Worried about the staggering price tag of a college degree? Here are two reassuring words: tuition-free.
Tuition-free? Does that even exist?
Yes — it’s possible, if you make the right moves.
We started thinking about tuition-free college after Princeton University recently revealed that it will provide free tuition for students whose parents earn under $100,000 annually. And when Fidelity Investments announced plans to fund college degrees for many of its 18,000 employees, including entry-level customer service representatives, it got us thinking more about employer-funded education.
That’s great — if you happen to be employed by Fidelity, or if you (or your child) can secure a spot at Princeton. But let’s be honest: Princeton admits only about five out of every 100 applicants, so getting in is no small feat.
Still, if free college is your goal, we researched realistic paths to making it happen. There are a few practical ways you can attend college with little to no tuition expense.
Below we’ll explore whether these strategies might suit you, and we’ll share additional options to reduce college costs.
The Rising Price of a College Education
Once upon a time, students could work part-time and get through college without significant debt.
That was back in the mid-1980s, when tuition wasn’t yet sky-high.
Sadly, college costs have climbed faster than inflation nearly every year for decades. The increase has been relentless, and today about 46 million Americans carry roughly $1.75 trillion in student loan debt.
An analysis by Savinly found the average cost of a four-year degree at a public college has swelled to over $80,000 — up around 130% since 1985.
Do you have $80,000 just sitting around? No, neither do we.
Ways to Attend College for Free (or Nearly Free)
Despite that tough financial landscape, there are approaches that can let you earn a degree without drowning in debt. Here are three practical routes toward tuition-free college.
Work for an Employer That Pays for School
One path to a tuition-free degree is employment with a company that covers college costs.
We located more than a dozen employers that will fund higher education, such as Amazon, Boeing, Chipotle, Disney, Papa John’s, Starbucks, T-Mobile, Taco Bell, Target, Tyson Foods, Verizon and Walmart.
More commonly, employers provide tuition assistance that reimburses or covers a capped yearly amount toward degrees at community colleges, technical schools or four-year institutions. Many firms partner with selected schools — some brick-and-mortar, some online — so your degree options may be limited to their partners.
In today’s competitive labor market, tuition assistance is becoming a more common employee perk. Companies are using education benefits to attract and retain talent.
EdAssist, a tuition program manager, reported a 33% rise in 2022 in employers offering no-cost degree programs. This group includes companies like Citi, McDonald’s, Raytheon Technologies and Synchrony Financial.
Begin at a Community College
Starting at a community college for the first two years before transferring to a four-year public university is an excellent way to cut costs. This strategy can reduce the price of a bachelor’s degree by more than $14,000 in many cases.
For even greater savings, some community colleges in certain states are completely tuition-free. Nearly 30 states provide tuition-free community college for residents who meet eligibility requirements. Keep in mind you’ll still be responsible for books, supplies, housing and other expenses.
States offering such programs include California, Indiana, Kentucky, New York and Tennessee.
Maine recently joined this trend, covering tuition and fees for recent state high school graduates to attend any of its seven community colleges. Florida’s Bright Futures program even pays full in-state tuition for high-performing students.
Program details and eligibility requirements differ by state (a web search will help). But in these states it may be possible to earn an associate degree — or even work toward a bachelor’s — without paying tuition.
Take Advantage of Senior Benefits
It’s true: older adults can often attend college at reduced cost or even for free across all 50 states.
People are living longer and many retirees want to stay mentally active or to gain new skills to remain competitive in the workforce.
Returning to school can be an excellent option. Many colleges and universities offer discounted or complimentary courses for seniors (typically age 60 and up, though policies vary).
We found at least one low-cost or free option in every state.
Additional Ways to Cut Tuition Costs
Even if you don’t qualify for fully free college, here are dependable methods to lower what you’ll pay.
- Every prospective student should complete the FAFSA to determine eligibility for federal aid.
- Scholarships are another key resource for reducing costs. There are numerous awards aimed at adult learners. Also check with your college for institution-specific scholarships.
- As noted earlier, beginning at a community college before transferring to a four-year public university is a tried-and-true cost-saving tactic. There are other strategies to finance college without taking on student loan debt.
So, is tuition-free college a real possibility? Or at least a much more affordable option?
Yes — it can be.
Jordan Ellis ( [email protected] ) is a senior writer at Savinly.
