Attending college doesn’t have to leave you in debt. In fact I recommend you don’t LET it. I personally attended an out of state University and graduated with over $40,000 in student loan debt. I know first hand the horrible crushing feeling it can generate. It’s not somewhere you want to be. If you’re about to attend college, here’s 3 steps to avoid student loan debt, and why you’d want to.
It’s commonplace for people to take out student loans. In fact it’s often recommended. Everybody does it. Heard that before? It’s the phrase that sets off alarm bells in my head, and let’s me know I should probably be doing the exact opposite. I wish I’d done just that. But, I didn’t.
I was a classic high school graduate, excited for college, and ready to borrow as much money as was needed to go. Unfortunately, my husband was as well. Combined we accumulated over $80,000 in college loan debt. That was over 10 years ago now. We’ve learned a lot from our experiences. Most importantly, we learned that taking out student loans is NOT the best way to go to college.
How to Go to College Debt Free
#1 Attend a College You Can Afford
The average in state school costs around $12,000 a year. In comparison, if you attend an out-of-state college (like me) or a private university (like my husband), you’ll be paying far more than that. It will likely be double, triple or four times as much, in fact.
Be smart about your college selection process. When I selected my college, I picked it because the campus was pretty. I liked the lake it was next to. This is NOT smart.
Pay attention to the price of the school you’re considering. Even if you love the school, it’s simply not the place for you, if you can’t afford to go there. No matter how “good” it is.
Typically your future employer won’t care in the least which University you attended. All they care about is… can you do the job?! Don’t go into debt to go to an expensive college, just because it has a fancy name, campus or vibe.
#2 Apply to THOUSANDS of Scholarships
Yes, seriously! Look at the scholarship application process as your part time job for the season. Try to apply to absolutely everything you might qualify for. If you apply to 1,000 scholarships, you might get 10. Hey, it’s worth it! Those 10 scholarships could make the difference.
#3 Get to Work
It might cut into your party schedule, but it’s definitely possible to work and attend college at the same time. Many people do it. Just be sure to use all that extra cash to help you PAY for college.
When I was in school I worked at least one job. Sometimes I had two. I worked within the admissions office filing applications, and also within a lab where they experimented on rats. Yuck!
I still graduated despite the fact that I worked. You can do it too.
Believe. You can do it.
If you focus on your goal, and keep looking for ways to attend college debt free, you’ll be able to. If you make excuses and listen to everyone else, you’ll graduate with a pile of student loans. Trust me, your future self will not be happy with you.
WHY You Should Avoid Student Loan Debt
If you sacrifice a few things during your college years, and don’t borrow money to go, you’ll be SO happy when you graduate. People who graduate with student loan debt often choose to delay major life milestones as a result of that debt.
By going to college debt free, once you graduate you’ll be free to focus on searching for a job within your field without the stress, anxiety and crushing pressure of debt. You’ll interview better because you won’t feel as if you need the job, only that you want to get to work within a profession that excites you.
If you’re in a relationship, you won’t be bringing a mountain of debt to the table, and can begin the process of getting married whenever you want to.
Planning to have children within a few years after graduating? You can begin to save and plan for that, and decide if being a stay at parent is an option for you.
OPTIONS is the key word here. Being debt free enables you to just live your life. There’ll be more options for you. Debt steals that from you. You’ve got to work and make money, because you’re a slave to your loans. They’ll be knocking on your door (literally, if they’re federally insured loans).
