As a recent graduate, I say with utmost certainty that the major thing keeping me from doing masters degree right away is the crazy price tag. Well, that and I want to work a few years beforehand.

If there is one trend that has continued unabated by the economy, it is the growth of tuition costs in education. Schools have announced hikes of anywhere between 4-8% for their students to meet next year; this is a staggering jump on a product that many argue is already overpriced.

So, how can we beat the high cost of an advanced degree?

There are a number of different paths you can take toward trimming down your academic expenses, let’s go over them.

1) Consider a public (state) college instead of a private one.

I know the allure of a prestigious-sounding private school can be hard to overcome, but in reality, there are an absolute ton of public schools that offer an education just as robust, at a much lower cost. Although prices are set individually by each school, it isn’t a long shot to expect at least a 30% decrease in school costs, assuming in-state status.

In addition, online degree schools can sometimes be less expensive than private schools. Above all else, make sure the school you plan to attend has exactly the major and concentration you want for your advanced degree; don’t settle for a school that is cheap over a school that is targeted for your career.

2) Scholarships, scholarships, scholarships!

If you thought you were done with scholarship searching when you graduated with your bachelors, think again! Scholarships and grants remain the best money you can possibly get to pay for school, because, well…. you don’t have to pay it back.

There are a bunch of different websites you can use to find said scholarships, including ones like StudentScholarshipSearch.com and ScholarshipPoints.com. FastWeb.com and Scholarships.com are excellent excellent resources too. Bottom line, plan to set aside some time each week to look for free money.

3) Build your credit history beforehand.

Did you know that you can save thousands of dollars during your loan repayment period(s) if you can qualify for a low interest rate? If you are planning to undergo a graduate degree, financial planning is key to reducing your overall debt burden by the time you are finished.

If you’re interested in learning more about how to build your credit and what all the terms mean, check out Student Platinum’s credit education center.

If you borrowed tens of thousands of dollars from someone, knowing you would eventually have to pay them back, more than likely over several years, you would think the person from whom you borrowed would be a high priority. But amazingly, the vast majority of people who borrow thousands of dollars in student loans have no idea who their lender is.

Now granted, if you are still in school, it really doesn’t matter. Your lender only comes into play around repayment time. But if you have recently graduated college and are interested in consolidation or deferment, you may have to contact your lender. So let’s talk about how to do that.

If you have a federal student loan, such as Stafford, Perkins or PLUS, you can visit the National Student Loan Data System and enter your four-digit PIN number that you received when you filled out your FAFSA. If you don’t know your PIN, contact the Department of Education at 800.433.3242.

If you have a private student loan, you can either contact your school’s financial aid office, or request a copy of your credit report from Free Credit Report, which will list your outstanding loans and lenders.

A number of loan contracts and details differ based on the enrollment status of the student. Unfortunately, each college and educational institution may define the terms of enrollment differently. In most cases, enrollment must be at least half-time to qualify for financial aid at all.

When looking at graduate schools, you may be wondering how many credit hours are needed to be considered a full-time student, versus a half-time student. Here are some guidelines based on information gathered from a few types of schools:

Semester-based school with mostly 3 credit hour courses: Most institutions are using 9 credit hours as full-time and 6 credit hours for half-time.

Semester-based school with mostly 4 credit hour courses: Institutions use 8 credits as full-time with 4 credit hours for half-time.

Quarter schools: These institutions indicated using 6 credits for full-time with anywhere from 3-5 credit hours as half-time.

Not everyone is aware of all the loan options available to pay for college. Here are just a few to consider:

1) Federal Stafford Loans – These are federally guaranteed student loans. You can apply for subsidized Stafford loans and the government will pay the interest for you while you are enrolled. This is a great option for students and the most popular loan program available.

2) Parent PLUS Loans – The Parent Loan for Undergraduate Students allows parents to borrow through the federal loan program to pay for their child’s education. The loan is in the parent’s name.

3) Private Student Loans – Private college loans are not sponsored by the government but offer an alternative sources of funds for those that may not qualify for federal aid or who need additional funds. Private school loans are often in the students name with the parent acting as a cosigner.

4) Perkins Loan – Perkins loans are another federal loan for low income students based on eligibility. These loan funds are limited so apply early.

5) Credit Cards – Believe it or not, approximately 30% of students/parents put a portion of the tuition bill on their credit card. While we don’t recommend this option, it is a reality. To find and compare the best student credit cards, visit www.StudentPlatinum.com.

Once you graduate, consider consolidating your student loans to lower your monthly payment. The downside is you will pay more interest over the life of the loan by extending your repayment period. For additional resources, visit: www.studentloans.com, www.collegeloansolutions.com and www.gradloans.com.

Hey graduates! If you were a business major for your undergraduate studies or are interested in business, check out this new certificate program offered by Stanford University:

The Stanford Graduate School of Business will launch a new 20-week evening Program in Innovation and Entrepreneurship in January. Applications for this certificate program are now available.

Aimed at industry participants who do not have an MBA, as well as entrepreneurial graduate students, the non-degree program will expose participants to fundamentals of business and practical aspects of moving a business idea forward. The 60-person program will bring together Stanford PhD and other non-business graduate students with Silicon Valley innovators, scientists, and engineers to gain greater understanding of the pathways to commercializing innovations and to learn general management skills. Since 2006, the business school has conducted a successful four-week program, the Summer Institute for Entrepreneurship, which teaches entrepreneurship to non-business graduate students in life sciences, engineering, and the humanities.

Cool sounding, right? If you’re interested in learning more, read up on Stanford’s website.

Quote from a press release on Ascribe (http://newswire.ascribe.org/cgi-bin/behold.plascribeid=20100907.154428&time=04%2000%20PDT&year=2010&public=0)