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Why College Students are in Debt and Why You Need a Plan to Pay for College

The primary reason why college students are in debt is because the last thing on their mind throughout high school was paying for college. I can honestly admit thatI didn’t even start working on understanding the whole college process until I was a senior and I knew it was going to happen sooner or later. Along the way, I learned a few things you should keep in mind that will help you establish a well-rounded plan for your future college payments.The first thing you need to do is carefully analyze each prospective college you have in mind. Not all colleges disburse equal amounts of institutional aid to every student. As a matter of fact, colleges differ in their scholarship programs but you can expect to get a good amount of aid if you do well on your college entrance exam whether you decided to take the ACT test or the SAT test.  What matters here, is that you get the highest score possible. I personally received a 1/3 tuition discount for my score and it was a part of my plan for paying off college.

Another thing you must keep in mind is that you can qualify for the Pell Grant and even if you think your family makes too much income, you should still apply. Many students even miss out on state aid because they don’t fill out their FAFSA. In many cases, a state uses the EFC on your FAFSA to determine further disbursement of grants so don’t take this step lightly.

The next thing to be aware of is that there is scholarship money to be found at your local school and community that is more easily won than national scholarships. But it’s also safe to apply for national scholarships because if you do win, you could get a good chunk of your school paid for.

Finally, you can apply for scholarships at the department you plan to major in. If you plan to major in Business Administration, then you need to ask the business school at the University for any scholarship applications available. Usually, schools give preference to seniors and then on downward to the freshmen. This scholarship money can really be a great addition to the rest of your plan to pay for college so get after it and start working. Don’t be one of the college students who end up in debt.

Written By: Luis Trujillo who writes for Fox News, Examiner, Technorati and owns a website, My Money For College. Visit for in-depth knowledge on financial aid.


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1 Respond for Why College Students are in Debt and Why You Need a Plan to Pay for College

  1. Alex J. says:

    Hi Luis! Excellent point about getting a tuition discount for high scores on entrance exams. It’s wise to study hard for the exam, but I would guess even more so for someone who isn’t straight out of high school, when all that knowledge isn’t as fresh in their mind.

    I wrote a huge resource on this same topic if you’d like to check it out. We wanted to provide something really useful to help college students finish school with the least amount of debt possible.


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