With costs of College rising, finding affordable ways to achieve your dreams can be challenging. If you’re not careful, you can accumulate over $30,000 or more in student loans by the time you complete your degree. If you’re a working adult thinking about going back to college, this kind of expense will dig you deeper into debt with the other financial obligations you already have. But don’t let this discourage you right away! There are plenty of ways to be frugal and save on the expenses of college.

You may be considering going back to college for a number of reasons, such as obtaining a higher salary, job advancement, a career change, or better job security. The number of working adults and mothers returning to school has consistently been on the rise and colleges understand today’s modern student better than ever and work to accommodate their busy schedules.

You might be thinking, it’s too expensive to obtain my degree, or how much debt will I have to go into? These are great questions that you should be seeking answers for, along with others, before signing up for classes. Some of these answers depend on what program you are interested in and the school that you are looking at. Prepare to do a lot of research as going back to college is a big decision.

There are a number of ways that you can save money when going back to college. As a higher education professional working in the field for over 10 years, I’ve learned a few things to help you keep your costs low while pursuing your dreams! So, below are 6 ways you can save money when going back to college:

1. Community College

With community and junior college tuition being only a fraction of the cost of four-year institutions, it’s a smart idea to take your common core courses at a Community College. Bachelor’s degree programs all typically have a common set of prerequisite courses you need, such as English, Math, and Biology. These courses are very similar no matter where you take them. So instead of taking them at a higher cost with a University, take them at a community college and transfer the credits to save a tremendous amount of money!

Your degree will still be issued by the University and have the same credibility as anyone else’s, except you will be paying a lot less. Even better, four states have already started providing free community college to residents and more than 10 more states are considering it and having the bill go through the legislature. If you live in one of these states, you could get up to 60-72 credits (about half your Bachelor’s degree) for free! Be sure to check into this to see if your state offers free community college, or if it’s in the works.

2. School Selection

Choosing the right college to attend is important in saving money to obtain your degree. There are a lot of factors to consider when choosing the right school, but for budget-conscious individuals, you want to pay close attention to the tuition. In general, in-state colleges will charge less tuition than an out of state school. Private schools are often more expensive than public schools. It’s wise to begin your search with local, public colleges.

But don’t end your research there and be sure to check out as many options as you can. Some online programs will offer in-state tuition to out of state students. Look into programs that target and cater to working and busy adults. They often have accelerated programs that also save money in tuition and you earn your degree quicker.

3. Scholarships

Many adult learners think that scholarships are for young adults fresh out of high school and fail to even search for scholarships. This is a big mistake! There are many scholarships available for adult learners and most scholarship providers do not set age limits to be awarded.

Many Universities with large online programs target adult learners and offer their own scholarships for them. Some companies also provide scholarship opportunities for their employees. So be sure to check with the college you plan on attending along with your employer for potential scholarships. Check out scholarships.com for other nationwide opportunities.

4. CLEP Exams

Most people have not heard of the “earning credit by examination” program called CLEP (College Board’s College-Level Examination Program). You can take exams in a variety of subjects to earn credit for a fraction of the price. Most of these exams range anywhere between $80- $ 100 depending on the institution you take them at.

Students can earn credit for taking an exam in a subject in which they are already well versed in versus taking a class at full tuition price. Most of these examinations will give you course credit for one semester. You will want to check with your institution to determine the number of credit hours you will receive for the examination prior to taking it.

5. Buy Used/Rent Textbooks

You may want to stay away from the college bookstore if you are trying to save money on textbooks. Institutions have a huge mark up on new textbooks. You can save a lot by purchasing textbooks used or online. Yes, it is readily available but convenience does mean higher prices. Before purchasing textbooks get the ISBN number and check Amazon.com, Campusbooks.com or Chegg.

Renting textbooks is a great way to lower cost as well. Chegg rents books out per semester. Be cautious with this method if you are a little carefree, though, as rental means you must keep the book in good condition. If the book is damaged you could end up paying more for the replacement.

6. Student Loan Interest

If you take out unsubsidized student loans the interest begins accumulating from the moment you take out the loan. Many people are not aware that you can begin paying the interest right away. It’s tempting to try to forget about the student loans until you graduate, but this is also a big mistake.

For starters, you should always keep track of how much loans you are accumulating. Secondly, it can save you a lot of money down the road if you make interest payments while you are still in school. With unsubsidized loans, interest continues to accrue throughout your time in college. When you graduate, that interest is added to the principal amount. You are essentially paying interest on interest. Paying as much interest as you can throughout college will help keep your loan amounts down, saving you a lot over time.

Planning ahead and being smart about going back to college can save you a lot of money and you won’t have to take out a second mortgage just to get your education! There are many things to consider when going back to school and cost should be near the top. Your education should be a wise investment, so consider the cost closely with your desired degree program’s job outlook and average salary.

We hope these tips help you in your journey to realize your career goals and dreams! If you have additional tips that have helped you obtain your degree for less, let us know in the comments.

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