Let’s Do The Math! How Many Hours of Work Can Cover Tuition Costs?

Pennygem

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.

Transcript

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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