This is the FINAL article in a three-part series. The first two articles can be found on our website by clicking here.
3. START EARLY
Work isn’t the only thing that’s good to start early. Kids these days can even start earning college credits early. Yes, you can earn college credits while still in high school and it is usually a lot cheaper.
a. ADVANCED PLACEMENT EXAMS
When I was in high school I took three Advanced Placement (AP) classes and passed the exams, which gave me a full semester’s worth of college credit. Based on the average costs for the 2021-2022 school year, those three high school classes would be worth $5,370 at an in-state public school and $19,035 at a private school. You can check with your local high school to see what AP courses they offer.
b. DUAL ENROLLMENT
Some states and many individual colleges also allow eligible students to take college courses for free while they are still in high school. In the state of Washington, where I live, the program is called Running Start. I know of people who have completed the first two years of college while still in high school, with the state paying for it. That is worth $21,480 at an in-state public school and $76,140 at a private school. Imagine getting half of a degree for free, much less being two years ahead! For individual schools offering dual enrollment, check out the lists on this website. Another great option is the Arizona State University Universal Learner program where anyone (regardless of age) can try out college courses for $25 each. If it goes well and you like your grade, you can then pay $400 for the college credit. If your child wasn’t ready and it didn’t work out, you’re only out $25 and there is nothing on their permanent record.
c. CREDIT-BY-EXAM
But what if your local high school doesn’t offer AP classes and dual enrollment isn’t a good fit? If you and your child are willing to take it upon yourselves, you can still earn college credit while in high school through credit-by-exam (CBE). With CBEs, the student studies independently then takes an exam for college credit. The main exam providers are the College Board’s College Level Examination Program (CLEP) and DSST, and the exams usually cost around $100. They aren’t free, but they are a lot cheaper than traditional college courses and there is no minimum age requirement. With some extra effort, you can augment what your child is already learning in class and they can earn college credit for it.
With a little bit of thought, time, and effort, you can prepare your kids for a future without debilitating student loan debt. If you take the time to discover why you want your kids to go to college, teach them to work hard, and have them begin earning college credits early, they will have both a more purposeful and more affordable experience. You may not have room in your budget to save for college, but there is a lot you can do on the front end to limit the cost of college for your family!
Article by Amy Monday – The Pastor’s Wallet
This is the final article in a three-part series. All articles in the series can be found on our website as of their release date.
Photo by Nathan Dumlao on Unsplash