7 Essential Tips to Reduce College Costs

Over the last 20 years, public college tuition has rocketed nearly 180%, according to the Education Data Initiative. And that doesn’t include the cost of books, food, housing and other living expenses.

So it could cost your kids tens of thousands of dollars to get their degree. It could also mean starting adult life with debilitating debt.

Fortunately, there are workarounds to high costs and soul-sucking debt. And that’s what we’re going to talk about in today’s podcast.

As usual, host Stacy Johnson is joined by financial journalist Miranda Marquit. Listening in and sometimes contributing is producer Aaron Freeman. This week’s special guest is Brad Baldridge, one of the nation’s leading college planning experts and the founder of the website Taming the High Cost of College.

Remember, even though we sometimes talk about money and specific investments on this show, don’t take them as recommendations. Before investing in anything or making any money moves, do your own research and make your own decisions.

You can watch this episode below, or if you’d prefer to listen, you can do that with the player at the top of this article or download the episode wherever you get your podcasts:

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Don’t forget to check out our podcast page for more episodes designed to help you make the most of your money and our YouTube page for more videos.

What are some issues surrounding the cost of college?

Why is college so expensive, anyway? We discuss the realities surrounding the cost of getting a college education. It’s not just tuition but other costs as well. Let’s take a look at what you can expect when it comes to paying for college and review issues related to attending college.

First, let’s take a look at some of the best colleges—based on cost: “The 25 Best U.S. Colleges, Ranked by Cost.”
Make sure you take these “4 Critical Steps That Save Thousands on College Costs.”
If you decide to borrow money for college, here’s “What to Know About Student Loans Before You Borrow.”
President Joe Biden is helping you get some degree of loan cancelation. Check out our podcast episode on “How to Get Your Piece of the Student Loan Forgiveness Pie.”
Learn “How to Get Free Help With Your Student Loans.”

Steps to making the most of your college career

Planning ahead can make a huge difference in how much you pay for college—and whether you end up drowning in student loan debt. Our resources can help you plan ahead.

Find out about the best ways to save for college: “Ask Stacy — What’s the Best Way to Save for My Kid’s College?”
Check out this article: “How to Pay for College: 5 Strategies and Tips.”
Make use of 529 plans. We have articles about the best 529 plans in the country and states that will pay you to open a 529. Don’t know what a 529 is? We can help you with “Saturday School: 529 Plans Explained in 2 Minutes.”
Don’t forget about the FAFSA. Our guide will help you: “Strapped for College Costs? How to Get the Most From FAFSA.”
Once you finish, you might be able to get paid well and receive forgiveness. Check out these “6 Jobs That Pay Big Bucks and Might Offer Student Loan Forgiveness.”

Do you need to spend a lot on college to make good money?

Before you break your budget going to school for a long time, take a step back. You might be able to get a good job with an associate’s or bachelor’s degree—no need for a 4-year or advanced degree. There are even good jobs that don’t require a degree. Check out our articles on these career paths.

Meet this week’s guest, Brad Baldridge

Brad Baldridge is one of the nation’s leading college financial experts. He teaches families the best ways to plan, save and pay for college so they can make their children’s college dreams come true without wiping out their finances or their retirement.

For more than 20 years, he has shared his expertise and insights through his private practice, as a blogger and host of the Taming the High Cost of College Podcast, and as a presenter at numerous workshops and seminars.

Don’t listen to podcasts?

A podcast is basically a radio show you can listen to anywhere and anytime, either by downloading it to your smartphone, or by listening online. They’re awesome for learning stuff and being entertained when you’re in the car, doing chores, jogging or riding your bicycle.

You can listen to our latest podcasts here or download them to your phone from any number of places, including Apple, Spotify, RadioPublic, Stitcher and RSS.

If you haven’t listened to our podcast yet, give it a try, then subscribe. You’ll be glad you did!

About the hosts

Stacy Johnson founded Money Talks News in 1991. He’s a CPA, and he has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.

Miranda Marquit, MBA, is a financial expert, writer and speaker. She’s been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors.

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