Top Tips for Better Student Budgeting and Reducing the Cost of Study

For many students, budgeting is important to ensuring that they have enough disposable income to fund their lifestyle whilst at college. But, with tuition fees on the rise, student jobs harder to come by and the cost of student living on the rise, getting a college degree is quickly becoming one of the costliest pathways that you may pursue during your lifetime, with many individuals still repaying student loans decades after graduation. Because of this, understanding how to drive down the cost of study and budget well is something that’s becoming increasingly important to college students. We’ve listed some helpful tips and hints that you can use in order to increase your savings and cut down on spending whilst at college.

Consider Online Study

Thanks to online education which has become increasingly more popular over the last decade or so, it’s possible to save money on the amount that you pay towards tuition by opting to study for all or part of your degree course online. Online degree courses are available at all levels, whether you’re setting off to college for the first time or are returning from the workforce in order to pursue postgraduate study such as a DNP online degree. In order to save money on tuition, you can opt to study completely online, or go for more of a blended experience by taking some modules on campus and others online.

Studying Part Time

Although studying part time means that you will need to commit to a longer period of time when it comes to getting your degree, this option can definitely be worth looking into if you are hoping to save as much money as possible as a college student. Part-time study gives students the option to work full-time, therefore increasing the amount that you earn whilst at college and taking away some financial pressure when it comes to paying rent, bills and tuition fees. If you are considering going back to college as a mature student in order to further your career, you may be able to gain full or partial funding to study part-time from your employer.

Budgeting Skills

Although there are many ways in which you can drive the cost of a college education down, understanding how to budget well is something that all students can benefit from, no matter which level of education you have reached. This is especially important for those students who are enrolled on advanced degree courses such as a doctorate in nursing practice, and will need to commit a lot of time to research, revision and producing academic literature for their program. Developing good budgeting skills whilst at university can not only be helpful for managing your money as you study, it’s also a great way to develop excellent transferable skills for life and good habits when it comes to your personal financial management.

Studying for a college degree is not the cheapest of experiences, so understanding how to manage your budget and being aware of cheaper alternatives can be very helpful to students.

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