{"id":7812,"date":"2024-11-13T08:47:18","date_gmt":"2024-11-13T08:47:18","guid":{"rendered":"https:\/\/finderica.com\/how-a-community-college-transfer-could-save-you-15k\/"},"modified":"2024-11-13T08:47:18","modified_gmt":"2024-11-13T08:47:18","slug":"how-a-community-college-transfer-could-save-you-15k","status":"publish","type":"post","link":"https:\/\/finderica.com\/?p=7812","title":{"rendered":"How a Community College Transfer Could Save You $15K"},"content":{"rendered":"\n
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\"ScoreCard<\/p>\n

We found a way to shave more than $15,000 off your college bill. And it\u2019s as easy as 2+2 \u2014 a community college transfer.\u00a0<\/span><\/p>\n

That\u2019s when a student spends their first two years earning an associate\u2019s degree from a community college, then transferring to a university to complete their final two years and earning a bachelor\u2019s degree.\u00a0<\/span><\/p>\n

Let\u2019s look at the numbers.<\/a><\/span><\/p>\n

Including tuition and applicable fees, the cost per credit hour at an in-state four-year institution is $447, whereas a two-year community college costs $205, according to <\/span>Education Data Initiative<\/span><\/a>.<\/span><\/p>\n

So, if an average bachelor\u2019s degree requires 120 credit hours, the four-year education comes with a $53,640 price tag.\u00a0<\/span><\/p>\n

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But if you complete the first 64 hours at a community college, you\u2019ll pay $13,120 to earn an associate\u2019s degree, then $25,032 to complete your bachelor\u2019s degree at the four-year college for a total of $38,152.\u00a0<\/span><\/p>\n

That\u2019s a savings of $15,488.<\/span><\/p>\n

Considering the current American student loan debt burden <\/span>tops $1.7 trillion<\/span><\/a>, you might want to reconsider shelling out the cash to enjoy two extra years of cafeteria food and ultimate Frisbee tournaments.<\/span><\/p>\n

We used our average credit hour cost analysis to calculate your savings to help you decide whether two years at community college could be worth your time and money.<\/span><\/p>\n

4 Ways To Know if a Community College Transfer Will Help You Save Money<\/h2>\n

If you recognize these four traits about yourself before you start applying to schools, you could save thousands by starting your college career closer to home.<\/p>\n

1. You (Generally) Know What You Want to Do<\/h3>\n

You don\u2019t need to have your 10-year career trajectory outlined. However, if you have a general field of interest \u2014 fine arts vs. physics, for instance \u2014 community college can offer a good start and allow you to save money on changing majors \u2026 if you need to.<\/span><\/p>\n

Finding your focus at the community college level can also help you avoid <\/span>excess credit hour fees.<\/span><\/a> Some s<\/span>tates charge those for credit hours taken beyond the total number required to complete a degree.\u00a0<\/span><\/p>\n

And, here\u2019s the thing, If you do change your mind about your education \u2014 whether it\u2019s deciding to change majors or discovering higher education isn\u2019t for you after all \u2014 it\u2019s two years of community college costs vs. the higher university rates. And, you\u2019ll have an associate degree to show for your time.\u00a0<\/span><\/p>\n

How Much Can You Save: <\/b>You\u2019d save $15,448 by discovering higher ed wasn\u2019t for you after completing the first two years at a community college. That\u2019s opposed to spending the first two at a four-year university and realizing the same thing. <\/span><\/p>\n

2. High School Wasn\u2019t Your Best Subject<\/h3>\n

Not a star student in high school? Walking into a university\u2019s lecture hall with 300 other freshmen for your first general education class could be daunting.\u00a0<\/span><\/p>\n

And considering an estimated <\/span>29.7% of college freshmen drop out<\/span><\/a> after the first year, you wouldn\u2019t be the only student to fail a class.<\/span><\/p>\n

With their smaller class sizes, community colleges present a less intimidating introduction to collegiate coursework along with more personalized instruction.<\/span><\/p>\n

Besides helping you complete your general education requirements, an improved community college transcript can give you a second chance at getting into the four-year institution you didn\u2019t get accepted into the first time.<\/span><\/p>\n

Don\u2019t assume your past performance necessarily predicts your future success.\u00a0<\/span><\/p>\n

Community college students <\/span>graduate at equal to or higher rates<\/span><\/a> from the 100 most selective colleges when compared to students who enrolled directly from high school or those who transferred from other four-year institutions, according to a study by the Jack Kent Cooke Foundation.<\/span><\/p>\n

You\u2019ll also have additional opportunities to snag funding when you make the leap with one of these <\/span>transfer scholarships<\/span>.<\/span><\/p>\n

How Much Can You Save:<\/b> If the average school year consists of 30 credit hours, you\u2019d waste $6,150 if you dropped out after your first year of community college and $13,410 after your first year of in-state university.<\/span><\/p>\n

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3. Work-Study Won\u2019t Pay the Bills<\/h3>\n

If you need to work full time while you attend school, starting locally provides a two-fer benefit.<\/span><\/p>\n

First, community colleges afford more flexibility because they cater to non-traditional students \u2014 and because many of the professors have day jobs besides teaching. Schedules typically include night and weekend classes.<\/span><\/p>\n

Second, you can use your associate degree to command higher pay at the job you take when you go on to complete your bachelor\u2019s degree.<\/span><\/p>\n

How Much Can You Save: <\/b>By working a full-time job while completing your associate degree, you\u2019d make $110,032 on average over those two years, according to the <\/span>Bureau of Labor Statistics<\/span><\/a>. Compare that to working 10 hours per week at minimum wage ($7.25\/hour nationally) while attending the first two years at a university, which would earn you a total of $7,540. That\u2019s a difference of $102,492 over those two years. And, even if you work full time at $7.25 an hour, you\u2019d still only make $15,080 a year ($30,160 total). That\u2019s a difference of $79,872.<\/span><\/p>\n

4. You Like Your Parents (or at Least Your Town)<\/h3>\n

This is kind of a personal question. How much do you like your parents? And, perhaps just as important: How much do your parents like <\/span>you<\/span><\/i>?<\/span><\/p>\n

Living at home for the first two years after high school \u2014 whether you attend a community college or a university close enough to home for a cheap commute \u2014 can help you save on rent, utilities and even food. (Please clean up after yourself. Your parent is not your maid.)<\/span><\/p>\n

And sure, you don\u2019t get the full \u201ccampus life\u201d experience by foregoing your first two dorm years, but keep in mind the distractions \u2014 and costs \u2014 on-campus living and meal plans add to your student loan debt.<\/span><\/p>\n

How Much Can You Save: <\/b>Even if you aren\u2019t living at home, room-and-board estimates for a commuter college are $9,970, compared to $12,770 at a public four-year university, as reported in the 2023\u201324 College Board\u2019s Annual Survey of Colleges<\/span>.<\/span><\/a> So, staying close to home would save you $2,800 over two years.<\/span><\/p>\n

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Tiffany Wendeln Connors is a former staff writer at The SS. Senior multimedia producer Chris Zuppa contributed to this story.<\/i><\/p>\n

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