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NJ Cheap College

College on the Cheap?

College on the Cheap?

Perhaps you have a New Jersey teenager who is approaching college age and you are concerned about the cost of higher education. The reality is that most undergraduate degrees do not have much immediate economic value. The question, therefore, arises as to whether or not you should spend or borrow $200k for undergraduate education for your offspring. Here are some ways to beat the system LEGALLY. 

Community College. Community colleges tend to be very inexpensive. Your son or daughter can attend community college for two years and then finish at a four year college. In New Jersey, as a matter of law, four year colleges and universities accept community college credits. This will reduce the cost of college by almost fifty percent.

College in Europe. Unbeknownst to the average American, college in Europe is totally free or close to it. Many schools are seeking American or foreign students and in many cases classes are taught in English. The two major differences between the U.S and Europe are that undergraduate programs in Europe are three years while in the U.S. they are four. Also, European programs do not require as many general education courses as do U.S. programs, since general education courses are covered in secondary school.

College in Canada. While college in Canada is not free for Americans, it is extremely inexpensive. In Ontario, annual tuition at current exchange rates is about $10k per year. And unlike Europe, there is no transatlantic plane ride. An added advantage is that Canada has the same standard of living as the U.S. but it lacks the nuttiness of America.

Getting a job with a college or university. Many colleges and universities offer free tuition or greatly reduced tuition to employees. Obviously, it would take longer to complete the degree, but what is a couple of years at the age of 18?

Giving legal guardianship of your son or daughter to a relative. This is coming under increased scrutiny by colleges and State governments, but you might still want to look into it. Basically, you give legal guardianship of your son or daughter to a poorer relative and your offspring applies to college based upon their guardian’s financial circumstances and not yours. This could greatly increase the amount of any aid granted.

In state tuition, without living in the State you are going to school in. This is tricky but in some circumstances, it can be done. Google “how to pay in-state tuition without being a resident” to learn your options.

 


So, yes, your son or daughter can get a college education without going broke. If you are going to spend big bucks on education, save it for graduate or professional school, not undergrad.

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