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The secret to avoiding college debt is to plan wisely and take advantage of the many opportunities to reduce college costs before and during your college years.
Planning ahead
You can avoid college debt by making wise high school decisions:
Take advanced placement classes
Take all the advanced placement classes you can in high school--every AP exam you pass means one less class you need to take in college.
Keep your grades up
Scholarships can be competitive, and even the grades you make early in your high school years can mean the difference in winning or losing. Don't make the mistake of thinking you can save the hard work for your junior and senior years!
Stay involved
Scholarships also may depend on community and school involvement.
Search for scholarships and grants
Scholarships and grants are the best money source for college because it is money that doesn't have to be repaid. To find out about grants and scholarships, visit your high school career counselor and the Financial Aid Office of your intended college. You can also search the internet for scholarships and grants.
Investigate public service options
The United States Military, National Health Service Corps, and Americorps will give you money for your education in exchange for your signing up for a tour of duty. The time commitment ranges from 10-12 months to 8 years.
Living wisely
The chances to make wise decisions and avoid debt continue into your college years.
Start out in a community college
Most towns and cities have two-year community colleges where you can take your basic courses at less cost than at a four-year college or university. Just investigate to make sure your community college credits will transfer.
Take advantage of Work-Study programs
If you qualify for the federal work-study program, take advantage of it! You will have an on-campus job, possibly in your field of study.
Or work for the school
Many colleges give discounted or free tuition to employees and their family members. There are lots of non-teaching jobs on campus that you can apply for.
Live frugally
Live at home or get a roommate. Avoid expensive spring break trips. Buy used textbooks, and sell your books at the end of the semester.
I already have a loan. Now what?
If you have a federal student loan, it is possible to have your loan debt discharged (canceled) or reduced, under certain specific circumstances:
As you can see, there are many steps to avoiding or relieving college debt. To best manage your debt it is wise to implement a combination of the strategies listed above that work best for you.
About The Author: This article is distributed by NextStudent. At NextStudent, we believe that getting an education is the best investment you can make, and we're dedicated to helping you pursue your education dreams by making college funding as easy as possible. We invite you to learn more about how to avoid college debt at http://www.NextStudent.com .
Feedback
By SusannL
12/20/2008
My daughter is now in college. She got scholarships to cover her tuition and books. I have been able to pay the room and board so we are doing ok. Thanks to all who wrote.
By SusannL
06/21/2008
I would like to retract some of what I said. Shortly after I wrote a $4,000 scholarship came through for my daughter. If not for persistence in applying for so many scholarships this would not have happened. I still feel we were mislead by admissions officers and others who say there is so much unclaimed scholarship money lying around and "You don't even have to write an essay", blah, blah, blah. Perhaps, for certain students who meet very specific qualifications, i.e., must have a disability, belong to minority, be seeking a degree in a specific field. The competition for most scholarships is very keen.
By SusannL (Guest Post)
05/25/2008
Do not believe for a minute that because your child has hundreds of community service hours, a high GPA, or held offices such as the president of the honor society or received trophies for various talents they will get $$ in scholarships. College admissions will tell you that there is money lying around unclaimed and you don't have to write essays to apply for it. This may be true if you are an impoverished minority student, but it is misleading for most students.
We have spent many hours applying for scholarships- even had a CD made to apply for an arts scholarship- daughter got a superior at a state competition and has sung professionally so we thought she had a good chance.
We ended up with $500 from one community scholarship despite the many scholarships we spent hours applying for, including putting together a portfolio. Mostly students with great potential will receive recognition in lieu of money. Daughter has received many certificates and been applauded at various award ceremonies. She received some nice gifts, but no cash for college. It is far more cost effective to earn money by working a part-time job. We are hoping for on campus work opportunities.
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