How to pay for college tuition and expenses with a business - Business Insider

Summary

Gen Z is paying double what boomers paid for college, and experts say costs will keep rising.

Now Gen Z students who are also entrepreneurs are using their profits for education expenses.

Gen Z is paying double what boomers paid for college, and experts say costs will keep rising.

Now Gen Z students who are also entrepreneurs are using their profits for education expenses.

Three student entrepreneurs explain how they pay for college costs with their revenue.

Even though college tuition rates have recently dropped in some states, the overall cost of higher education in the US is still expensive.

A 2021 report by Georgetown University's Center on Education and the Workforce found that between 1980 and 2020, the average price of tuition, fees, and room and board for an undergraduate degree increased by 169%. What's more, prices have soared across all types of institutions: Data from U.S News & World Report found that over the past 20 years, tuition increased by 144% at private colleges, 171% at public colleges for out-of-state students, and 211% at public colleges for in-state students.

Right now, Gen Z is paying double what boomers paid for college, according to a 2021 report by GoBankingRates, a money-management company. Scholarships don't cover every cost, leading some college students — who also happen to be entrepreneurs — to use their business earnings to pay for tuition, room and board, books, and personal expenses.

"I definitely would not have been able to afford college without it," Sidney Wang told Insider. The 21-year-old is in her third year at San Jose State University in California, majors in design studies, and taps the revenue from her online Etsy store — GemsbySidney — to pay for college expenses. "It just feels really good when you purchase something you made with your own money."

Insider spoke to three Gen Z entrepreneurs in college to see how much of their earnings go toward education and living expenses.

How to pay for college tuition and expenses with a business - Business Insider
Photo Credit: Business Insider

Recent Etsy News Articles

Where to buy the Only Murders in the Building hoodie - HITC - Football, Gaming, Movies, TV, Music

Hulu series Only Murders in the Building is currently running its second season, and while fans have originally been intrigued by the mystery and comedy at its core, lately the sho …

Read more here
Where to buy the Only Murders in the Building hoodie - HITC - Football, Gaming, Movies, TV, Music

Ryan M. Scott Sells 238 Shares of Etsy, Inc. (NASDAQ:ETSY) Stock - MarketBeat

Etsy, Inc. (NASDAQ:ETSY - Get Rating) CMO Ryan M. Scott sold 238 shares of Etsy stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $86.85, …

Read more here
Ryan M. Scott Sells 238 Shares of Etsy, Inc. (NASDAQ:ETSY) Stock - MarketBeat

How Pepper Sims Successfully Launched Pepper Palm on Etsy - Good Housekeeping

Shop Small is a bi-weekly series highlighting small business owners from diverse backgrounds. This series aims to go deeper than your typical product roundup, diving into the inspi …

Read more here
How Pepper Sims Successfully Launched Pepper Palm on Etsy - Good Housekeeping

The Derry businesswoman taking Instagram by storm - Derry Journal

Ciara now makes embellished sunglasses and accessories and has a great following online. She has recently left her job to work on her business full time. Ciara said: “My sister wa …

Read more here
The Derry businesswoman taking Instagram by storm - Derry Journal

Local Etsy sellers frustrated with fees and payment reserves consider looking elsewhere - CBC.ca

Several Etsy sellers in Waterloo region say it's becoming increasingly less feasible to have a store on the online platform and some are even considering leaving Etsy all together. …

Read more here
Local Etsy sellers frustrated with fees and payment reserves consider looking elsewhere - CBC.ca