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Transcript: College Creative Financing 101

Anchor Intro: When things get expensive…the cheap get creative. And there aren’t many things more expensive than a college education. In this Bankrate.com segment, find out how to save 20% or more on college costs.

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Voice over 1: College is where you learn valuable lessons. And lesson one you need to learn long before you get there: Get resourceful when things get pricey.

Voice over 2: Jim Bauer is a financial aid administrator for a major university…and the father of college age kids. His daughter saved major tuition money while still in high school with a program called concurrent enrollment.

SOT: “She wasn’t excited about what was going on in high school. So the program allowed her to enroll full time at the local community college and earn 30 credits toward her degree before she even finished high school.”

Voice over 3: 30 credits at a major university could cost 20 grand. So ask about concurrent enrollment while your kids are still in high school. Another popular money saver? Accelerated degree programs.

SOT: “Accelerated degrees actually allows students to attend school full time.” “They may attend 12 months out of the year in order to complete their degree in 3 calendar years instead of the normal four.”

Voice over 4: Shaving a year on campus means shaving the overall bill by 25%...plus, summer sessions are often cheaper. Third possibility? Start small.

SOT: “Community colleges are lower priced than both public or private 4-year institutions...”

Voice over 5: So starting at a community college is another tactic that could save 25 to 50% of the cost of college. Just make sure the credits will transfer.

Standup: If you want to save money on college, plan ahead and think about alternatives to expensive private schools. For Bankrate.com, I’m Kristin Arnold.

Bankrate.com's corrections policy
-- Posted: December 31, 2009
 
 
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