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5 Ways to Avoid Tons of Student Loan Debt

You don’t have to take out thousands of dollars in student loans. You can avoid getting into tons of debt with these five tips.

Millennials are just plain tired of Sallie Mae calling, and now they are questioning if it was all really worth it.

And today, the new American dream seems to be finding freedom from these burdensome student loans.

Some recent grads haven’t even set their sites on the nice home and career that the traditional American Dream suggests.

And this all because they are starting adult life behind the ball with a large sum of debt that funded the degree that they were told they absolutely needed.

Many millennials long to start at zero in adult life, and not in the negatives because of tens of thousands of dollars in debt.

But it doesn’t have to be this way!

It’s time we get ahold of this student loan debt situation. With proper planning, preparation, coaching, and a little bit of patience you can set your children or yourself up to graduate debt free!

5 Ways to Avoid Tons of Student Loan Debt

Scholarships

Nowadays there’s a scholarship for anything and everything. If a student is considering college, applying for scholarships can cut the cost tremendously (or completely!). There

There are plenty of businesses and institutions waiting and needing to give away money. You can claim some of this for yourself by having the patience and discipline to apply for scholarships.

Instead of planning to take out student loans, do the work on the front end and try to win your money.

There’s enough scholarship money to go around for everyone.

Part-Time Job

Students may want to consider getting a part-time job to offset student loans during the school year, and possibly a full-time job in the summer. Students can work in order to

Students can work in order to pay their way through college. The money that one student can make in

The money that one student can make in the summer can cover books, and if they budget correctly this money can cover some of their living expenses.

Students can work through college as much as time allows. When you work to pay for what you want, you value and appreciate it so much more.

It’ll be hard to not give your best in a class when you know how hard you worked to pay for those credit hours.

Managing time and money to pay for school is a practical life lesson that is just as useful, if not more, than any class you can take.

Community College

Community college is one of the best deals around when it comes to the cost of education. You can still get a bachelor’s degree from a four-year university of choice as a transfer student.

By going to a community college for your first two years you can complete half of your curriculum for a fraction of the cost.

Check with your local community college to see what transfer programs they offer and if your credits will transfer to your school of choice.

Commute

Going to a college that is close enough to commute to can save you thousands of dollars in student loans.

You cut the cost of college by choosing to live at home and forgo the cost of student housing, and by taking advantage of in-state tuition.

In some cases, this could cut the cost of tuition by nearly half.

Reconsider

You may not hear this often, but college is not for everyone.

Many students attend college because it’s what their family wants, or because they believe that they won’t get far without it.

But if you are not sure of what to study in college, what career path to take, or if college will help you to advance your goals, then you may want to reconsider going (at least for now).

You can educate yourself and become successful without attending a university. There’s no need to accumulate debt for something that you are unsure of.

College is a major financial decision, and it is one investment that should only be made if you are sure about it.

As with anything, proper planning is the best way to go. If you are sure that you or your children would like to attend college, then do what you can now to make it happen.

You can use any of these strategies to prepare, and your financial coach has your back too. With the right preparation and coaching, you can graduate ahead of the game without the burden of debt.

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