Being unemployed with a huge student loan is a realization that is now facing thousands of college students. You need school to get a well-paying job but you need money to get to school. It’s a tough pill to swallow but sometimes student loans can be avoided altogether. Here are our best tips for how to go to college and avoid student loans.
Save. Maybe it will take you a few extra years to get to college and you’ll have to work at a less-than-desirable job to do it, but being debt free might just be worth it. Instead of heading to college right away, get a job and save up money to go to college.
Earn a Scholarship. Do well in school so that you’ll qualify for merit based scholarships. If doing well in acedemics doesn’t look like a good option to you, work on your talents. Many universities and colleges give out generous scholarships for the arts and sports.
Apply for Grants. Financial aid doesn’t just come in the form of student loans. Each year the government gives out billions of dollars in grants. Don’t let that money get away from you. Fill out a FASFA to see if you qualify for this free money.
Apply for Scholarships. Not all scholarships are merit based. There are scholarships for nearly everything out there. Sign up for a scholarship finders like fastweb.com. Apply for as many as you qualify for. Even if you are only granted a few you’re still putting a major dent in your tuition.
Work. It isn’t easy to go to school and work at the same time but dealing with thousands of dollars in student loans isn’t easy either. Working part time during school and full time during the summer can be a great option.
Go to an In-State College. This may not be your first choice but you’ll save a significant amount of money. If you’re insistent on going to a different college, try going to a local school first to get your general education done. Then transfer your credits to a different school for graduation.
Be Frugal. Share a room with roommates. Live with your parents. Go to a community college. Ride public transportation There are a lot of things you can do to cut down on both cost of living and the cost of tuition. Be poor for a few years and live it up once you’ve got your degree and dream job. Check out our article on 10 ways to save money in college.
[...] you’re in college, chances are you’ve pushed the idea of writing that first student loan check far from your mind. But if you’re accumulating more college debt than you can handle, the [...]