Let’s face it: we’re all going to accumulate some form of student loan debt after we graduate. I’m going to have a steady amount of debt to pay back after I leave Ferris, and the majority of students on this campus will too.
That doesn’t mean we have to leave $60,000 or more (although it’s not a guarantee by any means); there are some resources and ways to lower your amount, even if it’s just by a little bit.
StudentLoanConsolidation.Pro offers five ways to avoid debt. Read them carefully:
Start saving early
This one may or may not apply to you depending on how old you are – or perhaps you are older and are considering returning to school in the future. Well, start saving now. Depending on what school you want to go to and what your income level is, you should be able to put away several thousand dollars hopefully before your first day of classes to get you off to a roaring start.
Take it slow
Actuarial tables will usually show you that the more time you spend in school, the more expensive it is, but this method would allow most people to work their way through school at a more affordable rate. A part-time job at most places will be enough to buy your semester’s tuition and books ahead of schedule if you start a few months before you enter. Keep yourself at less than full-time and work a semester ahead (paying for spring by working through fall).
Load up on scholarships
You don’t have to be a super-genius in order to get a scholarship for school. Some scholarships out there exist to give a person like you money just because you’re you, believe it or not. The trick is to find these scholarships wherever they may be and apply to them religiously every time they become available. You could pick up a $200 one here or a $500 one there, and with two or three of them easily cover your tuition and books without lifting a finger otherwise.
Take an internship
There are companies out there that hire (intern) students in relevant degree programs. The payment they receive is their continued education instead of a weekly check – or sometimes a little of both. Again, research is the key to finding out if such businesses exist around your school for your particular major.
Look into grants
Grants are like scholarships, except scholarships are given for a particular (usually academic or athletic) merit, grants are given usually based on financial need. If your last name isn’t Gates or Rockefeller, you might be able to qualify for a grant (free money that you don’t have to repay), to help cover he cost of your tuition, books and even housing. Check with your school’s financial aid office to see what the qualifications are for the grants they offer.
Take these tips into consideration. You’re paying for your education, and you’re going to continue to pay for it long after you receive your degree.