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Millionaire Kids Ezine, Issue #009 -- How to Get a $120,000 Education for Half Price
September 17, 2007

How to Get a $120,000 Educations for Half Price - Even If You Don't Qualify for Financial Aid

A typical private college education can run in excess of $120,000. But your child CAN get the same quality education- or even better - for far less.

For instance, the Student Guide Series America's 100 Best College Buys lists universities around the country that have above-average academic programs and below-average costs.

All the colleges profiled in the guide have entering freshmen classes with SAT and high school grade point averages above the national averages, yet tuition and boarding costs below the national averages for private and public schools.

Among the "Best Buys" are such well known schools as Rutgers, The University of Florida, Brigham Young, Auburn, James Madison, Baylor and Texas A&M. The average costs of tuition and room & board for these seven schools was less than $12,000 total for in-state students.

You may find a few of these best buys in your own state, and if your children want to attend one that's out of state, they can qualify as in-state residents for the purposes of lower tuition after establishing residency in that state for one year.

What's more...

The Student's Guide also tells which of these schools are highly rated (academically and by employers) in specific fields - from engineering to business. (U.S. News and World Report and other national magazines also do similar yearly rankings of cost and quality)

If you target one of these "better buy" schools in the major your children are most interested in, you can save tens of thousands of dollars.

But here's more ways to slash costs...

Another major way to keep costs down is to take one year’s worth of credits at a local community college, but still getting the degree from the college of your choice.

Most universities require freshmen to take general courses such as math, English, and psychology to name a few.

Find out from the admissions counselor of the college of your choice on which courses they will accept for transfer and take these lower cost general courses at the community college.

I did this when I was attending college and saved thousands of dollars in tuition.

Books are a major part of tuition costs. Always buy used books if available to cut costs in half.

Or even better, some universities are starting to offer FREE online E-books. This is a great idea that is slowly becoming more popular.

Take advantage of all merit scholarships and grants, whether it is for academic, sports, or civic accomplishments.

Research and apply for any and all grants you think your child qualifies for. A great online resource is

It can pay thousands for your efforts. Federal grants, such as the Pell Grant, are generally limited to families with very low incomes.

But state educational grants often are not limited to income.

A partial sports scholarship can save thousands of dollars a year in tuition.

Academically, a B+ high school average with 1200 SAT scores can earn very generous college-specific, merit-based awards at a college in the 75th percentile.

Often Overlooked is Exceptional Community Service

Exceptional community service can also help you achieve financial awards. Eagle scouts, for example, are eligible for free admission to U.S. military academies, as long as they meet minimum academic standards.

There are also grants through religious organizations, such as the Knights of Columbus.

Work Study Programs

Your child can enroll in work-study or co-op study programs. There are currently over 300 universities with large co-op programs.

Some of these include American University in Washington, DC, Drexel University in Philadelphia, Georgia Institute of Technology, Purdue University in Cincinnati, Northwest University in Boston, and University of St. Thomas in St. Paul, Minnesota.

My husband was a part of the co-op program at the University of St. Thomas and saved thousands in tuition. This is also an excellent way to gain valuable work experience in their chosen field. The employer my husband worked for, 3M, hired him on permanently after graduation.

The army or ROTC also offers scholarships in exchange for service in the corps after graduation.

And Lastly...

Your child can always take advantage of low-rate, tax-advantage loans to help finance the college bill.

The federal government Perkins Loans program offers undergraduate students loans of up to $3,000 a year.

Another federal educational loan program, Stafford Loans, comes in two varieties.

The first, is needs-based, it has the government pay your interest for you while you are in school, and you can borrow up to approximately $18,000 over four years.

With the second kind, you incur interest from the moment each loan installment is disbursed, but any family can qualify regardless of income levels, and you can borrow up to $35,000 over four years.

You can find more college savings tips here...

Random Acts of Tithing

Put up a sign on your church bulletin board or at the grocery store offering to change the light bulbs for senior citizens in your neighborhood.

You'll be amazed at how many seniors need help with this simple task...especially if they have arthritis or are not very mobile.

It's an easy way to help out and make a difference!

Profitable Home Business Idea:

If you live out in the country like we do, how about offering horse or dog training?

My 16 year old daughter Rachel just recently put this ad in our free Shopper press:

Got a Problem Horse? Board and Training - $150/month. Call Rachel at 555-5555

She already has one horse in training and received two more calls over the week-end.

I bet this would work for dogs as well...and you wouldn't necessarily have to live in the country either. For more profitable niche business ideas, check this website...

Fast Ways For Little Kids to Make Extra Cash

Out of habit, I always check the bulletin board at our grocery store to see what services are offered and also what's for sale.

Last week, I saw a really interesting posting for a "Give Your Pet a Bath" poster. It was a twelve year old girl offering to pick up and drop off your dog for a bath and brushing.

I gave her a call to see how business was going...and she said she's booked for the next 2 WEEKS!

Sounds like a great idea - and profitable too!

How much can a little soap and water cost to give "Buffy" a bath?

It's Good to Know...Financial Terms For Kids

1) Advanced placement credit: Where you take a class in high school for free and get college credit

2) SAT - Standard Achievement Test - a test that you take when you're a junior in High School that colleges use to see how well you've learned

3) Tuition - How much a college charges per year for you to go to college.

Cheap Family Fun

About once a month, we have a Sunday family fun night of ordering pizzas, pop, and renting a movie.

My husband has been on a kick of renting classic movies, and yesterday we watched "The Invisible Man".

The kids thought it was sort of boring...but next time it will be their choice.

We always make Sundays a day for family and God. We start off by going to Mass together and then having Dad make brunch.

Then we do something fun and inexpensive pizza and a movie, and we don't do chores, projects, or laundry!

It's truly a day of rest and relaxation.

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