The price of a college education keeps rising, while minimum wage and the amount of hours in a day don’t. Here’s how many hours a week a student would have to work to cover their tuition and other fees. PennyGem’s Johana Restrepo has more.
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00:00 The price of a college education keeps rising while minimum wage and the amount of hours
00:08 in a day don't.
00:10 According to NerdWallet, while working part-time during school does help, it doesn't eliminate
00:15 student debt because students expect to owe about $30,000 or more.
00:20 This means that a student making minimum wage would have to work 52 hours a week, every
00:26 week to cover the cost of attendance for one year at a four-year public school.
00:31 For students, this is completely unrealistic because full-time students spend up to 45
00:37 hours a week on classes and school assignments.
00:40 The Simple Dollar recommends saving as much as you can before college and choosing an
00:45 affordable school.
00:47 Take two years of school at a community college and transfer to another school to save.
00:52 You should also fill out a FAFSA, apply for scholarships, search for grants, and borrow
00:57 federal loans first because private loans usually charge more interest.
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