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Much has been made of the cost of higher education. But how you personally afford it is actually a different conversation. From lowering tuition to sourcing scholarships, we take a look at how you can make earning your degree a financially feasible endeavor. 

When it comes to paying for college, numerous resources and options are available to make higher learning more affordable. Among these are scholarships, grants and personal savings, each of which can play a role in your strategic plan to reduce your financial burden.

So, where does that plan begin? It starts with calculating the total cost of your education for as long as it takes to complete your degree program, not just for the first year. Knowing the full lineup of costs, based on the number of years your program requires, helps you plan strategically and effectively to avoid financial difficulties down the road.

It’s also important to account for all expenses. Your degree, after all, will cost more than just the tuition. For example, you may need to consider what you’ll pay for room and board, books and supplies, and any additional fees like technology charges, transportation and personal expenses.

Distinguishing the difference between the total cost and the effective cost of college is critical. Total cost (“sticker” price) comprises all of the expenses mentioned above. This cost is before any financial aid, scholarships or grants are factored in. The effective cost (net price) is the amount you owe after deducting any scholarships, grants or other forms of “gift” aid.

The effective cost can vary greatly from the total cost. , a tool from the National Center for Education Statistics under the U.S. Department of Education, illustrates this reality. As a resource that can help students compare prices, graduation rates and financial aid statistics among institutions, its data reveals the breadth of differences.

Enrolling at a community college and completing your general education requirements before transferring to a four-year institution is one way to lower the overall cost of your degree program. Community colleges generally have lower tuition costs, which can save you thousands of dollars compared to taking the same courses at a university. 

Certain certifications or training you’ve completed may be applied to your program. Not only does this reduce your required coursework but it may also reduce your total college costs.

Some higher education institutions also work with alternative credit providers to offer short, self-paced classes with built-in assessments. Students who successfully complete those courses can then transfer the credits toward their degree program. Such providers typically charge a per-course fee or a monthly fee, which can be less expensive than traditional college tuition.

Although student loans may be available, it is best to minimize debt. Let’s take a look at some strategies for cutting expenses and funding college:

The Free Application for Federal Student Aid (FAFSA) is essential. Completing it is the key to accessing any federal grants or loans for which you are eligible. Some key factors to understand:

• You must submit a completed FAFSA every year.
• Be sure to ahead of any applicable deadlines. 
• Apply even if you don’t think you will qualify. (You never know!)
• Determine your dependency status: 
  • The FAFSA form asks a series of questions that determine whether you are a dependent or independent student. If you are a dependent student, you must report parent information in addition to your own.  

If you are employed, check with your employer’s human resources team to see what benefits are available with regard to paying for college. Employers may offer tuition reimbursement, which requires the employee to pay for their classes upfront. Once the employee completes each course, typically earning a specific minimum grade, the employer will reimburse all or some of the cost.

Employer tuition assistance, meanwhile, may refer to companies that pay part or all of an employee’s tuition directly to the institution on behalf of the employee. Some schools may also offer tuition assistance or reimbursement.

Some employers offer programs to assist their employees with paying off student loan debt. One strategy involves an employer “matching” student loan payment and redirecting retirement plan funds toward assisting with loan payments.

No matter what type of assistance is offered, employees should note that accepting it may come with a string or two. Namely, the employee may be required to stay on at the company for a set period of time after completing their degree or risk repaying their employer for their educational investment. 

Scholarships can be an excellent way to pay for college without incurring debt, as they typically don’t require repayment. Start by researching institutional and non-institutional scholarships. Institutional scholarships come directly from the college of your choice. Non-institutional scholarships come from external organizations.

Each type has different eligibility requirements and application procedures, so it’s important to plan ahead, keep track of deadlines and apply to as many scholarships as you can to improve your odds of securing one.

Scholarship opportunities can be found at free resources like the and similar online sources. Additionally, community and religious organizations, employers or your college may offer scholarships.

Securing scholarships can be a game changer when paying for college, so it’s important to devote time and attention to the application process. Be sure to customize each application and essay (if required) with accomplishments and skills that pertain to the scholarship’s parameters. For example, if you are applying for a scholarship available to single mothers, you should share your experiences as a single mother. Do not just write one “catchall” essay and use it for every application.

Additionally, set a goal to apply for a specific number of scholarships each month. Then, follow the instructions for each and double-check your application for errors.

If you think you may not be eligible for a scholarship, think again. A wide range of students is eligible for scholarships. The key is to search early, keep an open mind and stay organized. You can find more tips for getting a scholarship with a little online research as well.