I’ve mentioned the recession a few times. We’ve looked at decreases in scholarships and other financial aid options. We’ve looked at rising costs. We haven’t, though, broken it down. Let’s take a look at the situation closely.

Recap

• Tuition is going up
• Competition for need-based financial aid is rising because of the recession
• Scholarships are being cut to keep schools running
• The credit crunch is making it harder to get a loan and harder still to get all the loans you need

Tuition
Both public and private funding for universities is waning. This means that schools are having to raise tuition with one hand, while cutting budgets with the other. The result: students are getting less and paying more.

What Can You Do?
There’s always the option of setting your sights on less-expensive schools and programs. The downside here is that, well, you get what you pay for. Competition is likely to increase at lower-cost schools as more students look for a more affordable education.

On Online Education
Going online for your degree is less expensive overall. There’s no commute. There’s no parking pass to buy. You won’t have to move closer to the school. The schedule is flexible enough to allow you to work a full-time job while earning your degree. You won’t need to leave home, which means no daycare or dog-sitters. You are mere steps to your kitchen, so no brown-bagging or eating out is necessary. Apart from these less-straighforward savings, an online education often simply costs less than an on-campus education. With the ever-increasing acceptance of these degrees as legitimate, you may be able to find a better education at a lower price.