student with books

Easing the Cost of Your Child’s Education

 

Don’t face your financial fears alone. There are resources and organisations available to help you recover from the cost of your child’s higher education.

 
By: Elaine McPartland

Sending your kids off to university already comes with a high price tag. Between the tuition expenses, housing, food accommodations, and fees, it may seem like you’re plunging into a death-trap of debt head first. What’s even more frightening is that you’ll likely be faced with higher bills when tuition increases take place. So what’s the best way to safeguard the funds you have left? Looking to erase some of the debt that accompanies higher education? Check out our useful suggestions.

Sell Back Books

If your student has old textbooks lying around their room, it’s best to sell them as soon as possible. Each semester, publishing companies come out with new editions of their most popular textbooks and when they do the older editions lose value. The best way to get the most cash out of those textbooks is to sell them shortly before the beginning of the new semester. Another tactic is to have your child talk amongst their friends to see who plans to take the class requiring that book. In which case you could sell the textbook to them or barter in exchange for a book that your child needs. By trading books, it’ll save you the costs later on. Online websites are also useful for selling back books in a jiffy.Zulu allows you to buy and sell textbooks online with the security of PayPal. The site claims to work directly with other students so you have greater control over the price.

Seek Professional Help

Debt is nothing to be ashamed of. What is embarrassing is not taking control of your financial future or responsibility for your spending. Sometimes the best solution is to seek professional help. Whether it’s through a credit counsellor, a debt management program, or a consolidation organisation the first step is always that hardest. The main focus of these companies is debt consolidation and counselling. When you enrol with them, you’ll gain instant access to trained professionals who are dedicated to alleviating your financial burdens. They can even customise a budget to fit your needs and take into consideration your monthly cash inflows and outflows.

Encourage Employment

There’s nothing wrong with asking your child to contribute to their education. Whether it’s asking them to work part-time or perform side jobs here and there; every bit counts. There are plenty of opportunities on and off campus for a student to make money. Most universities even have organisation specifically to put students in contact with employers.

Get an Internship

Another option is getting an internship. Usually companies will hire students nearing the end of their studies and pay them a decent hourly wage. The real benefit is the possibility for the student to earn school credit. If your student can land an internship it’ll be a win-win for both parties. They’ll be able to earn credit for school and help alleviate some of the financial pressure. Internwise.co.uk connects employers with talented students and graduates in the UK. They feature positions in almost every field ranging from finance to engineering.

You don’t have to face your financial fears alone. There are resources and organisations available to help you recover from the cost of higher education. Consider calling a consolidation company, selling used textbooks, or asking you child to contribute financially.

Photo: CollegeDegree360