Monday, July 24, 2017

Learn for Less: 4 Creative Education Options for Frugal Families



Schooling is very important. For the youth to succeed as adults, they must receive a quality education. However, education can sometimes be extremely expensive. College Data reports that the average cost for a year of school at a private college in 2017 was $33,480. 

Unfortunately, it’s not just college that can be expensive. Costs incurred during elementary school and high school can also be a significant financial burden on a family. 

Thankfully, there are ways to save. Below are four creative education options for frugal families you should consider.

Be Strategic about School Supplies


One of the biggest school related expenses, especially for students in high school and elementary school, is the cost of school supplies. An article by neaToday reports that the cost of school supplies on average can be as high as $200 for elementary school students and as high as $375 for high school students. 

However, these costs can be brought down significantly if parents use some strategy while shopping for school supplies. First, try to buy early. If you buy school supplies for the next year well into the current school year when those supplies go on sale, you could slash the cost spent by a very large percentage. 

Also be careful about the stores you choose to shop at. Dollar stores may have better deals than larger retailers. It also doesn’t hurt to save left over school supplies for the next year.

Online Schools


The advent of the internet has completely transformed society. This is no different for the education system. The internet has in fact allowed education to reach far more students than what was previously possible. 

As you should well know, the cost of a child’s college education can be one of the largest expenses a family has to pay for. However, attending an online school can bring down that expense significantly. 

Not only is tuition generally much lower, the student will also save on expenses related to commuting or living on campus. While online school is usually thought of as something implemented by college students, elementary and high school students that are homeschooled can attend online schools as well. This may create significant cost savings compared to attending a private or even a public school.

Be Your Children’s Tutor


Some children struggle with school. While you would assume the school day would be enough to make sure they are up to speed on math, English, science and other subjects, that is not always the case. 

Often, tutoring is required to make up the difference for many struggling students. Unfortunately, tutoring services can also be exorbitantly expensive. According to Angie's List, a tutor can charge as much as $85 an hour. One obvious solution is to tutor your children on your own. 

This will of course require more work on your part, but it’s also extra time to bond with your kids. Make sure, however, you are actually helping them to learn. Completing their work for them or providing them with the answers is not the same thing as tutoring.

Prepaid College Tuition


One cost saving measure you may have not heard of is prepaid college tuition. US News reported that college tuition grew by 80 percent between 2003 and 2013. 

Prepaid college tuition allows you to lock in current rates now so you don’t have to pay for the eventual increase in the future. Investigate whether or not prepaid tuition is available in your state.

Education for children can certainly be expensive. However, it’s an absolute necessity for a person’s long term future. Try to find ways to lower the costs to help ensure that your children receive the quality education they deserve.


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