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11 Ways Parents Can Help Kids Cut College Debt Now

Here are some cost-cutting tips from students and college financial aid people

February 22, 2013 RSS Feed Print
Parents who purchase prepaid tuition credits should plan ahead to avoid surprises when their child gets to college.

Every student has their own tips. A 2010 Cornell graduate, public relations executive David Brodnick of Weber Shandwick, found a way to stretch dollars at the deli counter.

"My own dollar stretching tactics in college surrounded holding down a deli job that allowed me to eat lunch for free at work (not to mention actual pay) and to go off the university's costly food plan. Living in a fraternity house for three years I saved probably $5,000 to $10,000, as all living expenses were included, and I didn't have to cook or clean, and could focus on studying."

Think small. In getting a degree that costs $100,000 to $200,000, nickel and dime savings might not seem so big. But even a relatively small cost can become larger if its paid out over the life of a student loan, with interest. As Greene says, "It really all adds up and it can be more painful later in life when you pay back those loans."

 

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