Thrifty Thinking: Non-traditional Ways to Save for College

In a recent post, To College or Not to College, the author asks if college, with all of its rising costs, is still worth it.

I think college is worth it, as long as students are smart about keeping costs down. Graduating with tens of thousands of dollars in debt makes it hard to see the financial benefit of a degree. However, graduating from college without any debt makes the return on investment pay out sooner. Here are some things you and your student can do to keep college costs down - some of them often overlooked.

1) Scholarships and grants. There are many scholarships out there that people don't know about. When I was a senior, I spent every Thursday afternoon in my school counselor's office skimming all the new announcements she'd gotten and working on the applications. The little ones added up, and many have non-traditional requirements, like living in a certain area, going into a certain program, or even being left-handed! Of course, good grades do help with big scholarships from the college itself.
2) Post-secondary/dual enrollment/AP/IB. Minnesota has an option that allows high school students to be enrolled in college tuition-free. Other places offer dual enrollment in high school and college. Advanced Placement® and International Baccalaureate classes also allow students to take a test that often gets them college credit. CLEP testing is also an option to test out of lower-level classes.
3) Community colleges. These are very low-cost compared to private schools and are a great way to get general classes out of the way. Do your research to make sure credits will transfer to your planned institution.
4) Military. It's not for everyone, but there are military scholarships available, and educational benefits available for those who have enlisted as well.
5) College jobs. Working on-campus is convenient, and may not pay as well as other jobs, but requires less transporation and is often more flexible. Some jobs, such as being an RA or working in food service, provide a discount on housing.