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by Kate Stephens COLLEGE, QUICKER 24 Practical Ways to Save Money and Get Your Degree Faster

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Page 1: College, Quicker

by Kate Stephens

COLLEGE, QUICKER

24 Practical Ways to Save Money and Get Your Degree Faster

Page 2: College, Quicker

1. Answer: DMedian sticker price of tuition, fees, room and board at private institutions in 1974-1975 was $16,475 (in 2014 dollars).1

2. Answer: DMedian sticker price of tuition, fees, room and board at private institutions in 2014-2015 was $42,419.2

3. Answer: CCollege costs are increasing at about two times the rate of inflation each year and have averaged between 6-7% for several decades.3

College Quiz

Page 3: College, Quicker

4. Answer: BCollege tuition and fees have surged 1,120% since records began in 1978.4

5. Answer: AMedian sticker price of tuition, fees, room and board at private institutions in 2030 is predicted to be as much as $130,428 a year.5

6. Answer: BScholarships covered, on average, 16% of the total cost of college in 2014 for the typical family.6

College Quiz Cont.

Page 4: College, Quicker

7. Answer: AGrants covered, on average, 14% of the total cost of college in 2014 for the typical family.7

8. Answer: Harvey Mudd College The most expensive college in the U.S. is Harvey Mudd College.8

9. Answer: $61,255This college has an overall price tag (tuition, fees, room and board) of $67,155 for the 2015-2016 school year.9

College Quiz Cont.

Page 5: College, Quicker

What do the numbers tell us?

• College is currently expensive• College is expected to get even more costly • College is only partially covered by financial aid

Essentially, there is a large gap between the ever increasing cost of college and the limited amount of financial aid. Therefore, many students resort to student loans to fill this gap.

College Is…

Page 6: College, Quicker

7 out of 10 students from the class of 2013 graduated with an average of $28,400 in student loans10

Debt incurs a hefty price–and it comes in the form of interest

Debt Isn't…

…your only

option

Page 7: College, Quicker

Federal student loan: With a 5% interest rate and a 10 year loan term, you will accrue $7,746.99 in interest on a $28,400 loan

$28,400 + $7,746.99 = $36,146.99 (monthly loan payment of $301.23)

Private student loan: With a 10% interest rate and a 10 year loan term, you will accrue $16,636.81 in interest on a $28,400 loan

$28,400 + $16,636.81 = $45,036.81 (monthly loan payment of $375.31)

Debt Isn't…

…your only

option

Page 8: College, Quicker

The Better Way Graduate From College

QuickerAt age 20, I graduated summa cum laude with a bachelor of arts in business administration. By only attending college for two years, I saved nearly $60,000 and left school debt-free!

Page 9: College, Quicker

College, Quicker introduces 24 different strategies called fast-track opportunities

Many of these fast-track opportunities help students earn credits much faster and much cheaper

By completing one or more of them, you too can earn your diploma sooner than the standard four years

Your Path to an Early Graduation

Page 10: College, Quicker

Designed for high school juniors and seniors

Up to two year program which allows a high school student to take actual college classes and earn both high school and college credit for them

Courses are taught by college professors at two-year community colleges and traditional four-year colleges and universities

Tuition is entirely free (only pay for books and fees)

Students can earn up to 60 semester credits (90 quarter credits)

Dual Enrollment

…your only

option

Page 11: College, Quicker

Bottom LineYou can potentially graduate 12th grade with a high school diploma and an associate's degree--and all for around a few hundred dollars

Page 12: College, Quicker

Designed for college students, particularly freshmen and sophomores

90- to 120-minute Internet-based exams which measure a student's knowledge on one of over 30 college-level subject areas, and recommend college credit if he or she reaches the minimum score

Exams are offered at over 1,800 testing centers across the U.S. and abroad

$80 plus a small administration fee of around $10 to $20

Students can earn between 3 and 12 credits per exam

CLEP Exams

Page 13: College, Quicker

Bottom LineYou can potentially test out of a year or more of school--and all for around $1000

Page 14: College, Quicker

Designed for adult learners, particularly those with at least 5 to 10 years of life experience after high school

Roughly 10- to 20-page typewritten document which details a student's college-level learning gained through his or her work, volunteer, military, and travel experiences

Portfolio(s) is written and organized outside of classes (portfolio development course is completed on campus)

Possibly course tuition and other fees, including but not limited to an evaluation fee and a fee per awarded credit

Students commonly receive between 12 and 18 credits for one or more portfolios

Prior Learning Portfolio

Page 15: College, Quicker

Bottom LineYou can potentially receive a semester or more of credit for your prior learning--and all for around a few thousand dollars

Page 16: College, Quicker

1. http://trends.collegeboard.org/college-pricing/figures-tables/tuition-fees-room-board-time-1974-75-2014-15-selected-years

2. http://trends.collegeboard.org/college-pricing/figures-tables/tuition-fees-room-board-time-1974-75-2014-15-selected-years

3. http://www.forbes.com/sites/steveodland/2012/03/24/college-costs-are-soaring/

4. http://www.bloomberg.com/news/articles/2012-08-15/cost-of-college-degree-in-u-s-soars-12-fold-chart-of-the-day

5. http://www.cnbc.com/id/47565202

6. http://news.salliemae.com/files/doc_library/file/HowAmericaPaysforCollege2015FNL.pdf

7. http://news.salliemae.com/files/doc_library/file/HowAmericaPaysforCollege2015FNL.pdf

8. http://www.businessinsider.com/most-expensive-college-in-every-state-map-2015-8#ixzz3jDQh3lKi

9. https://www.hmc.edu/admission/afford/cost-of-attendance/

10. http://ticas.org/sites/default/files/legacy/files/pub/classof2013.pdf

Resources

Page 17: College, Quicker

QUESTIONS?