WEBVTT - Cutting College Costs with $Pro Cody Berman #070 0:00:00.080 --> 0:00:02.920 Welcome to How to Money. I'm Joel and I'm Att, 0:00:03.160 --> 0:00:07.520 and today we're discussing cunning college costs with money pro 0:00:07.680 --> 0:00:29.200 Cody Burman. Yeah, I'm excited to talk about getting the 0:00:29.280 --> 0:00:32.200 cost of college down. Joel. We recently had on Megan 0:00:32.280 --> 0:00:35.160 as a money pro. We talked about the student loans 0:00:35.200 --> 0:00:37.720 and the effect that that's having on our country and 0:00:37.760 --> 0:00:40.120 on individuals, and so yeah, going through some of these 0:00:40.159 --> 0:00:42.279 tips that Cody is bringing to the table, I think 0:00:42.280 --> 0:00:44.920 are gonna help a lot of folks. I completely agree, 0:00:45.000 --> 0:00:47.120 my friend. But before we get to that, I wanted 0:00:47.159 --> 0:00:49.800 to mention a quick listener email that we got recently 0:00:49.920 --> 0:00:54.320 from James. And James said, hey, guys, recently after listening 0:00:54.320 --> 0:00:57.000 to your podcast where you talked about how Wells Fargo sucks, 0:00:57.000 --> 0:00:58.680 which we've done a couple of times, I think I 0:00:58.760 --> 0:01:01.280 switched banks for my savings. At Wells Fargo, my money 0:01:01.480 --> 0:01:03.920 wasn't doing anything for me except an interest rate of 0:01:04.040 --> 0:01:07.319 point oh one percent. Now I'm at Ally Bank, where 0:01:07.360 --> 0:01:09.800 I get two point two percent interest in one month. 0:01:09.840 --> 0:01:12.280 At Ally, I received more an interest than I could 0:01:12.360 --> 0:01:16.880 at Wells Fargo in almost ten years. I just love 0:01:16.959 --> 0:01:19.680 the comparison. I love I love the James let us 0:01:19.680 --> 0:01:22.000 know that he took action, and also just love that. 0:01:22.200 --> 0:01:24.120 I mean ten years think about that. That that's like 0:01:24.360 --> 0:01:27.959 such a distinct market difference. And if you will just 0:01:28.040 --> 0:01:30.039 change your banks to a little bit of a better bank, 0:01:30.280 --> 0:01:33.240 you're with Ally. I'm with a few different banks, as 0:01:33.240 --> 0:01:35.440 I mentioned in our Facebook group and just mentioned on 0:01:35.480 --> 0:01:38.600 the show. I'm with Capital One, I'm with Discover, and 0:01:38.640 --> 0:01:40.559 I'm with c I T. There's so many better banks, 0:01:40.560 --> 0:01:44.240 not only customer service wise, but rate wise as well. Nice. Yeah, man, 0:01:44.280 --> 0:01:46.360 I love that James is with Ally like that. Yeah, 0:01:46.400 --> 0:01:47.800 that is one of my favorites. I've been with him 0:01:47.840 --> 0:01:49.760 for quite a while now. And you mentioned C I T. 0:01:50.240 --> 0:01:52.320 You know, you wrote an article about how you switched 0:01:52.360 --> 0:01:54.520 over to c I T. They've got awesome rates right now. 0:01:54.640 --> 0:01:56.200 If ils want to find that article, just go to 0:01:56.280 --> 0:01:59.000 how the money dot com slash c I T and 0:01:59.040 --> 0:02:01.520 there you highlighted scymically the difference in the rate, Like 0:02:01.600 --> 0:02:03.760 right now we're at two point four five, and that's 0:02:03.800 --> 0:02:06.200 just massive. That's just a ton of money plus all 0:02:06.200 --> 0:02:07.960 the other awesome reasons that you want to switch away 0:02:07.960 --> 0:02:10.840 from one of the big banks to an awesome competitive 0:02:11.360 --> 0:02:15.480 service oriented online bank, no doubt, my friend are let's 0:02:15.520 --> 0:02:17.680 talking about the beer that we're drinking on the show today, 0:02:18.160 --> 0:02:21.680 Brain Dead Brewing Company presents Power Shark. Is what our 0:02:21.760 --> 0:02:24.839 label says on the Crowler. From a listener Jared out 0:02:24.840 --> 0:02:28.560 in Texas, this is a triple dry hawked beer and dude, 0:02:28.560 --> 0:02:30.760 I'm really excited to dig in and just get a 0:02:30.760 --> 0:02:33.920 face full of hops. Yeah. Huge, thanks to Jared for 0:02:33.960 --> 0:02:37.120 sending this beer in. And he specifically reached out on Instagram. 0:02:37.160 --> 0:02:39.079 He yeah, slid into those d m s and send 0:02:39.120 --> 0:02:41.720 me a message. So yeah, if you aren't following how 0:02:41.760 --> 0:02:44.560 to Money pod on Instagram, be sure to check that 0:02:44.600 --> 0:02:46.560 out as well. You can see some of those behind 0:02:46.560 --> 0:02:48.519 the scenes. And we always do that time laps. I 0:02:48.560 --> 0:02:50.639 think people like that the time laps on the stories. 0:02:50.800 --> 0:02:53.120 It's kind of like an inside window into your dining 0:02:53.200 --> 0:02:55.919 room where we do the show. Right. So onto the 0:02:55.960 --> 0:02:59.480 subject at hand. Matthew, my friend cutting college costs with 0:02:59.520 --> 0:03:02.280 our money pro Cody Burman. And let's talk about Cody 0:03:02.320 --> 0:03:04.840 real quick. So he is only twenty two years old. 0:03:05.040 --> 0:03:07.760 Cody is such an interesting dude. He has already started 0:03:07.800 --> 0:03:10.720 a company that makes disc golf disc I was gonna say, 0:03:10.720 --> 0:03:12.600 not just any company, but a company that's close to 0:03:12.639 --> 0:03:15.799 your heart. Man, Oh my gosh. We recently celebrated your birthday. 0:03:15.880 --> 0:03:17.680 We went out and through some some disc golfs at 0:03:17.720 --> 0:03:20.400 a local course, and yeah, that's what Cody does. He 0:03:20.440 --> 0:03:23.480 makes disks for people that play disc golf. So I'm 0:03:23.560 --> 0:03:25.320 still honestly waiting for him to send me a couple 0:03:25.320 --> 0:03:27.880 of second trimemout, like really want to see how his 0:03:28.000 --> 0:03:30.680 discs fly. But he started, he started his own company. 0:03:31.000 --> 0:03:32.639 He feels like there's a place in the market for 0:03:32.720 --> 0:03:34.880 a new, upstart disc company, and so I think that's 0:03:34.920 --> 0:03:37.360 really cool. He's been doing that for over a year now. 0:03:37.480 --> 0:03:40.440 He just quit his corporate banking job at the age 0:03:40.480 --> 0:03:44.440 of twenty two to pursue entrepreneurship full time. He's got 0:03:44.520 --> 0:03:47.040 a website where he writes about finance, he's got a 0:03:47.200 --> 0:03:50.160 podcast where he talks about finance, and he's so involved 0:03:50.240 --> 0:03:53.360 in the financial independence community. I mean, he's he's become 0:03:53.400 --> 0:03:55.960 a staple there quickly, already at his young age. So 0:03:56.040 --> 0:03:57.839 he felt like we had to have him on the show, 0:03:58.200 --> 0:04:01.080 and specifically since he is so young and recently out 0:04:01.120 --> 0:04:02.880 of college, to kind of talk about how he was 0:04:02.920 --> 0:04:04.600 able to go to college and pay less money doing 0:04:04.640 --> 0:04:06.400 it edule And that's one of the things I love 0:04:06.400 --> 0:04:10.520 about Cody is that he has actual experience. He's been 0:04:10.600 --> 0:04:13.480 there in college not that long ago. He has found 0:04:13.520 --> 0:04:16.760 ways to reduce the expenses associated with college. And you know, 0:04:16.880 --> 0:04:19.720 that's a huge problem that people are paying so much 0:04:19.760 --> 0:04:21.960 for college. High school grads these days are choosing a 0:04:22.040 --> 0:04:25.440 school based on, you know, lots of different factors, but money, honestly, 0:04:25.960 --> 0:04:28.760 is just usually a low end consideration. And that's just 0:04:28.880 --> 0:04:31.600 because you can just borrow to go wherever you want 0:04:31.600 --> 0:04:34.920 to go, but be aware of borrowing from your future self. 0:04:35.080 --> 0:04:38.279 These payments associated with student loans can be as large 0:04:38.279 --> 0:04:40.640 as a mortgage payment on a house. So if you 0:04:40.720 --> 0:04:43.080 are in school, or maybe you're considering going back to school, 0:04:43.760 --> 0:04:46.360 or you have kids that might be going to college soon, 0:04:46.640 --> 0:04:49.040 we are gonna discuss some things to consider when it 0:04:49.120 --> 0:04:51.800 comes to cutting your college costs. Yeah, so our money 0:04:51.800 --> 0:04:54.039 Pro episodes. Here's how they work. The last two weeks 0:04:54.120 --> 0:04:56.600 we've had someone actually on in an interview style format 0:04:56.800 --> 0:04:59.200 that's not typically how Matt and I do these do 0:04:59.360 --> 0:05:02.400 these episodes. We like to invite our friends to give 0:05:02.480 --> 0:05:05.880 us five minutes of distilled wisdom on a particular topic. 0:05:06.000 --> 0:05:08.039 And so that's what we've done here. Cody has given 0:05:08.160 --> 0:05:10.760 us five minutes of awesome wisdom when it comes to 0:05:10.839 --> 0:05:13.680 cutting college costs. Matt and I have a lot of 0:05:13.760 --> 0:05:16.320 fun kind of unpacking after we bring on our money 0:05:16.400 --> 0:05:20.120 pro but let's hear Cody's five minutes first, right now. Yeah, 0:05:20.160 --> 0:05:22.320 what's up guys, and thanks for having me on. So 0:05:22.440 --> 0:05:27.040 today I'm drinking some of massachusetts finest called Mr. Boston's vodka. 0:05:27.200 --> 0:05:30.920 It is a handle and it is absolutely spectacular. So 0:05:31.360 --> 0:05:33.960 my word to describe it is polish. But what I 0:05:34.040 --> 0:05:35.720 really want to talk to you about today is how 0:05:35.800 --> 0:05:37.960 to hack college? So how can you go to college 0:05:38.000 --> 0:05:41.480 for the cheapest price possible? Now, just for some context, 0:05:41.600 --> 0:05:43.680 I'm twenty two years old, so I am fresh out 0:05:43.720 --> 0:05:46.360 of this arena. I know all the latest tips, tricks, 0:05:46.440 --> 0:05:49.240 just ways to cut money on college. And although I 0:05:49.320 --> 0:05:51.280 did pretty good at cutting my costs, I could have 0:05:51.360 --> 0:05:53.280 done a lot better if I knew all the things 0:05:53.320 --> 0:05:55.760 I knew now. So I want to start with back 0:05:55.800 --> 0:05:58.360 in high school. If you have a son, a daughter, 0:05:58.520 --> 0:06:00.640 or maybe you're someone really young listening into this podcast, 0:06:00.720 --> 0:06:03.000 good for you. If you're that person, you need to 0:06:03.040 --> 0:06:06.640 be taking advantage of AP and CLIP exams. And basically 0:06:06.760 --> 0:06:10.760 what these exams are, they're subjects specific exams. So for example, 0:06:10.800 --> 0:06:12.840 you could take AP calculus, or you could take a 0:06:12.880 --> 0:06:16.080 CLUP exam in biology, and it's all these subjects specific 0:06:16.160 --> 0:06:18.680 courses that if you pass the test with a high 0:06:18.720 --> 0:06:21.120 enough score, you can just completely opt out of that 0:06:21.200 --> 0:06:23.880 course for college. So let's just assume you go to 0:06:23.920 --> 0:06:26.200 the average college. I mean, even if you're going to 0:06:26.320 --> 0:06:29.000 a community college, you're still saving a couple grand a 0:06:29.080 --> 0:06:31.719 class by passing out of these AP and CLUP exams. 0:06:31.920 --> 0:06:34.480 So that's my number one tip. Search and find out 0:06:34.560 --> 0:06:36.960 does the school offer these AP and CLIP exams, and 0:06:37.040 --> 0:06:39.280 go take as many as you possibly can. Some of 0:06:39.320 --> 0:06:41.680 them are self study and other ones you'll be taught 0:06:41.760 --> 0:06:44.520 in class with a teacher. So the next thing I 0:06:44.560 --> 0:06:46.680 want to touch on is dual enrollment. And this is 0:06:46.760 --> 0:06:49.240 while you're either a junior or a senior in high school, 0:06:49.480 --> 0:06:52.120 you can actually enroll in college courses just with the 0:06:52.160 --> 0:06:54.480 rest of the other college students and get credit for that. 0:06:55.040 --> 0:06:57.160 So instead of taking these high school credits, instead of 0:06:57.200 --> 0:06:59.320 taking JIM for the fourth time, you can go take 0:06:59.480 --> 0:07:01.360 a college level of course and get credit for it. 0:07:01.960 --> 0:07:04.600 And this can seriously reduce your costs and just eliminate 0:07:04.640 --> 0:07:07.240 the need for all these general education courses that you 0:07:07.320 --> 0:07:09.960 might not even be that interested in. And so those 0:07:10.000 --> 0:07:11.920 are some awesome ways to get credit. But now I 0:07:11.960 --> 0:07:13.440 want to talk a little bit more about how to 0:07:13.560 --> 0:07:16.760 save money. So what was huge for me was applying 0:07:16.800 --> 0:07:20.280 to tons and tons of scholarships and grants. Now I 0:07:20.440 --> 0:07:22.880 literally applied to probably between a hundred and a hundred 0:07:22.880 --> 0:07:25.600 and twenties scholarships. You think I wrote d twenty essays, 0:07:26.160 --> 0:07:29.680 Absolutely not. Ain't nobody got time for that. So what 0:07:29.800 --> 0:07:31.760 I did was I built out a few templates, like 0:07:31.880 --> 0:07:34.960 six to eight templates. Most of these scholarship essays are 0:07:34.960 --> 0:07:36.920 going to have the same prompts or at least like 0:07:36.960 --> 0:07:39.400 along the same lines like what are your career goals? 0:07:39.480 --> 0:07:41.800 Or why are you studying this? Or you get the point. 0:07:42.080 --> 0:07:43.920 So if you can build out these templates and then 0:07:44.000 --> 0:07:46.520 make tweaks every time you have a new scholarship application, 0:07:46.960 --> 0:07:49.560 you can drastically reduce the time it takes you to 0:07:49.640 --> 0:07:51.920 apply to the scholarship, and you can apply to so 0:07:52.160 --> 0:07:54.960 many more and just by the law of large numbers, 0:07:55.280 --> 0:07:57.280 you're bound to get a scholarship or two, which could 0:07:57.280 --> 0:07:59.520 add up to thousands of dollars. And some of these 0:07:59.560 --> 0:08:02.920 scholarship so are recurring, and these scholarships don't just have 0:08:03.040 --> 0:08:05.040 to be obtained in high school. You can actually keep 0:08:05.080 --> 0:08:08.880 applying to scholarships every year while you're in college. And 0:08:09.000 --> 0:08:11.560 on that same thread, while you're in college. Some other 0:08:11.680 --> 0:08:13.720 great ways to save on costs is to work for 0:08:13.800 --> 0:08:17.360 the university, get an on campus job, become a resident assistant. 0:08:18.280 --> 0:08:20.880 If you're able to drastically reduce your cost of living, 0:08:21.000 --> 0:08:24.280 this can pay huge dividends down the road. At my school, 0:08:24.320 --> 0:08:26.480 it was nearly ten grand a year just for on 0:08:26.640 --> 0:08:29.480 campus housing costs. As an r A, you pay nothing 0:08:29.560 --> 0:08:32.439 and you actually get paid on top of that. And additionally, 0:08:32.520 --> 0:08:35.400 there's all these other sorts of on campus work study jobs, 0:08:35.440 --> 0:08:37.800 Like I was a t A for six semesters that 0:08:37.920 --> 0:08:39.760 earned me a huge amount of money that I could 0:08:39.800 --> 0:08:42.160 put towards living expenses, that I could put towards tuition, 0:08:42.400 --> 0:08:45.160 that I could put towards other school related things. And 0:08:45.240 --> 0:08:47.480 another crazy thing that you could consider is to do 0:08:47.559 --> 0:08:50.160 a co op. So basically a company will pay you 0:08:50.320 --> 0:08:52.719 to work there for say six months or a year 0:08:52.880 --> 0:08:55.439 instead of doing a semester or two. You get paid, 0:08:55.640 --> 0:08:58.760 and you also get awesome on the job experience. So 0:08:58.920 --> 0:09:01.040 definitely go check with your rear office and see if 0:09:01.040 --> 0:09:03.040 there are any of these on campus or co op 0:09:03.120 --> 0:09:06.720 type positions available. And although I didn't take this throughout myself, 0:09:06.880 --> 0:09:08.720 I think I'd be doing you guys a disservice if 0:09:08.760 --> 0:09:11.240 I didn't mention the military, because I had friends who 0:09:11.280 --> 0:09:14.640 went to school for absolutely free by signing a contract 0:09:14.720 --> 0:09:17.360 and joining the Armed forces. So although it's no joke, 0:09:17.480 --> 0:09:19.840 it's not to be taken lightly, and you are signing 0:09:19.840 --> 0:09:21.640 a way a few years your life. You can go 0:09:21.720 --> 0:09:26.120 to college for completely free, zero dollars. And what I 0:09:26.200 --> 0:09:28.920 really want to end on here is that college doesn't 0:09:29.000 --> 0:09:32.120 have to be for everyone. There are so many other 0:09:32.240 --> 0:09:34.559 ways to make money and so many other options in 0:09:35.760 --> 0:09:38.439 You don't need to get this traditional four year bachelor degree. 0:09:38.720 --> 0:09:41.240 You can get a certification in coding, you can become 0:09:41.240 --> 0:09:44.280 an apprentice in the trade. College is not the only 0:09:44.360 --> 0:09:46.559 path to a six figure income, And if you're listening 0:09:46.600 --> 0:09:49.559 to a podcast like this, you probably have some financial 0:09:49.600 --> 0:09:52.240 wherewithal So all I'm trying to say is just weigh 0:09:52.280 --> 0:09:54.720 out your choices, see the options that are in front 0:09:54.760 --> 0:09:57.079 of you, and make sure it's worth it before you 0:09:57.160 --> 0:09:59.400 go to college. But if it is worth it, make 0:09:59.440 --> 0:10:02.280 sure to use all these money saving tips. Alright, So 0:10:02.400 --> 0:10:04.160 the word I used at the beginning of the episode 0:10:04.280 --> 0:10:08.959 was polish and polish because this literally tastes like shoe polish. 0:10:09.520 --> 0:10:11.319 I'll definitely have to send you guys out a bottle 0:10:11.360 --> 0:10:14.800 of good old Mr Boston's. Thanks again, all right, Joel, 0:10:14.920 --> 0:10:18.880 Mr Boston's frugal or cheap? What do you think? Man, Cody? 0:10:19.360 --> 0:10:22.319 I love you, but that's a terrible life choice right there. Okay, 0:10:22.679 --> 0:10:24.280 I think you've made good choices when it comes to 0:10:24.320 --> 0:10:26.679 saving money on college, but bad choices when it comes 0:10:26.720 --> 0:10:28.840 to what you put in your body, and especially when 0:10:28.880 --> 0:10:32.640 he lives in Massachusetts, which has just some phenomenal beer choices. 0:10:32.920 --> 0:10:34.640 But we're gonna get to all the rest that Cody 0:10:34.679 --> 0:10:45.120 had to say right after this break. All right, Matt, 0:10:45.160 --> 0:10:48.520 we're back, and socimically, for high schoolers in parents of 0:10:48.600 --> 0:10:51.880 high schoolers, it's important to consider taking a p classes 0:10:52.240 --> 0:10:56.000 and then taking clip exams. That's not necessarily a tip, 0:10:56.240 --> 0:10:58.719 that's under a rock, right, that's hiding that's not in 0:10:58.760 --> 0:11:01.120 plain type to a certain extent for for parents, but 0:11:01.240 --> 0:11:03.840 just to prioritize that because at the end of taking 0:11:03.960 --> 0:11:06.560 an AP class in high school, you can take an 0:11:06.559 --> 0:11:10.160 a P exam, which is incredibly inexpensive, and for each 0:11:10.280 --> 0:11:12.880 exam that you get a passing grade on most colleges 0:11:13.000 --> 0:11:16.760 except that passing grade as having passed that class in 0:11:17.000 --> 0:11:19.920 in college, and so you don't have to waste your time, 0:11:20.280 --> 0:11:23.000 much less your money in paying to take that class 0:11:23.200 --> 0:11:25.360 when you move on to your school of choice. And 0:11:25.520 --> 0:11:27.520 I think that's really cool. I think it's a great point, 0:11:27.880 --> 0:11:30.360 and I think that students and parents alike should think 0:11:30.360 --> 0:11:33.959 about taking more AP classes, not just because it reflects 0:11:34.000 --> 0:11:36.199 better on your g p A or you feel like 0:11:36.280 --> 0:11:38.640 maybe you even learn more, which which I think is 0:11:38.679 --> 0:11:41.400 true typically in AP classes, but also because of the 0:11:41.480 --> 0:11:44.360 way it helps you in cutting college costs. Yeah, Cody, 0:11:44.440 --> 0:11:46.280 he mentioned that with AP exams, like you're looking at 0:11:46.320 --> 0:11:49.120 close to like two thousand dollars per course if you 0:11:49.200 --> 0:11:51.320 were to pass that exam. Joel, did you take any 0:11:51.480 --> 0:11:53.880 AP exams leading up to college? Yeah, I sure did. 0:11:53.920 --> 0:11:55.720 I took a I took a couple and I did. 0:11:55.840 --> 0:11:57.719 I only did well on one and I'm pretty sure 0:11:57.720 --> 0:12:01.240 that was AP Spanish if I remember correctly, but I forget, 0:12:01.600 --> 0:12:06.280 but see Yolo Espanol Lloyd Bueno. Wait not not really, 0:12:06.480 --> 0:12:08.719 I'm not very good anymore. But yeah, that was that 0:12:08.800 --> 0:12:11.560 was helpful, and and those were actually really fun courses. 0:12:11.640 --> 0:12:13.600 I felt like, well, they're they're fun, but they're really hard, 0:12:13.800 --> 0:12:16.440 right completely. The other thing worth mentioning here is Cody's 0:12:16.440 --> 0:12:19.199 a really smart guy. I feel like we're fairly smart. 0:12:19.360 --> 0:12:22.000 But however, like you can't just show up and take 0:12:22.040 --> 0:12:24.240 these like you need to make sure that you're fairly proficient. 0:12:24.720 --> 0:12:26.560 The same thing with the clip exams. He mentioned those, 0:12:26.760 --> 0:12:28.800 and you know, and if you can clip fifteen hours 0:12:29.280 --> 0:12:31.840 on average, you can save about five thousand dollars per 0:12:31.960 --> 0:12:35.000 public college that you attend, and you're looking at about 0:12:35.080 --> 0:12:37.040 seventeen tho dollars and savings if you go to a 0:12:37.120 --> 0:12:40.040 private school. Pretty much what those numbers equate to is 0:12:40.240 --> 0:12:43.160 a full semester right at a college, because fifteen hours 0:12:43.360 --> 0:12:46.640 is essentially one full time semester. And so yeah, you 0:12:46.679 --> 0:12:48.280 can save a lot of money. A clip exam is 0:12:48.320 --> 0:12:50.199 something that you don't need to take a class for 0:12:50.360 --> 0:12:52.679 but like Matt just said, you need to be super prepared. 0:12:53.040 --> 0:12:56.640 But if you feel like you know biology really really well, well, 0:12:56.760 --> 0:12:59.000 it's worth looking into taking a clip exam for that. 0:12:59.360 --> 0:13:01.880 If you study really hard take that test, you can 0:13:02.240 --> 0:13:04.559 avoid having to take that class in college and not 0:13:04.720 --> 0:13:06.760 just having to spend the time to do it, like 0:13:06.920 --> 0:13:09.600 we said, And each class that you can avoid taking 0:13:09.640 --> 0:13:13.280 in college equates to real dollars that you're saving schedule, 0:13:13.320 --> 0:13:15.120 and these are all tips. Right if you're still in 0:13:15.200 --> 0:13:17.360 high school, or if you have a student, a child 0:13:17.400 --> 0:13:19.640 who is still in high school, and you know, it's 0:13:19.679 --> 0:13:22.560 worth mentioning that you need to have conversations about money 0:13:22.720 --> 0:13:25.160 and how much you know, if your parents, how much 0:13:25.160 --> 0:13:28.680 you're willing to spend towards your child's education in the future, 0:13:29.120 --> 0:13:30.920 or you know, if you're a student, if your future 0:13:31.000 --> 0:13:33.800 college attendee, how much you're going to be responsible for 0:13:34.040 --> 0:13:36.560 because a lot of that is going to be your motivation, 0:13:36.760 --> 0:13:39.520 That is your why behind why you take these exams 0:13:39.559 --> 0:13:42.800 and why you take these ap courses. If you know that, man, 0:13:42.960 --> 0:13:44.559 a lot of this is going to fall on you 0:13:44.840 --> 0:13:47.280 as a student when it comes to fund your college career, 0:13:47.640 --> 0:13:49.800 then I think that might light a fire under someone 0:13:50.000 --> 0:13:52.000 if they know that they're gonna be responsible for it, right, 0:13:52.120 --> 0:13:53.800 versus if they know that, Okay, I've got a certain 0:13:53.800 --> 0:13:56.200 amount of money set aside, and who knows, maybe that's 0:13:56.240 --> 0:13:59.199 even more motivation for them because perhaps if they get 0:13:59.240 --> 0:14:01.800 these college credits out of the way, that's money that 0:14:01.920 --> 0:14:03.480 that will end up in their pocket. Yeah, that's a 0:14:03.520 --> 0:14:06.000 good point, Matt. I feel like too, as parents, you 0:14:06.080 --> 0:14:09.240 can really incentivize your good student to to take some 0:14:09.360 --> 0:14:11.400 of these tests that they might otherwise not be interested in. 0:14:11.800 --> 0:14:13.679 Maybe you have a smart kid that just doesn't want 0:14:13.679 --> 0:14:15.480 to do the extra work to take an AP class, 0:14:15.920 --> 0:14:18.120 doesn't want to study and take a clip exam on 0:14:18.160 --> 0:14:20.960 a Saturday, you know, whatever it is, but apparent knowing 0:14:21.000 --> 0:14:23.560 how much money they can, say paying for their kids 0:14:23.640 --> 0:14:26.400 college or how much less in student loans their kid 0:14:26.520 --> 0:14:28.240 is gonna have to take out, I feel like they're 0:14:28.280 --> 0:14:31.400 little incentives you can put in place to encourage your 0:14:31.520 --> 0:14:34.200 kid to take the AP class, to consider taking a 0:14:34.240 --> 0:14:36.600 clip exam. And that's just a good thing to think about, Like, 0:14:36.680 --> 0:14:38.400 how can I get my kid interested in doing this 0:14:38.960 --> 0:14:41.760 for my sake and for for their sake? Right? Yeah, 0:14:41.760 --> 0:14:43.320 And I think a lot of it does fall under 0:14:43.360 --> 0:14:44.800 the parent. Like I mentioned that maybe it's up to 0:14:44.840 --> 0:14:46.240 the student to kind of figure some of this out, 0:14:46.320 --> 0:14:48.760 but fact isn't. I think there's very few students who 0:14:48.760 --> 0:14:51.120 are going to be self motivated enough and to make 0:14:51.200 --> 0:14:54.600 that connection with Okay, sure, like I can take the 0:14:54.640 --> 0:14:56.880 AP class now and that equals credit down the road, 0:14:56.920 --> 0:14:58.880 but like, what does that actually mean to that student? Like, 0:14:58.960 --> 0:15:00.840 not very much. With meant for me when I was 0:15:00.880 --> 0:15:03.400 taking a P classes in high school was that that 0:15:03.520 --> 0:15:04.840 was just less time I could hang out, and so 0:15:04.880 --> 0:15:07.480 it kind of sucked. There wasn't a ton of connection 0:15:07.560 --> 0:15:10.560 between taking this class now means more money in your 0:15:10.600 --> 0:15:13.800 pocket down the road. I think making that connection truly 0:15:13.840 --> 0:15:16.160 does fall on the parent. Yeah, we're talking about sixteen 0:15:16.240 --> 0:15:21.560 seventeen year old kids who don't have fully developed frontal cortexics, right, 0:15:21.640 --> 0:15:23.600 and so it really is so much of it is 0:15:23.600 --> 0:15:25.120 going to be on the parents. You might have a 0:15:25.200 --> 0:15:28.000 kid that is just incredible, a genius, and not just 0:15:28.080 --> 0:15:31.000 a genius, but a self starter, and and that's really cool, 0:15:31.520 --> 0:15:35.200 that's rare. Yeah, even a smart kid oftentimes needs a 0:15:35.240 --> 0:15:37.120 little bit of push and they have a hard time 0:15:37.240 --> 0:15:39.880 understanding the concept of a little bit of work now 0:15:40.040 --> 0:15:42.720 saving a lot of heartache down the road, And so 0:15:42.840 --> 0:15:45.280 I think apparent the little incentives they can provide along 0:15:45.280 --> 0:15:47.440 the way can make a big difference in kind of 0:15:47.520 --> 0:15:50.360 crushing some of these college costs, you know, before they 0:15:50.400 --> 0:15:52.440 even get accrued and once you get to college. Another 0:15:52.560 --> 0:15:55.880 note is taking more hours each semester. Cody didn't get 0:15:55.880 --> 0:15:57.360 to this, but I wanted to mention that that the 0:15:57.400 --> 0:15:59.480 more hours you're take in a semester, you can cut 0:15:59.600 --> 0:16:02.440 a lot of costs that way. To most colleges consider 0:16:02.600 --> 0:16:05.400 a full time student as having a twelve hour course load, 0:16:05.760 --> 0:16:07.800 but you can take like twenty one hours if you 0:16:07.880 --> 0:16:10.640 want in many colleges where they charged by the term 0:16:10.760 --> 0:16:12.760 and not the credit hour. Matt, I don't know that you. 0:16:12.840 --> 0:16:15.240 I remember being in college and I thought, oh, I'm 0:16:15.400 --> 0:16:18.600 super busy taking a sixteen hour courseload. Now that I 0:16:18.760 --> 0:16:20.960 live real life, I know that that wasn't really that 0:16:21.040 --> 0:16:24.240 busy at all. And at one point I took nineteen 0:16:24.280 --> 0:16:26.440 hours in a semester and I was able to handle 0:16:26.480 --> 0:16:29.440 it with other obligations on the side. And so as 0:16:29.480 --> 0:16:32.440 a parent, as someone who's getting their undergrad or even 0:16:32.600 --> 0:16:36.040 attempting to get a graduate degree. Taking a larger course 0:16:36.160 --> 0:16:38.920 load over a semester. Sure it can make things harder 0:16:39.000 --> 0:16:42.160 when it comes to studying and and getting great grades, 0:16:42.480 --> 0:16:44.680 but I feel like it is manageable for a lot 0:16:44.760 --> 0:16:47.520 of kids to take more hours and still pay the 0:16:47.680 --> 0:16:50.240 same rate because you're paying by the term and not 0:16:50.320 --> 0:16:53.080 the credit hours. That's definitely something to look into. How 0:16:53.160 --> 0:16:55.560 does your college bill and if they build by the 0:16:55.720 --> 0:16:59.480 term and not the hour. Consider taking a heavier course load. 0:17:00.000 --> 0:17:02.600 Maybe not every semester, maybe every other semester, but whatever 0:17:02.680 --> 0:17:06.000 your specific approaches, taking a fuller course load and a 0:17:06.080 --> 0:17:09.960 given semester can mean big savings. Man, Joel, that actually 0:17:09.960 --> 0:17:12.200 reminds me of a semester where I did take a 0:17:12.240 --> 0:17:15.880 twenty one hour course load. Yeah, made it happen. I did, 0:17:16.040 --> 0:17:18.800 But I had to because I had a scholarship and 0:17:19.000 --> 0:17:20.720 I had dropped a couple of courses at that point 0:17:20.760 --> 0:17:22.879 in order to maintain my g p A, which was 0:17:22.960 --> 0:17:25.320 the requirement. But then I had to make those courses 0:17:25.480 --> 0:17:27.800 up before the end of the year. Kind of painted 0:17:27.800 --> 0:17:29.840 myself into a corner. But yeah, I just buckled down 0:17:29.920 --> 0:17:32.639 and made it happen. It's possible. It was not easy, 0:17:33.080 --> 0:17:34.560 but that kind of leads to our next point. You know, 0:17:34.600 --> 0:17:36.800 it was a public school and I got a great 0:17:36.840 --> 0:17:39.320 scholarship that allowed me to go to school for free, 0:17:39.720 --> 0:17:42.000 which was amazing. And there's a lot of options like 0:17:42.080 --> 0:17:44.440 that out there for public and state schools. Keep that 0:17:44.480 --> 0:17:47.000 in mind when you're considering colleges to attend. Private schools 0:17:47.040 --> 0:17:49.840 are going to be much much more expensive. And Juelie, 0:17:49.840 --> 0:17:51.960 you've got personal experience with this as well. Right, Yeah, 0:17:51.960 --> 0:17:53.560 I went to a private school. I racked up some 0:17:53.600 --> 0:17:55.200 student loans the first two years, and I think we 0:17:55.280 --> 0:17:58.000 talked about this in the recent student loan episode. I 0:17:58.119 --> 0:18:00.800 transferred back to a public cool in my home state 0:18:00.800 --> 0:18:03.240 where I was able to qualify for free college because 0:18:03.280 --> 0:18:05.880 of a state funded scholarship program, and I was glad 0:18:05.920 --> 0:18:07.480 to do it. Man. That was that was that was 0:18:07.560 --> 0:18:10.040 totally worth it. A lot of people, to Matt, would 0:18:10.040 --> 0:18:12.240 be well served by going to a community college for 0:18:12.280 --> 0:18:14.480 the first two years. If you have your heart set 0:18:14.600 --> 0:18:18.600 ongoing and getting a degree from a specific educational institution, 0:18:18.920 --> 0:18:22.679 whether it's public or private, going to a community college 0:18:22.760 --> 0:18:26.000 first can help you get all those undergraduate credit hours 0:18:26.560 --> 0:18:29.480 fulfilled and then you move on, right and you pay 0:18:29.520 --> 0:18:31.879