The cost of college has sky-rocketed in recent years, leaving parents and students to scratch their heads over suggested savings plans, projected tuition hikes, and how on earth they’re going to pay for a decent education, and whether investing in a four year education is worth it in terms of higher salary and job security.

Here are five ways to make the cost of college affordable:

1. The college two-step.

If you are leaving high school, with limited resources, and not ready to lock yourself into a specialty, a local community college can save you thousands. In fact, community college is a good choice for any student looking to shave thousands off their tuition costs. The “College two-step” as it’s sometimes called is the practice of a student beginning their education at a local, state or community college, and continuing to pursue their degree at a more prestigious four-year school. Your degree will read the same if you do four years at Harvard or Berkley, or if you spend two years at a local college, and transfer the credits to a better-known, more expensive institution.

Community colleges can be a great first step for students, often offering smaller classes, more individualized learning, and more support than a larger, more impersonal school. Your best bet? Get as many basic “Core Education”: Math, Science, English and History credits as possible out of the way. These credits are the most easily transferable and take care of the basic requirements for your degree. Pursue the more specialized classes after you transfer to the college of your choice. And don’t overlook Advanced Placement classes offered by many high schools. They can be a great way to earn college credits without the tuition price-tag, saving you thousands.

2. Never pay full price for textbooks at the college bookstore.

College textbook prices are notoriously over-priced, for several reasons. First, education is a niche market, meaning the publishers have to recoup the costs of researching, writing and producing the books from much smaller sales than they can expect to make with, say, a commercial novel. Second, they have a captive audience. College textbooks are produced by a few elite companies who are in tune with the demands of professors and colleges. Third, textbooks have a brief shelf life. College texts become obsolete in just a few years, making it necessary for the publishers to begin the process of research, writing and production all over again.

So, how do you avoid paying top dollar for your college text books? Cash-strapped students have several options. First, invest in a library card. Quite often, the books you need will be available through a library, either on campus or off. Of course, that might be a temporary solution if the book you need is a basic text you’ll be using for an entire semester. For books you simply must keep more than a few weeks, a more permanent solution is in order.

Several websites offer textbook rentals. For just a few dollars, you may be able to rent the book you need. The rental option may be less expensive, and it eliminates the need to re-sell your used textbooks. Simply rent the book for however long you need it, and at the end of the rental period, return the book via mail. A caveat: The rental fee may be as much or more than the next option.

Buy books used. Be sure to compare prices across several websites. Half.com, Amazon.com, E-bay, and thousands of other used-book sellers abound on the web. The proliferation of online sales has brought prices of some items into a standard line. Not so for text books. A recent search for Everything’s an Argument by Andrea Lunsford, fifth edition, which retails brand-new for $74.66, returned a mixed bag of prices and options on these sites. At the time of this article, we noticed this same publication having a new list price ranging from $74.66 to 35.04, and a used price as low as $25.99 from Amazon.

3. Live at home.

Graduating from high school leaves many students chaffing to be out on their own, enjoying the freedom and satisfaction that comes with living on campus. However, freedom, as they say, isn’t free. Whether you find an apartment, have roommates, or live on-campus, a roof over your head is going to cost you. If you’re able, and if your parents are willing, living at home may be a more affordable, practical option for high school graduates in their first year or two of college. Consider offering your parents a small (but reasonable) rent, in return for the continued use of a room in their home. Be sure to discuss the details, such as whether the rental includes your food costs, or whether you’ll be expected to purchase your own supplies, what chores you’ll be expected to preform, and house rules. After all, you are a young man or woman now, legally an adult, but this is still your parent’s home. You will need to respect their rules.

4. Split your cost of living.

Not everyone can live with their parents, whether for financial reasons, limited space in your parents home, inadequate study areas, or friction in the relationship. In those cases, it may make more sense to examine living either on or off campus. On campus housing offers a variety of advantages. You don’t have to search for a roommate; usually one is chosen for you, at least for the first semester.

The down side? Your roommates are chosen for you. You get no say in who rooms with you, and many colleges will not allow changes for at least a month or two. On the other hand, an off-campus apartment may be more costly, and you’ll have to go to the trouble of interviewing roommates, and taking the risk of being stuck with the rent or telephone bill if your roommate turns out to be a dead beat.  Consider the options and weigh the costs before making a decision.

5. Can you say scholarship?

Not all college costs need come straight out of your pocket. Scholarships, financial aid and work-study programs can all help cut the cost of college dramatically. Don’t cross the expensive private schools off your list just yet, either. Sometimes, the pricier the school, the more attractive the financial aid package they’ll offer to an exceptional student. If you graduated with a high GPA, and scored well on the ACT or SAT, chances are excellent you will qualify for some form of financial aid. Think your parents make too much money to qualify for aid? Think again.  Everyone, and we do mean everyone going to college should take the time to fill out the FASFA. You may find that college is a bigger bargain than you thought it could be.