College Final Part: Other ways to save money

By David Pilley on June 26, 2012

Well, you’ve learned that college can be expensive. A college degree does not automatically ensure a job, and you could be in debt tens of thousands of dollars if you do not pursue scholarships. It’s also important to join an extracurricular group during college, such as the band or a fraternity, because friendships built here may be an effective resource for finding a job after graduation. Are there any other ways to save money and lower debt during college? Absolutely! College is a transition period between school and the real world, and this is a time for you to build critical thinking skills. Here are some of the more outside-of-the-box ideas for saving money in college.


Don’t go. That’s right. You don’t have to immediately go to college right out of high school. College will always be there for you. Instead of going to college, work for a whole year. If you’re still living with your parents, work out a way to pay them rent. Having some real world experience may make you better prepared for college, and the money earned from working an extra year will ensure fewer loans to pay off after graduation. Just be aware that colleges raise their tuition every single year…

Attend a community college instead. There may have been a negative connotation around this phrase in high school, but there is absolutely nothing wrong with going to a community college. Many schools offer two-year programs in rapidly growing areas, such as computer programming and engineering. Community colleges cost a fraction of what four-year schools cost, and you can live at home and avoid the fees associated with a four-year school’s room and boarding. Attending a community college for two years and then transferring to a larger university for the final two years is another way to lower your potential debt.

Take Advanced Placement courses in high school. Many high schools offer college credits for AP classes. Each class will usually equal three hours, and you need 120 hours to graduate from college. Therefore, it is possible to knock off a couple of college semesters in high school! Paying for three years of college is much less than paying for four years, so take AP courses (and the exams) during your junior and senior years of high school, and submit these grades to your college or university to get proper credit.

Live on-campus instead of off-campus. On-campus living is typically covered by federal financial aid, while this is not always the case for off-campus housing. Living on-campus also means less traveling, especially if you also have a meal plan at the school’s dining halls.

Walk, bike, or take the bus instead of a car. When I attended UNC-Chapel Hill, everything on campus was (and still is) reachable by either walking or by bicycle. I was also lucky to go to a school where the public buses were free! (This is also still the case.) Even if bus rides aren’t free where you go to school, it’s usually a dollar to ride; this is much more affordable than leaving your car in a public parking lot every day, where the cost may be two or three dollars per hour. You also don’t have to pay for gas, and walking will help win the battle against the dreaded “freshman fifteen.”

Participate in psychology studies or become a donor. This one is definitely off the wall. It might not be available to everyone, and it might not earn you too much, but it doesn’t hurt to try once. Most psychology studies involve answering questionnaires and performing memory tasks, and each one could earn you anywhere between $5 and $50. Colleges and universities usually have a hospital on or near campus, and you may also be able to apply to become a sperm or egg donor. While being a donor means being routinely monitored and sticking to a strict, healthy diet, you may earn a few hundred or even thousands of dollars over the course of a few weeks.

Don’t buy textbooks. At least not all of them. Textbooks can cost as much as $1,000 per semester, and you can save a bunch by renting. You may also be able to find some of your texts at Amazon or in a bookstore priced half of what they cost at your university’s bookstore. Heck, when I was in college, I was able to find copies of a few textbooks in the library. The key in saving money on books is to search early, even before the semester begins.

Try out for a game show. Well, this one is certainly not a guarantee. (I’ve auditioned three times for Jeopardy! and have yet to be contacted to play the game for real.) You have a low chance of winning anything and much of what you win will be taxed. To cover travel expenses, you might ultimately end up with no net gain. Still, you’ll remember the experience for the rest of your life.

Join the military. This choice is also not for everyone, as only the most dedicated and most willing to sacrifice are fit for the armed forces. If you do join the armed forces, your lifestyle may nearly be nomadic, but your college expenses will be paid in full by the GI Bill.

When in doubt, work-study. This isn’t really outside-the-box, but many people just don’t utilize this option. There are plenty of jobs on the university campus, such as the student union, library, science labs, residence assistant for dorms, and much more. These jobs will be scheduled around your classes, and you may be able to study during down time. It’s all a matter of meeting new people.


College is a combination of using what you already know and learning new things to find out who you are and what you like. It’s a time of discovery and trying something new, seeing things from a different perspective. Unfortunately, it’s also a time where you may accumulate a large debt. I wish people would’ve actually told me this in high school, but I guess you can’t really learn anything without having experience. Apply for scholarships, study hard, go out and dance once in a while, and study some more, and you will be on your way to a successful college experience.