Young Asian woman with scribbles around head next to phone and photo of college

4 Tips to Make Your Dream School a Financial Reality

Being able to afford your dream school is an important goal if you have your heart set on a certain college. Here’s how you can make this dream a reality.

Attending your dream school can sometimes feel out of reach—especially as you’re facing the application process and the cost of college continues to rise. However, with some careful planning and hard work, you may be able to make your dream school a reality. Here’s how to make it happen.

Before applying: Make sure the school lives up to your expectations

Usually when you step foot on campus, you can tell if a school is the right fit for you or not. Maybe you thought you wanted a school with a sprawling urban campus but find yourself intimidated at the thought of a daily 30-minute commute from one building to another. Or perhaps you find yourself craving the energy of a big city instead of a cozy college town. Going on a campus visit can help you decide whether a school is the right fit before you apply. Schedule a campus tour and ask questions. If possible, try to visit the department offices of your preferred major. Some items to consider when evaluating a college on a visit include:

  • What extracurricular activities are available?
  • Do they have the academic program(s) you’re interested in?
  • What is campus life like?
  • How much does on-campus housing cost?
  • Are there internship opportunities available?
  • What does the alumni network look like?
  • Does the surrounding area have activities you enjoy?

Related: How to Tell If a College Is Right for You

4 financial tips to attend your dream school

After you visit campus and learn more about it, you’re completely convinced that this is 100% the school for you—but you’re still not sure you and your family can afford it financially. Here are four options to help make it happen.

1. Transfer from a community college

When looking at your dream school, it might feel too expensive to start out there—especially if you attend for four years. According to the College Board, the average tuition costs for four-year colleges during the 2021–­2022 academic year were:

  • $10,740 for an in-state public college
  • $27,560 for an out-of-state public college
  • $38,070 for a private nonprofit college

On the other hand, in-district community colleges average just $3,800 per academic year and only offer programs for up to two years. Instead of immediately applying to your dream school, you can complete your general education requirements and start some of your basic program credits at a community college for much less money. You can transfer to your dream school later—you just need to make sure all your credits will carry over. This may give you an admission boost as well since most schools try to recruit transfers. Additionally, if you perform well in community college, you may be eligible for scholarships especially for transfer students.

2. Find financing for out-of-state students

Once you confirm where you want to attend school, you need a plan to pay for it. One way to start is finding out if your dream school participates in a tuition exchange program. There are several Midwestern states and schools that are part of the Midwest Student Exchange Program. If you’re from one of the recognized states and your college of interest participates, you could qualify for savings of up to $7,000 per year in tuition costs. Similarly, the Western Undergraduate Exchange program claims you can save more than $10,000 per year by attending a participating school.

These types of programs reduce how much you pay in out-of-state tuition and can make your dream school more affordable, especially when combined with other strategies like applying for scholarships. Look for scholarship and aid programs aimed at out-of-state students to help you cover your costs. If it’s a private school, check into their institutional financial aid program, especially if you demonstrate financial need; some private schools offer generous financial aid packages.

Related: All About Tuition Reciprocity at Out–of–State Universities

3. Consider future job options nearby

While researching your dream school, don’t forget to look into nearby job options for while you’re in school like federal work-study or part-time jobs. Your financial aid package might include work-study, which allows you to get paid a set amount for working approved jobs often offered through your school. If there are other job options on campus nearby, you may be able to work part-time while earning your degree.

Additionally, you can find out if there are nearby employers that offer tuition reimbursement programs. These programs provide financial help while you attend school, resulting in less overall student debt. Finally, if you’re thinking about living in the area where your dream school is located, research postgrad job prospects nearby. Are there good-paying jobs in industries related to your program of study? Will you be able to make a high-enough salary to repay any student loans you have?

4. Plan for student loan forgiveness and grants

Depending on your program of study and future career, you may be eligible for student loan forgiveness or take advantage of different grants designed to help you repay your loans. Some of these programs include:

  • Public Service Loan Forgiveness (PSLF): This program is designed to help those who take public service or nonprofit jobs. If you plan to work in a qualifying job for the government or in a public school, you can have your remaining balance forgiven after making 120 qualifying monthly payments.
  • Teacher Loan Forgiveness: For those who want to teach, it’s possible to get up to $17,500 in loan forgiveness after five years of teaching in an area of need.
  • National Health Service Corps: Depending on the health care profession you choose, whether you work full-time or part-time, and how long you dedicate to service in an area of need, you could get up to $100,000 in loan forgiveness.
  • John R. Justice Loan Repayment Program: As a public defender or prosecutor for the state, you may be able to receive up to $10,000 a year for six years. This is one way those who attend their dream law school can pay off student loan debt.

Related: 8 Ways to Pay Off Student Loans Faster and Save Money

By planning ahead, you can figure out a strategy (or combination of strategies) that will allow you to attend your dream school financially with the goal of not being overwhelmed by student loan debt. Finances can feel like the most stressful part of the college process, but remember that at the end of the road is an incredible academic experience and bright future.

To really make your dreams a reality, we have all the financial tips and tricks you could possibly need with Our Best Advice to Help You Pay for a College Education.

Like what you’re reading?

Join the CollegeXpress community! Create a free account and we’ll notify you about new articles, scholarship deadlines, and more.

Join Now

Tags:

About Maxime Croll

Maxime Croll is a Senior Director and Insurance Product Manager at ValuePenguin.com. Previously, she was the Director of Product Marketing at CoverWallet—a commercial insurance start-up—and also helped launch NerdWallet's personal insurance business. Maxime has contributed insurance insights and analysis to Forbes, USA Today, The Hill, and many other publications.

 

Join our community of
over 5 million students!

CollegeXpress has everything you need to simplify your college search, get connected to schools, and find your perfect fit.

Join CollegeXpress

College Quick Connect

Swipe right to request information.
Swipe left if you're not interested.

Dominican University of California

San Rafael, CA


Monica

Monica

High School Class of 2023

Being a sophomore in high school, I never really worried about college. I thought it wasn't important to worry about until senior year. Through this program opportunity I came across, I realized how important it is to start looking at colleges early and start planning ahead. CollegeXpress has opened my eyes to what colleges require, what colleges are near me, and what they offer. The daily emails I get from CollegeXpress really help me look at the different options I have and what colleges I fit into. Without this website, I would not be taking the time out of my day to worry about what my future will be nor what opportunities I have. I could not be more grateful for such an amazing and useful website. It's thanks to CollegeXpress that not only me but my family now know how much potential I have in to getting into these colleges/universities that we thought were out of my reach.

Kyla McClain

Kyla McClain

High School Class of 2024

I found CollegeXpress when you partnered with Bold.org for a scholarship. I found your website, put my information in, and got connected. I only wanted to stay in North Carolina [for college] and not move far from home, but you all opened a door up for me. I started researching colleges you suggested for me. On your social media platforms, you also give really good test-taking tips that I used and suggested others to do the same. It helped me a lot on my exams, so thank you.

Rose Kearsley

Rose Kearsley

High School Class of 2021

CollegeXpress has seriously helped me out a lot, especially when it comes to scholarships and studying for tests like the ACT. I also really love the financial help. It’s a little harder to pay because I live with a family of eight, so any help is appreciated. Thanks for this opportunity!

Jasmine

Jasmine

High School Class of 2021

CollegeXpress helped me find the school I am currently attending by consistently sending me emails of other schools. This allowed me to do research on other schools as well as the one I am in now!

Lydia Huth

Lydia Huth

Student, Campbell University; CollegeXpress Student Writer

I discovered CollegeXpress while embarking on my college search journey as an excited—but scared and way confused—high schooler without a counselor or college-bound sibling to give me advice. Let me tell you, I’m so glad that I stumbled on this community! CollegeXpress helped me find potential colleges and keep application deadlines straight. It gave me a great list of scholarships, and the blogs and emails made me feel like I wasn’t going it alone. Almost three years later and with freshman year of college down, I still love the CollegeXpress vibe so much that I’m writing for them. I’d recommend this site to anyone!