Create your very own Auto Publish News/Blog Site and Earn Passive Income in Just 4 Easy Steps
Source: The College Investor
Free Community College is currently offered to some or all students in 33 states.
With rising tuition fees and student debt, students and their parents must consider ways to reduce the overall cost of higher education.
Even if a student wants to attend a four-year university, starting at a two-year university can result in conservatively estimated five-figure savings. Students who opt not to pursue a bachelor's degree can earn a graduate degree (associate's degree) while spending less time and money than they would at a traditional public university.
However, some community colleges now even offer bachelor's degrees in order to compete with four-year schools.
Whether a student's goal is to enter the workforce as quickly as possible or to earn a bachelor's degree or more, using a community college to save money and get ahead can be a smart move. In fact, attending a two-year college may be the most accessible way to cut costs while still getting a head start on your education.
How much can community college students save?
Community college students have three financial advantages over students who attend college for all four years.
Lower tuition fees
The average cost of attending an in-state community college is $3,990, according to the College Board. That's a savings of nearly $7,200 compared to the cost of tuition at a typical public university ($11,260). Over two years, community college students save more than $14,500 in their first two years.
Lower cost of living
Both community college and university students' living expenses vary, but community college students may have more opportunities to save. Many community college students live with their parents or relatives while they are in college. Additionally, some of the “luxury expenses” associated with attending college may be reduced. For example, you may not have to pay for meals out if you can cook at home. Or you may be able to avoid expensive travel during spring break when most of your fellow students have to work just like you.
Increased opportunity to earn money
Community colleges work with many non-traditional students, including adult students who work full-time. Attending a school that is accustomed to adjusting work schedules is important if you hope to hold one or more jobs while in school. According to the Community College Research Center (CCRC), 80% of all students at a two-year college work while in school.
Of course, your circumstances may prevent you from taking advantage of all of these potential savings and earning opportunities. You may have to cover the majority of your living expenses yourself or have commitments that prevent you from working full-time.
But even the lower tuition costs help most students save over $13,000 compared to university students. Additionally, students from lower-income families may be able to cover all of their college costs with a Pell Grant or even local scholarships.
Do community colleges offer a solid education?
While most students who enter a community college plan to transfer to a four-year school after graduation, only about one-third of community college students successfully transfer within six years of starting, according to the National Student Clearinghouse Research Center. While that's a small percentage, it doesn't mean that community college provides an inferior education.
Four-year universities can boast world-class facilities and faculty. But freshmen and sophomores at these schools still focus on the basics. Most community colleges have highly qualified faculty who can prepare students for higher-level courses. In many cases, students at a two-year college receive more one-on-one instruction from a qualified professor than university students taking “stadium”-style courses.
Community college isn't just about “taking a few courses.” Your education should be high quality, and you can expect to have many excellent opportunities available to you. In fact, half of all people who ultimately earn a bachelor's degree attended a two-year school at some point in the last decade.
In addition to low-cost “bachelor's prep” education, many two-year schools offer career-oriented programs. Some community college students may discover that they want to work in the skilled trades while in school. In these cases, an associate's degree is enough to enter the workforce.
Which states offer free community colleges?
Compared to the cost of a four-year degree, community college is already very affordable. But many states make attending community college even more affordable.
There are currently 33 states with tuition-offset programs. In many cases, these grants ensure that low-income students can receive free tuition at a two-year college (when combined with other forms of financial aid).
Most of these programs (see below) use family income to determine eligibility, but some have additional requirements, such as the location of the school you will attend. And most of these programs don't require special applications. Just fill out the FAFSA form and your information will be sent to your school's financial aid office to make sure you qualify.
Note: Colorado's plan to offer free community college has been approved, but will not begin until 2025.
Community College as a High School Student
High school students have traditionally been encouraged to take AP courses to get ahead during high school, but dual enrollment at a local two-year college may be better for helping students earn high school and college credits simultaneously.
Many states offer free Post-Secondary Enrollment Options (PSEO) or other dual enrollment opportunities that allow senior students to attend high school and college simultaneously. According to the CCRC, some students at 82% of public high schools participated in dual enrollment programs.
If you are up to the academic demands of a community college, this may be the ultimate way to save money.
Transferring from a community college
Two-year college students who want to earn a bachelor's degree need to plan ahead. Each school has different transfer eligibility criteria. Students need to work with their current and future schools to maximize the likelihood of receiving course credit when transferring. This can prevent them from repeating courses and extending their time at the university.
Flagship Universities
Most public universities have explicit transfer agreements with the two-year colleges in their state. This makes it relatively easy for students to transfer to their state's “flagship university” if they are accepted there. In the University of California system, for example, 92% of transfers come from California community colleges.
If you want to transfer to a flagship school, find out about the minimum requirements for transfer during your first year at community college. You don't want to be left without the minimum requirements.
In addition, most students should consider taking honors courses and assuming leadership roles on campus to improve their chances of admission. Elite flagship schools generally have strict admissions criteria. Even prospective transfer students must consider the strength of their application during their years at a community college.
Elite private schools
Elite private schools generally accept far fewer transfer students than flagship public schools. Princeton, Harvard, and Stanford, for example, accept less than 1% of all transfer students.
As a community college student, you're at a disadvantage if you want to attend one of these schools, but you shouldn't rule them out entirely if you're an outstanding student who has an otherwise strong application. Depending on the school's rules, you may only be admitted as a freshman, but your credits may count toward matriculation.
Once you've decided on one of these elite schools, ask an admissions counselor specific questions. These counselors, along with financial aid specialists, can help you figure out if the school is a realistic (and affordable) option.
State colleges and universities
Just like flagship universities, most public colleges and universities have robust transfer programs. Three-quarters of all community college students who transfer to a four-year school transfer to a public state university.
As a transfer student, you should be able to avoid repeating courses as long as you plan ahead. Many two-year colleges offer “college prep” degrees, so take advantage of those during your one or two years of community college study. Be sure to talk to your academic advisor to get their opinion, too.
Schools specializing in transfer students
Many four-year public schools specialize in returning adult students and community college transfers. Western Governors University, for example, has a generous transfer policy so that most students do not have to repeat courses after transferring.
Working students should definitely consider public universities that specialize specifically in transfer students.
Final thoughts
Tuition costs are rising. But a community college allows many families to manage these high costs without taking on debt or sacrificing the quality of education. Students who earn a bachelor's degree do not have a “watered down” degree because they attend a community college first.
Choosing to leave school with an associate degree saves both money and proof of it. Unless you and your student have a concrete plan to avoid student loan debt, a local community college should be on your “priority list.” The significant savings make it worthwhile for almost all students.
Related: Why you should consider college as an investment
Create your very own Auto Publish News/Blog Site and Earn Passive Income in Just 4 Easy Steps
