I have to share my correspondence with one of our Minnesota members. She has graciously agreed to let me post it here:
“With CLEP and PSEO (dual enrollment), I just calculated we are saving $96,780 at the University of Northwestern St. Paul.
1/3 of that is in CLEP alone: 32 credit hours, which is about $30,260. Then, two years free through dual enrollment which is another $30,260 X 2 =$60,520.
We are saving far more money by CLEPping and dual enrollment than we could get in scholarships. -Carol Lang Frisk
She’s not exaggerating, I pulled the numbers to share with you.
It’s -seriously- phenomenal. Read on…
2017–18 Tuition & Fees
The University of Northwestern St. Paul
- Tuition……………………………………………..$30,260
- Room………………………………………………….$5,570
- Meal Plan……………………………………………$3,700
- Technology Fee……………………………………..$260
- Health Services Fee……………………………….$124
- Activity Fee……………………………………………..$150
- Personal Expenses** …………………………..$2,120
- Books & Supplies** ………………………………..$600
- Transportation**…………………………………….$620
TOTAL …………………………………..$43,404
It’s worth noting that the green items with ** indicate variable expenses you can control to some degree. (Does anyone else think the college has under-estimated the cost of books?) So, to be fair, let’s round down to $40,000 per year- just the cost Carol’s family will be BILLED.
Without smart planning, Carol and her daughter may have wandered onto campus and signed up for a $160,000 degree! Thankfully, she’ll found a way to bring that cost down closer to $40,000.
Secondary savings and benefits gained by Carol’s plan:
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In addition to reducing tuition cost, this family will cut items #2- #9 on the list by at least two years! She won’t have to pay the meal plans, health services fees, technology fees, etc. if she’s not there!
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A scholarship, while saving cost, doesn’t save TIME. Injecting college credit in high school is extra work, but it is saving this student a full 2 years off the TIME it takes to finish her degree.
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Graduating 2 years earlier than her peers puts her into her career 2 years earlier, thus accelerating her ability to earn a supporting salary.
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If entering the workforce isn’t in the immediate future, she has time to travel, volunteer, serve, or attend graduate school while her peers finish their undergraduate degree.
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If she does take out a student loan, she’ll begin repayment 2 years earlier than if she attended a full 4 years- which saves 2 years worth of interest.
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The average in-state public college costs about $40,000 for 4 years- they’ve found a way to attend a private college for the same price.
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Using CLEP exams allowed Carol to choose appropriate homeschool curriculum that aligned with their family values while earning college credit.
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Using CLEP exams allowed Carol’s daughter to move quickly through subjects she easily understood, and spend more time on those that gave her trouble.
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Using CLEP exams and dual enrollment allowed Carol’s family to make credit accumulation a “pay-as-you-go” situation, which is ultimately the most affordable option for many parents.
How much did they spend? What exams did she take?
Carol shared that her daughter earned 45 CLEP credits, but this college only awards credit for 32. Here’s her list, cost, and reward:
16 credits Spanish CLEP ($100) This college awards up to 16 credits for the Spanish CLEP exam but requires the student to pass a second college based test for verification. This will give her credit in Spanish I, II, III, and IV. (note: most colleges award up to 9 credits)
4 credits World Religions DSST ($100) DSST is nearly identical to CLEP.
4 credits College Composition CLEP ($100)
4 credits Western Civilization CLEP ($100)
1 credit Here’s to Your Health DSST ($100)
3 credit (CLEP) to be determined ($100)
TOTAL INVESTMENT: $600
Parents who inject CLEP exams into their homeschool by using it as a “final exam” don’t really have that much extra added cost- they’re buying curriculum anyway, so the risk is in paying for an exam. Currently, CLEP exams cost $80 but a testing center typically charges about $20 for proctoring services, so it’s safest to budget $100 per exam.
Since exams usually award 3-6 credits, the $100 investment is well worth the risk! You’d have to fail the CLEP exam 5 or 6 times before it’s more expensive than the college class.
Have you thought about using CLEP or DSST to help offset college costs for your teen? If so, what’s your strategy? Do you have tips for getting the biggest bang for your buck? Share them below!
Reader D.M. sent me this lovely note:
“Hi. I just wanted to share a story with you. I have struggled to get my almost 15yo daughter interested in taking CLEP exams. This has recently changed! She is now obsessed with preparing. What has changed? She started the Dave Ramsey financial curriculum and I forwarded the blog post you wrote about Carol Lang Frisk. She is now hoping to take and pass three exams this summer. I hope this inspiration continues!”
I am so thrilled to hear stories like this! Thank you for sharing the details. We are in our first year of seeking CLEP credits for our oldest student. He is a Sophmore. I wish I would’ve known all of this sooner, but at least we can figure it out for his 5 younger siblings.
You are at the EXACT right time! Most parents do a little in the first couple years, but students are so much more capable around 11/12th grades, that they can really gain traction!