In spite of what popular teen dramas would have you believe, college is not all fun and games. Outside of all the partying and frat house pledging, there’s actually work to be done – and it’s not all school work. College students today face the burden of paying sometimes exorbitant college tuitions, not to mention the cost of living while getting through college. Fortunately, there are things you can do to relieve the burden, so that you can focus on the most important thing: graduating. Follow these tips to graduate college without student loan debt.
Financial aid. If you qualify for financial aid, then take advantage of it. The government’s financial aid program has been sending students to college for many years, and without leaving them with the burden of debt. To find out if you qualify, fill out a free application for federal student aid (FAFSA), which you can find online or at any college you are thinking of applying with.
Work. Perhaps the most straight-forward way of getting through college without a mound of debt is the good old-fashioned way: work. Find a job. Or find two. Or three. Whatever it takes should be your motto. Sure, it’s not easy to work and go to school – but who said this was supposed to be easy?
Borrow. That’s right – borrow some money. Rather than apply for student loans, which will inevitably come with an interest obligation, hit up a close friend or family member who believes in you and who is willing to invest in your future. Then make it a point to pay it back in a timely manner. True, you will still owe some money, but unlike student loans, your debt won’t compound with interest.
Scholarships. If you are going to college straight out of high school, then your high school should offer a variety of scholarship programs based on merit. Additionally, there are a number of private, agency, foundation, and governmental scholarship programs that you can apply for to greatly reduce the financial burden of going to college. Search online and make an appointment with your school’s educational counselor to find a multitude of scholarships you can apply for.
There are ways to get through college debt-free. Chances are you can take advantage of more than one of these methods in order to create a college graduation plan for you. Just be ready to buckle down and work hard, and it will pay off in the long run – without you having to pay it off for a long time.
About the Author: Lonnie Ciskowski enjoys working as a personal finance consultant and aims to help with college debt, retirement planning, and more. He enjoys teaching his younger clients about IRA rules, how to start retirement accounts, and living a comfortable yet frugal life.