If you want to avoid taking loans, this article will be interesting for you. Here, we offer several solutions that can help you to avoid being stuck in student loan debt.
Student loans: How to live without them?
- Find Money. There are many options here:
- Grants. Study what’s offered by FAFSA (Free Application for Federal Student Aid). The distribution of grants is commonly based on a student’s future career path or current financial need. You won’t have to pay the money back.
- Scholarships. You can apply for a scholarship even if your GPA isn’t perfect.
- Crowdfunding. Find a platform online and start a campaign. Remember to check if it takes any percentage of the donations.
- Employer tuition reimbursement. About 60% of employers offer tuition reimbursement. Some of them can even pay for your Master’s degree. So, you just have to ask whether it’s possible in your workplace.
- Make Money. It doesn’t have to be a full-time job that will bring your study results down to zero. Find a job that offers flexible working hours, decent salary, and a positive atmosphere. It’s not only one of the best ways to pay for college by yourself, but also a wonderful experience you’ll certainly value in the future.
- Lower Tuition Costs. You can reduce your education cost by attending a college that offers the lowest tuition rate for your major, cutting the number of courses, and pursuing a degree that provides additional grants of scholarships. Take general education classes, such as English, history, Science, and Math, at your local community college.
- Reduce Expenses. Spending less is also a good way to get money for college. Here is what you can do:
- Don’t use your car to cut expenses on gas, insurance, parking, etc
- Find an affordable rent
- Live with several roommates
- Live at home, if it’s possible
- Turn off the lights and take showers instead of baths to save on utilities
- Cook yourself instead of eating out
- Take meals with you when you go out, whenever possible
- Use coupons
- Purchase older or used textbook editions
- Resell the books you’ve used in the end of semester
You can’t always completely avoid student loans. However, it’s certainly up to you to make your debt low or non-existent!