Many factors, such as your financial status and your child's academic record, determine the out-of-pocket cost of your child's college education, but most important will be your knowledge of available resources. Most everybody knows that academic and athletic achievements can lead to scholarships. Many are also aware that there are a number of federal and state aids that help low-income families fund their children's education, but many people are not aware of some of the programs and tests that can give any student, regardless of family income, a low to no-cost start at a college degree. Here are some of the most valuable resources to help launch your child's education.

Testing

Advanced Placement

If your child is academically inclined, she may have the option of taking advanced placement (AP) courses at her local high school. These classes are usually intense versions of the honors classes available at the school. The best advantage of taking these classes is that the student can take a test that may be accepted as credit at the school in which she chooses to enroll. Aside from giving the student a chance to earn college credit while in high school, these classes offer the student a chance to properly prepare for the intense coursework that can be expected at the university level. Normally, the student is tested at the end of the semester or school year. Many advanced placement tests require a testing fee, they generally cost less than one semester credit hour at a community college. Some schools will reimburse the testing fee to students who meet certain eligibility requirements. Whether your student is eligible for free testing or must pay the testing fee, such tests can save as much as 75%-85% on normal tuition costs.

CLEP

The College Level Examination Program is an exceptional way for anyone to save money on a college degree. Whether you are looking to find a way to fund your child's degree, or you are an adult looking to minimize the time needed to complete your degree, you can register to take a CLEP exam at a nearby testing facility. CLEP exams cover specific college subjects as well as general college level subjects. As with the AP exams, the cost of a CLEP exam can be significantly lower than registering for and paying tuition for a class at the university. In fact, military members are eligible to take CLEP exams for free. A CLEP exam can be particularly beneficial to a high school student who has just completed a specific class in high school and feels confident in testing out of the subject. Many libraries offer CLEP study materials, though you can purchase them at most bookstores for a reasonable price (or you can be a true bargain hunter and hunt down a used CLEP study manual, which is usually easy to do considering many people use them only to study for the exams, then sell them at a fraction of the cost).

DSST

DANTES Subject Standardized Tests are similar to the CLEP tests. The DSST were originally developed to offer members of the military a way to earn college credit by taking examinations on subjects for which they've gained experience or formal military training. These tests are available to everyone, though, and you can usually order and take the tests at local testing facilities. As with CLEP and AP, a good understanding of the subject should precede the test. The DSST tests cover subjects such as college mathematics, English composition, and other more specific subject areas, such as business finance. The cost of a DSST is usually less than one semester credit hour at a community college, making it a great way to save money on tuition, as well as expediting a college degree.