Today, the average cost for one year of college ranges from $22,000 at an in-state university to $47,000 at a private college. If you're taking out student loans to pay for it, you could be at least $90,000 in debt by graduation day.
You won't be alone, either: Total student debt in America is approaching $1.4 trillion.
If you really want to go to college, and stay out of debt, it is possible and, yes, it is difficult.
The biggest costs of university are tuition and room-and-board. The average tuition for an in-state student going to a state university is about $10,000. It costs a similar amount in most locales to live in a dormitory with food provided.
A student who can stay at home while in college automatically chops $10,000 to $15,000 off the college budget.
That leaves tuition. With a $10 an hour job, a student makes about $20,000 a year, enough to pay for tuition on a thrifty budget if he lives at home. Where you work can make a difference. Wal-Mart, Lowes, Home Depot, Starbucks, UPS, FedEx, Best Buy and McDonald's are among the dozens of companies that offer a college benefit package.
Scholarships can help offset costs of books and fees, each of which tally up to more than $1,000 per year.
Also, work-study programs can offset costs of housing and tuition. You can get information on those programs from the college financial aid office.
Rick Good spent ten years in the newspaper business, including with The News & Observer (Raleigh, NC) and The Greenville News (Greenville, SC). He co-wrote, with Melinda Coleman, Rutledge to Riley: Governors of South Carolina, 1776–Present (Published by The Greenville News), and is the author of Mind Games Trivia #1 (Amazon). He has recently spent 15 years creating original trivia content through Sounds Good Mobile Entertainment and continues that with his new company, SGME Software. He edits The Smart Reader’s money, real estate, and business coverage.
