November 24, 2022
  • November 24, 2022

5 Ways to Get a Tuition Discount | pay for college

By on October 28, 2022 0

College is an expensive investment, but there are several ways to reduce the burden.

One option is to offer tuition discounts, which in recent years have been offered at historically high rates at private colleges, for example.

The average tuition reduction was estimated at nearly 50% for all undergraduate students at 359 private, nonprofit colleges in the 2021-2022 academic year, according to an annual survey by the National Association of College and University Business Officers.

What is the tuition reduction?

Tuition reduction refers to any type of financial aid a school uses to reduce the net price of attendance for its students, says Jill Desjean, senior policy analyst at the National Association of Aid Administrators. financial to students.

Some discounts apply to all undergraduate students while others are for a specific group of students. Discounts may take the form of a tuition waiver.

Tuition waivers “are a great planning tool for students because they know ahead of time, hopefully throughout their time at university, what they will be paying or what part of the fee they will be paying. pay,” says Zachary Goodwin, executive director of financial aid and scholarships at the University of Nevada, Las Vegas.

“They can easily see things from a four-year perspective,” he adds. “While sometimes it can be a bit more difficult to plan ahead when the costs are going to change each year, but you don’t necessarily know what that looks like. So that gives a bit of stability.”

Be sure to check with your school for tuition discount eligibility, experts say.

Ways to Get Tuition Discount

Here are five areas where students and their families can discover a tuition reduction or waiver.

1. Attend a tuition-free college

Not all colleges or universities charge tuition. But attending a tuition-free school comes with strings attached.

Other schools have income, residency, or work requirements. Students at Berea College in Kentucky, for example, must work at least 10 hours a week on campus.

“Generally, tuition revenue is a good chunk of your running costs,” says Nat Smitobol, college admissions counselor at Ivywise. “When you are a school like Berea, you decided to find another way to fund your running costs.”

2. Receive a tuition waiver based on household income or demographics

Starting in fall 2023, Princeton families earning up to $100,000 don’t have to pay tuition or room and board, according to the school’s website. The current income threshold is $65,000.

“Instead of applying this complicated formula to each person and giving each person precisely the amount of needs they are going to need, schools will simply say, ‘Overall, if your family earns less than this amount of money , you don’t pay anything for tuition,” says Desjean. “It keeps it simple and sends a very clear and transparent message to low-income families that they can afford this education.”

Tuition waivers are not solely based on income. Many are intended to support certain student populations, including adoptive, military, or Native American students. Additional documents may be required.

“Often these are populations that have been severely underserved or are unlikely to have the resources to make college possible for them,” Goodwin says.

3. Take a summer course

Some schools offer reduced tuition for taking classes during the summer. Worcester Polytechnic Institute in Massachusetts, for example, offers 50% off every undergraduate summer course. Students can choose from over 100 options, each lasting five weeks.

Other colleges, such as Farleigh Dickinson University, have certain requirements to qualify for a summer school discount. The New Jersey school offers a 50% tuition discount for undergraduate summer courses, but students must first enroll in a three-credit course at the regular tuition rate.

4. Apply through a regional exchange program

Out-of-state students may qualify for tuition at a reduced rate through regional tuition exchange programs. Each state belongs to a regional program, including the Southern University Common Market, the New England Regional Student Program, the Midwest Student Exchange Program, and the Western Undergraduate Exchange.

Under the Midwest Student Exchange Program, for example, students applying to certain programs pay no more than 150% of the prevailing tuition fees at participating institutions. Meanwhile, private colleges offer a 10% tuition discount.

5. Be an employee or dependent of an employee of the College

Another way to reduce the price of tuition is to start working at a future college before enrolling as a student. Some colleges waive or reduce tuition for an employee taking classes. Employees who have worked full-time for at least six months at the University of Utah, for example, receive a 50% tuition discount.

Tuition discounts are sometimes given to an employee’s spouse or dependents. At Pennsylvania State University, a spouse or dependent up to age 26 – who is classified as a biological child, stepchild, legally adopted child, or child whose employee is the legal guardian – is entitled to a tuition discount of 75% per credit.

Discounts come in other forms. Many colleges cover the full cost or offer a discount on room and board for students who work as a residence assistant.

But even if a student isn’t working on campus, a job at a local retail store or restaurant “still helps offset the cost of college,” Smitobol says.

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