Get Your Degree in 4 Years or the Next Year is Free

What's Hot

2 Types of Black Marks Might Vanish From Your Credit File SoonBorrow

6 Ways the Obamacare Overhaul Might Impact Your WalletInsurance

7 Dumb and Costly Moves Homebuyers MakeBorrow

This Free Software Brings Old Laptops Back to LifeMore

Obamacare Replacement Plan Gets ‘F’ Rating from Consumer ReportsFamily

Beware These 12 Common Money MistakesCredit & Debt

21 Restaurants Offering Free Food Right NowSaving Money

17 Ways to Have More Fun for Less MoneySave

House Hunters: Beware of These 6 Mortgage MistakesBorrow

30 Household Uses for Baby OilSave

25 Ways to Spend Less on FoodMore

Nearly Half of Heart-Related Deaths Linked to These 10 Foods and IngredientsFamily

5 Surprising Benefits of Exercising Outdoors in WinterFamily

10 Ways to Save When You’re Making Minimum WageSave

Boost Your Credit Score Fast With These 7 MovesCredit & Debt

7 Painless Ways to Pay Off Your Mortgage Years EarlierBorrow

The Most Sinful City in the U.S. Is … (Hint: It’s Not Vegas)Family

The True Cost of Bad CreditCredit & Debt

10 Companies With the Best 401(k) PlansGrow

This Scam Now Tops ID Theft as the No. 2 Consumer ComplaintFamily

6 Stores With Awesome Reward ProgramsFamily

6 Ways to Save More at Lowe’s and The Home DepotSave

6 Healthful Treats for Your DogFamily

New Study Ranks the Best States in the U.S.Family

Thousands of Millionaires Moving to 1 Country — and Leaving AnotherGrow

Strapped for College Costs? How to Get the Most From FAFSABorrow

6 Overlooked Ways to Save at Chick-fil-AFamily

Ask Stacy: What’s the Fastest Way to Pay Off My Mortgage?Borrow

Where to Sell Your Stuff for Top DollarAround The House

8 Ways to Get a Good Price on a Shiny New AutoCars

Ask Stacy: How Do I Start Over?Credit & Debt

Secret Cell Plans: Savings Verizon, AT&T, T-Mobile and Sprint Don’t Want You to Know AboutFamily

30 Awesome Things to Do in RetirementCollege

14 Super Smart Ways to Save on TravelSave

The Rich Prefer Modest Cars — Should You Join Them?Cars

You’ll Soon Pay More to Shop at CostcoSave

10 Ways to Save When Your Teen Starts DrivingFamily

A growing number of colleges are offering fifth year tuition-free programs. Find out how the programs work and which schools offer them.

I earned my bachelor’s degree in four years back in 2001. It seems I am in the minority.

The latest college graduation data available reveals that while 52.8 percent of students at private four-year colleges get their degrees in four years, just 33.5 percent of students at public four-year colleges graduate in four years.

The trend toward an extra year can be expensive, and some colleges are trying to help students out by offering them a deal: Earn your degree in four years, or the fifth year of college is tuition-free, CNBC reports.

Beginning this fall, the University of Evansville — a private college in Indiana — is offering a fifth year tuition-free guarantee to help students “afford a quality education that will lead to a quality life.”

CNBC says “several other schools” offer similar programs in an effort to get students graduated.

Tom Kazee, University of Evansville president, told CNBC that students have to fulfill specific requirements to remain eligible for the fifth year tuition-free guarantee, including taking a full course load each semester, passing all their classes and working with an academic adviser.

Other colleges — such as the University of Rochester, Clark University, Lehigh University, the University of Miami and Carnegie Melon University, among others — offer fifth year tuition-free programs, but those students have to complete their undergraduate degree requirements before they begin their fifth year.

A NerdWallet report says taking six years or more to earn a four-year degree can cost students $300,000 in tuition, student loan interest and missed income and retirement savings.

What do you think of the fifth year tuition-free programs offered by some colleges? Share your comments below or on our Facebook page.

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!


Read Next: 8 Ways to Get Your FICO Score for Free

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 2,001 more deals!