How Smart Students Avoid Using Student Loans to Pay for School

Written by  //  2018/04/09  //  Financial Aid  //  Comments Off on How Smart Students Avoid Using Student Loans to Pay for School

avoid student loans

The number of students that graduate from college with massive amounts of debt is growing. This may contribute to the trend that more young people are moving back home. Here are some ways that you can pay for school without taking out loans.

Go with an In-State Option

Attending a public university that is in-state is a cheaper alternative. This can mean the difference between you being able to afford your education and student loans. You can get as good of an education at these schools as compared to a more expensive one. It may be tempting to pick a school that is farther away because your friends want to go there, or you want to get away from your family. Before you decide to go with a more expensive college, look into what your expected salary is for your major. This may play a factor in your decision.

Use Your Benefits

Being a veteran offers you an opportunity to have your education paid for by the government. If one of your parents is a veteran, you may also qualify for this type of program. It’s known as the Survivors’ and Dependents’ Educational Assistance Program (DEA). This type of program only applies to a select number of veterans and their dependents. Look into certification for veteran benefits in order to fund your education.

Pay as You Go

You always have the option to pay for your schooling yourself. Work your way through school by either getting a job on your own or through the student work program. Save up prior to starting school. This will give you a buffer if you fall short one term. Your parents may be willing to chip in a little bit of money to help fund your education. Balance your work load with your credit load so that you don’t become overwhelmed. You want to be able to devote time to your studies.

Apply for Scholarships

Start applying for scholarships and other similar programs early. Any one scholarship may not be able to cover all of your educational expenses. Having multiple scholarships can make it easier for you or your family to afford your schooling. Enroll in an internship program. Some of these programs are willing to pay for your education in exchange for you going to work for them once you’ve completed your education.

You don’t have to be one of the thousands of other students that graduate with crippling student loans. Consider other ways that you can fund your education.

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