With tuition on the rise, paying for education has proven harder than ever before. So, college tuition can be negotiated, fact or myth?
Well, after a house, this is the most significant investment made by the majority of people. But much like a house, negotiations can come into play. But you must be smart about it and go at it from the right angle.
Ways College Tuition Can Be Negotiated.
There are various factors you must consider, whether you are a high school or college student. Remember that there are grants and scholarships, but it does not stop there.
Student loans can get you in debt for some time, so if you will take one, you have to be smart about it and try to pay it off as soon as possible. Nevertheless, research the ones that give you the best deal and little interest rates.
It would help if you also looked into work-study programs that allow you to start paying back or reducing your loan by working on campus. You can also find a job at the numerous restaurants or fast food places that usually surround campuses.
Furthermore, housing can be a considerable chunk of your tuition. And plenty of college students want to get away from home, but did you know that is one of the reasons they fail classes?
Want to know other reasons why college students fail classes? Check it out in the article!
Thus, living with your parents or family members can seriously reduce the amount of money you need to pay. And the meal plan also adds to your costs, so ensure it is the right one for you.
As a high schooler, you can start dual enrollment. It worked for me, and it can work for you. You will simply take additional classes outside school hours to earn your AA (Associates) during your high school career.
This means that you can graduate from college with a bachelor’s in two years instead of four. Though it is unavailable in all schools, you should check with your local one. This could mean the difference between paying half your tuition or a full four years!
If you have already graduated, you don’t need to get your AA from a big university. In fact, start by doing your Associate’s at your local community college.
Then later, transfer to your wanted university. This way, your bachelor’s will still be at the university of your choice, but you didn’t have to spend as much money on the Associate’s degree.
Can College Tuition Be Negotiated
Short answer, yes. But it might be more challenging than you initially thought. Colleges and universities avoid advertising discounts as they might cost them in the long run.
Nevertheless, it is all a money game. In fact, if you managed to negotiate 10% off your $15k tuition per year, that is $1,500 off per year—saving you a total of $6k.
Now, do keep in mind that this percentage might fluctuate. Whether you can negotiate 5% or even 15% or more will affect how much money you need to have to cover tuition.
Can Tuition Be Negotiated After Accepting
Did you already commit to a school? No going back now, right? But that does not mean you can’t discuss pricing. It is recommended to do it before, as you would a house before closing.
Yet, you might just use it as leverage to further prove your point. You can argue that you are fully committed to the college and show they can possibly lose you if you cannot lower your tuition.
How College Tuition Can Be Negotiated
To lower your tuition, ask for discounts or any scholarships the colleges offer. Always advertise your worth to them as a student but keep it under wraps to avoid sounding self-centered.
If asking for a discount, focus on all the various parts of college life. This includes tuition, dorms, meal plans, fees, and even books. For example, if you somehow got books for free, that can be well over $800 a semester, depending on your classes.
All those costs can quickly add up, so get discounts in all if possible. And always calculate how much that will save you to see if it is worth your time.
But the above can prove rather useless if you ask the wrong person. Locate your college’s financial aid office; they are the ones in charge of payments and things like that.
It is also possible to contact the admission office to try to get a response. If you cannot reach either, opt for an email, which might get you the same result. However, in person is way better than an email.
Schedule a meeting and prepare yourself for it. You should be ready to point out why you deserve a discount or a scholarship. If they turn you down, continue to be just as polite.
Having an athletic or outstanding academic record could help make a stronger case to lower the tuition. If other schools have also expressed some interest in you, you can present proof and even how much you would pay in tuition and ask for the same.
Remember that the advisors are also human, so express the reasonings behind needing a reduction in your tuition, such as debt, losing a job, or even a disability.
Additionally, you can also ask for a scholarship, but most are applied for, so get ready to apply to a few and hope you get one. Some scholarships are need-based, others are just a giant lottery, but a couple is given to the best candidate.
Apply For Financial Aid
FAFSA (Free Application for Federal Student Aid) is an online form that you can apply for to gain money for schooling. You will need to take some time to fill out this lengthy form.
Have your parents or guardians near as you will need to ask for their information. You will also need social security numbers and tax reports.
You can pay the rest of the amount you are offered does not cover your entire tuition. Or you might try to appeal it and try to receive the cost of your full tuition.
Keep in mind that the appeal for more aid can be rejected, more so if you are a freshman. This is because the college has not seen your academic performance and might want to monitor you for a semester or two prior to giving you an entire ride.
College tuition can be negotiated, but it depends on how you negotiate them. But removing a small percentage of the total cost can sure add up after four years.
Funding might be available to get you a scholarship or a bit of a discount. You can also take out a small loan or ask about work-study programs offered by the university.
And lastly, FAFSA can also help, but you will need to apply and renew your application form yearly to keep everything up to date.