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5 tips for getting an affordable college education

5 tips for getting an affordable college education

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Most people seeking a job or hiring for a job can attest to the importance of formal education. Not only is the training important, but the commitment to finishing school is also appealing to employers.

However, paying for formal education is not always feasible. Education costs have risen astronomically in a few generations, and it doesn’t look like the prices are going down. As of 2019, the national student loan debt is in the area of $1.56 trillion, according to Forbes.

For 2018, 69% of college students took out educational loans and the average amount of debt for each graduate was $29,800, according to Lending Tree data. Clearly, people understand the importance of education, but the idea of paying it off is certainly daunting.

As technology breakthroughs happen daily, there are more ways to get an education without committing to a life of debt. Here are some options to help get you started on a path toward affordable education.

Online schools

Nearly every educational institution has some form of online program, which can dramatically cut costs for students. There aren't parking fees, building costs and other expenses to cover, making tuition less expensive.

BYU-Pathway Worldwide is a simple option to get started. The PathwayConnect program offers credits at $73 each, compared to the average cost of $595 per credit hour, according to Lending Tree. Students can begin or resume school with the PathwayConnect program, and then take those credit hours and put them toward a degree or certificate. With nearly 40 degree and certificate options, there is a path for anyone looking to take their classes on their own time.

If the degree or certificate you want isn't offered through BYU-Pathway Worldwide, there are numerous other online schools and programs offering convenient education options.

Community and city colleges

Tuition costs at many state and public colleges are becoming too much for middle-class students to bear, much less low-income students reports NPR. Community colleges are a cost-effective option for many students. Many offer programs designed to help you learn alongside people you would eventually work with in the field, giving students a hands-on approach that bigger schools can't offer.

Since these schools have smaller class sizes — and typically fewer programs offered — the tuition costs can be significantly less than state and private colleges. However, they are still more expensive than options like BYU-Pathway Worldwide, which charges just $73 per credit if students complete PathwayConnect or just $125/credit if they go directly into a degree program through BYU-Idaho.

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Shutterstock

Certifications

Today many good-paying and in-demand careers require specific licensing or certifications. Instead of the traditional university degree model that begins with general education courses, the BYU-Pathway Worldwide model focuses on earning certificates early in the education process. That means students get to take courses in their desired field of study right from the start of their program.

And many certifications can be earned in a year or less, meaning a faster entry into a better-paying career. Online college classes and community college programs typically offer these types of programs for much less than the cost of a four-year degree at a university.

Grants and scholarships

Federal Pell Grants exist to help students get an education who may not otherwise have the chance. Depending on your school of choice, parents' contribution and whether you plan to go to school full or part-time determines your eligibility for these grants.

If you have a specific university or college in mind, the financial aid officers on campus can help you get the most out of your options.

In addition to grants, it's a good idea to apply for every scholarship you can. Even small awards can make a big difference. Money.com recommends applying for the scholarships that have a lengthy application process because the competition will be lower. Most people don't want to take the time to apply if the process is tedious, so there will be fewer people fighting for the award.

To find scholarship opportunities, start with this free search engine for all things scholarships.

Work placement programs

Many programs exist to train and hire the best employees possible. These work placement programs promise to pay tuition for students with the agreement that the newly graduated student will come back and work for their company.

These programs are not only an excellent option for paying for school, they're also a great way to get a job without the dreaded previous experience requirement. It's hard to get an entry-level job when the job requires previous experience. Work placement programs take that frustration away.

While these programs are more difficult to find in the U.S., it's not impossible. Having a solid idea of the field you'd like to work in can help you narrow down participating companies close to you.

In the end, education is about opening yourself to new ideas and ways of thinking. Finding non-traditional ways of getting an education and paying for it is key to a successful college path. To get started on your higher education, visit the BYU-Pathway Worldwide website.

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