keep college financing to a minimum when you research available loan options before you choose. Stafford loans can help kids pay for school with a fixed interest rate and deferred repayments. Banks and online loan comparison websites can also offer competitive interest rates on college loans. Ask questions upfront about loan terms and interest rates so you know what you’re committing to before you apply for college financing.

 

Get multiple quotes for a loan at an online loan comparison website to help save on college expenses. Loan comparison websites like LowerMyBills.com let you compare interest rates from multiple lenders online before you choose. 

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