This isn't something every college or university does, but it is worth looking into! A Room And Board Program at your child's school can save you thousands of dollars. It takes some work on your child's part, but it is a wonderful way to save money at college.
Such a big expense at college is the room and board. If your child can live at home, that of course takes the living expense away and your child would be considered a commuter.
However, if your child has to live or wants to live on campus, then the cost of living at the school is quite high. My son always wished he didn't have to buy the "board" part of the plan because I am a very frugal shopper and I taught my children how to save money at the grocery store. He can eat and shop for less that what the school was wanting to charge him! As you know though, the board is part of the plan, at least for the first couple years of college. Let me tell you how the room and board program works.
What is it?
The room and board program is a program where your child contracts to work a certain number of hours in the food services program. In exchange, your child will get paid a higher rate per hour and the amount equals the total of room and board and it will be applied to their account.
It is important to note that it goes through the FAFSA's, work study program. If you think you won't qualify for anything, don't assume! Our son didn't qualify for anything else for the FAFSA but somehow managed to qualify for this program. Always, always fill out the FAFSA!
Now, it doesn't mean every and all dorms will be completely paid in full. Your child may have to make some concessions. My son decided he didn't want to risk having to pay anything for his dorm and chose the cheapest dorm and meal plan. It turned out just fine. He liked his dorm and it worked fine for him.
The next year, he was able to move to apartments where the program would count towards (he had a roommate) and it met most of his cost. He worked a few hours of overtime to meet the rest.
Ryan spent 3 ½ years at Chick Fil A, 3 of those years in the room and board program. Keeping it real, he was over it when it came to the end and had to really push himself to batter another piece of chicken. However, he knew it was temporary and the end goal was to be debt free through college. He will tell you it was worth every chicken, lemonade and "My Pleasure".
A dream doesn't become reality through magic. It takes sweat, determination and hard work. Kevin-Prince Boateng
Pros of the room and board program
There are several great things about this program. It helps pay for your child's schooling, is the top one. Another pro is your child is guaranteed a job on campus, where a car is not necessary. Those jobs can be a little harder to find and they could have competition for an on campus job. The money is usually deposited directly into the student's account so money goes where it is supposed to go.
Cons of the program
One of the major cons is that not every school participates in this program. The schools that do participate, sometimes it is not offered to you, you need to be proactive and ask. Be sure to ask! The student is also tied to that job and they must reach the 18 hours per week which can be a lot if your student struggles with time management and studying. It is something they will have to commit to and determine to stick it out.
This money saving way to cut costs for room and board is a unique out of the box way to save money while at college. It takes dedication and time but in the end can save you thousands of student loan debt. Be sure to ask if your college participates in this program.
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