There are really only three levers available for tuition expenses.
- Increase your income
- Decrease your expenses
- Lower the cost of the tuition
For example, increasing your income could include something as complex as changing your job. Or it could be a simple as changing paycheck deductions.
And decreasing expenses might involve lowering housing expenses by moving. An easier move is to switch family vacations from expensive air travel to local day trips.
Finally, lowering the cost of tuition can might forgoing a top pick school for a lower cost institution. Or it could be as simple as obtaining financial aide.
Consider All Three Tuition Levers
There are many options to help pay for tuition expenses. For example, you can save 100% on many expenses, use a 529, select a different school in the DMV or get a scholarship.
Be sure you have investigated options in all three categories as a combination of them might be enough to cover tuition expenses.
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