Craig Middleton en Finance Hace 1 d · 2 min de lectura · ~100

5 Tips for Paying Through College Without Going Into Debt

5 Tips for Paying Through College Without Going Into Debt

Higher education offers the chance to have a better life for you and your family. Unfortunately, college education has become notorious for the billion-dollar debt that's been created from student loans, or at least this is the case for the American educational system. Over time, rising tuition has deterred many aspiring students to forego the traditional route in exchange for odd jobs that pay minimum wage. Without straying too far from the problem and slipping into a political standpoint, here are five tips for paying through college without going into debt.

Consider Local Universities

While they do not have the clout that Ivy League schools provide to its alumni base, local universities remain a cost-effective option for getting the degree you want. Attending community college fresh off your high school graduation ceremony can save you thousands of dollars per semester, which can later be allocated to finance a master's degree. In addition to being cheaper than universities, community college courses are also smaller in class size, giving students more individual attention.

Move to a City Offering Free College

This could be a needle in a haystack, but it's definitely worth the search. Certain states and counties offer free college tuition to locals who live in the area and have attended all four years of high school within the state or county. An example of this is the Kalamazoo Promise, which is offered in more than 25 community colleges in the U.S. Other colleges will charge you for room and board expenses, but tuition fees are completely covered by the institution. Of course, after graduating from your college education, make sure to give back to the community by volunteering for public works.

Clear Your Credit First

Before leaving off to college, any credit card balances or mortgage contracts must first be settled otherwise you can incur huge financial losses in the form of accrued interest rates. Seek help from the best credit repair companies out there. Although there are costs to obtaining their services, these professionals can help you repay any outstanding credit under your name and, at the same time, fix your credit score. The road one takes to pay off his/her credit will vary, but generally you should look to refine your monthly budgeting plan, reduce your expenses to only the basic necessities, and increase earnings by working more hours or getting a better job position as a student.

Apply For Internship

Most internships pay you zilch to work for the company, but there are still some legitimate offers on the table that grant you a source of income while pursuing the degree you want. And while internships will pay less than what the actual position commands, it does put your name on the front door of the industry. It instills invaluable experience that you can use to learn skills hands-on and build networks that you can tap into for advice, references, and possible promotions in the future.

Join the Army

Not only do you get to proudly serve your country, but joining the military also grants you GI Bill benefits. The GI Bill covers your entire college tuition if you choose to attend a public college or university. It also grants financial assistance of up to $17,500 per year for those attending private institutions. The latter can be a worthwhile investment even though it sounds counter-intuitive. This is because private colleges and universities have more financial backers and donors than public ones, not to mention the potential connections you can build from peers and professors.

Going to college should not be tantamount to getting yourself into massive pools of debt. With the five tips aforementioned, you'll be able to earn your college degree and live a financially abundant lifestyle without debt weighing down on your shoulders. Finally, make sure you give back to the organizations and individuals who supported you financially by using the degree and its merits to affect positive change.