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Health & Fitness

Covering Those Additional College Costs

Financial aid won't cover all your college costs. Here's how to cut the cost of all those additional expenses.

Seniors are receiving acceptance letters and are considering their college options this spring, and that means parents are crunching numbers, deciding how to pay for the college costs not covered by financial aid.

There are ways parents and students can save for those "other" expenses, such as books, meals, and all those other expenses that can impact the family college budget. Below are a few ways to easily cut your costs. 

Consider Meal Plans Carefully: Many colleges and universities offer several meal plan options to choose from. Opting for fewer dining hall meals can cut your costs. Consider your child's eating habits when deciding which plan makes the most sense for your student.

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Find a Job: If your student can find a part-time job, either through a work/study program, or on his own, the additional paycheck can make all the difference. Even if your student doesn't have a work/study option has part of his financial aid package, there are numerous jobs available in most college towns.

Buy Used: Textbooks can be extremely expensive, but purchasing used textbooks can cut costs significantly. Amazon.com and Affordabook.com are two online options. Students can also purchase used books from fellow students. Also, consider purchasing used furniture for that dorm room. It's probably going to be used and abused, after all.

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Ask About Discounts: College towns are usually student-friendly. Be sure your student brings his student ID wherever he goes, he may be surprised to learn that students often receive discounts, if they have their ID to show.

Cut Dorm Fees: Your student can look into becoming a Resident Assistant (RA) after his first year of school. RAs help counsel and assist students in the dorm, and they typically receive free room and board for their services. Some may even receive a stipend. Parents can also look into the option of buying a property near campus. Save a room for your child, and the rent the other rooms to students. Their rent will cover your mortgage, and utilities.

Ian Welham is an expert at helping students find the best-fit college and helping their parents pay for it. For more information, visit completecollegeplanningsolutions.com or vist the Complete College Planning Solutions page on Facebook

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