College is often talked about as a path to higher pay and a more fulfilling career. It’s also usually considered an investment that should lead to a high post-college ROI.
But for some students with a love of learning, education isn’t a means to and end — it’s the goal itself.
“If you are borrowing to pay for college, there is a presumption that you will be able to afford to repay your student loan after graduation,” says Mark Kranowitz, publisher and vice-president of strategy for scholarship site Cappex.com.
However, if you want to continue your education because of a passion for learning, your cost considerations will likely look different. Mostly because you aren’t counting on a pay increase later to give you a return on the investment.
Here’s how to continue your education and follow your passions — on a budget.
1. Earn cheap college credits to transfer
Attending college with no clear plan of how you’re going to put a degree to good use is a waste of tuition money. Or worse, a waste of student loans.
If you don’t have a clear vision for your college career, or simply want to learn about a topic that won’t lead to great pay, get started with cheap college credits instead.
“Find colleges that accept transferable college credit and use online course providers to get the same college education at a dramatically reduced price,” says Adrian Ridner, CEO of online course provider Study.com
You can also opt to attend a local community college, where classes tend to be cheaper compared to a four-year school. Then the valuable credits you earn can later be applied to an undergraduate degree, saving you potentially thousands of dollars on tuition costs.
2. Enroll in free courses online
“Learning does not have to cost a proverbial ‘arm and a leg,” says David Levy, an editor for Edvisors. Especially when you have access to thousands of hours of free courses online.
In fact, you can gain access to class materials like quizzes, lectures and other assignments from some of the most elite college and universities worldwide thanks to Massive Open Online Courses, or MOOCs. These are usually provided through various online platforms.
“Popular platforms include EdX founded by MIT and Harvard University and Coursera which features institutions such as Stanford University, Johns Hopkins University, and Duke – to name a few,” Levy states. Both offer classes that are absolutely free to access.
Typically, these free online courses don’t grant college credit. But you can work toward a certificate or specialization, Levy says.
“Even then, the fees associated with such programs will be extremely affordable when compared to the costs of completing a degree,” adds Levy.
3. Find continuing education courses in your community
Continuing education courses are another low-cost option for exploring an area of interest. Or for gaining a specific proficiency.
“You can find a class in just about every interest under the sun – from gardening to marketing to legal studies to video editing,” Levy says.
These continuing ed classes often last a quarter to a semester and are often held throughout various locations in the community. To find these classes, check your local community college’s catalog.
Continue ed classes are perfect if you’re busy but prefer learning in person. And many are offered during evening hours or on the weekend.
The price tags for these classes usually run well below traditional classes. While you may not earn actual college credits, some programs do offer a certification program, Levy says.
4. Get a mentor
Finding a mentor can be a smart way to get valuable, real-world guidance and coaching.
“If there is something you are itching to learn or understand more fully, why not enlist the help, insights, and feedback of a trusted mentor?” Levy asks.
Often, a mentor brings experience and know-how to the table. They can also point you to the most valuable resources to invest in yourself and your career.
Or, maybe you find a mentor to help you pursue a passion, such as a writing critique partner or an experienced hiking buddy. Either way, they can help you bypass learning by trial-and-error through their own guidance. You then, in turn, can effectively apply their advice.
Just make sure there’s some give and take.
“Be willing to pay it forward,” Levy advises. You could offer your expertise in another area to your mentor. Or, try serving as a mentor to someone who’s not as far along on their learning journey.
5. Watch tutorial videos
From nailing an interview to perfecting a liquid liner cat-eye, video tutorials will teach you how to do it. YouTube alone provides millions of videos to walk you through a new process. You can also get a refresher on info you’ve already learned.
Use video tutorials to build skills and explore different ideas in a way that’s free, easy and flexible.
I recently turned to YouTube looking for ideas to secure the slumping front bumper to my borderline-beater car. The solution delivered by an amateur car enthusiast was simple but obvious (and cheap): zip ties!
6. Read an instructional book
Lastly, try picking up a book — it’s a straightforward, effective, and cheap way to learn.
I’m a big fan of visiting local libraries, too. You get access to more informational and instructional books than you could hope to read in a lifetime. Plus, librarians offer in-person help and can locate just the title to suit your educational needs.
No matter which method of learning you prefer the most, there’s a free or cheap way to access it today. Take the time to do a little digging online and you’ll come away with the most cost-effective way to receive a well-rounded education in no time.
Need a student loan?Here are our top student loan lenders of 2019!
|* The Sallie Mae partner referenced is not the creditor for these loans and is compensated by Sallie Mae for the referral of Smart Option Student Loan customers.
1 Important Disclosures for College Ave.
College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
(1)All rates shown include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.
(2)This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
(3)As certified by your school and less any other financial aid you might receive. Minimum $1,000.
Information advertised valid as of 7/1/2019. Variable interest rates may increase after consummation.
2 Important Disclosures for Earnest.
3 = Sallie Mae Disclaimer: Click here for important information. Terms, conditions and limitations apply.
4 Important Disclosures for CommonBond.
Offered terms are subject to change and state law restrictions. Loans are offered through CommonBond Lending, LLC (NMLS #1175900).
5 Important Disclosures for Citizens.
6 Important Disclosures for Suntrust.
Before applying for a private student loan, SunTrust recommends comparing all financial aid alternatives including grants, scholarships, and both federal and private student loans. To view and compare the available features of SunTrust private student loans, visit https://www.suntrust.com/loans/student-loans/private.
Certain restrictions and limitations may apply. SunTrust Bank reserves the right to change or discontinue this loan program without notice. Availability of all loan programs is subject to approval under the SunTrust credit policy and other criteria and may not be available in certain jurisdictions.
©2019 SunTrust Banks, Inc. SUNTRUST, the SunTrust logo and Custom Choice Loan are trademarks of SunTrust Banks, Inc. All rights reserved.
* Offer valid for new Custom Choice Loans for which applications are submitted for a credit decision between 12:00:00am EST on June 1, 2019 and 11:59:59pm EST on August 31, 2019. A 0.50% interest rate reduction will be included in the loan options presented to an applicant during the online application process, upon passing the initial credit review. The interest rate reduction will be applied as of the first disbursement date and will be effective for the life of the loan.
7 Important Disclosures for PNC.
Fixed Annual Percentage Rates (APRs): APRs range from 4.52% to 9.58% for a 5-year term. APRs range from 5.05% to 10.26% for a 10-year term. APRs range from 5.55% to 10.84% for a 15-year term. Fixed rates are based on the creditworthiness of the borrower and co-signer, if any. Loan Payment Example: The monthly payment per $10,000 borrowed at a fixed rate range of 5.05% APR to 10.26% APR for 10 years means you would make 120 payments which may range from $131.94 to $207.24. For the fixed rate loan, the monthly payment will remain fixed for the term of the loan. Payments may vary for other repayment term options.
Variable Annual Percentage Rates (APRs): APRs range from 4.90% to 9.92% for a 5-year term. APRs range from 5.38% to 10.57% for a 10-year term. APRs range from 5.85% to 11.11% for a 15-year term. Variable rates are based on the London Interbank Offered Rate (LIBOR) index plus a margin depending on the creditworthiness of the borrower and co-signer, if any. The LIBOR index, adjusted quarterly, is equal to the average of the one-month LIBOR rates as published in the “Money Rates” section of the Wall Street Journal on the first business day of each of the three (3) calendar months immediately preceding each quarterly adjustment date. The LIBOR index is currently 2.47%. If the index increases or decreases, your rate will increase or decrease accordingly. Loan Payment Example: The monthly payment per $10,000 borrowed at a variable rate range of 5.38% APR to 10.57% APR for 10 years means you would make 120 payments which may range from $135.93 to $212.65. For the variable rate loan, the monthly payment may increase or decrease if the interest rate increases or decreases. Payments may vary for other repayment term options.
APRs and loan payment examples are for the fully deferred repayment option for the Undergraduate & Graduate loan programs and include the 0.50% interest rate discount for automatic payments. The lowest APR is available to well qualified applicants. Your actual APR will be based on your credit qualifications, selection of fixed or variable rate option, loan program, repayment term, repayment option and whether you elect the automatic payment feature. Loan payment examples assume 30 days to first payment after the deferment period (45 months in school and 6 month grace period). Payments vary for other rates, repayment terms and repayment options.
In addition to Undergraduate and Graduate loans, PNC offers loans for Health & Medical Professions, Health Professions Residency and Bar Study. Rates may vary by loan program and are subject to change at any time. Visit pnconcampus.com for current rates, additional loan payment examples and more details about the Solution loan products.
Please note: PNC reserves the right to modify or discontinue the terms of these program at any time without notice. You are encouraged to explore all scholarship, grant and federal borrowing options before applying for a private loan. Private loans are subject to credit approval.
PNC is a registered service mark of The PNC Financial Services Group, Inc.
7 Important Disclosures for Discover.
Discover's lowest rates shown are for the undergraduate loan and include an interest-only repayment discount and a 0.25% interest rate reduction while enrolled in automatic payments.
|3.96% – 11.98%1||Undergraduate, Graduate, and Parents|
|3.37% – 10.75%*,3||Undergraduate and Graduate|
|3.35% – 11.44%2||Undergraduate and Graduate|
|3.66% – 9.64%4||Undergraduate and Graduate|
|3.36% – 11.62%5||Undergraduate and Graduate|
|3.14% – 10.68%6||Undergraduate and Graduate|
|4.90% – 11.11%6||Undergraduate and Graduate|
|3.37% – 11.87%7||Undergraduate and Graduate|