How can you avoid student loans? Find out!

Graduating high school is a huge milestone in life because, for many, the next step is college. But when the word college comes to mind, the next thing that may cross your mind is student loans. Loans in general are a common part of life these days. Things like college, cars, and houses are just way too expensive to pay off right away. This is why planning for the future is important. Relying on loans get you the immediate result but in the long run can be financially detrimental. Loans often come with high interest rates. Some interest rates are higher than others and at the end of the day you will be paying more money than you actually borrowed. Although loans seem necessary at the time, it is possible to avoid them.

When choosing a college be sure to not choose a college just because of its name, or because your friends are going there. Choose your college in a fiscally responsible manor. Community college would be best in attempting to avoid student loans. Community college is cheaper than state, private, and Ivy League schools. It is also a great place to take core classes while saving money, because you may live at home while attending school. Besides avoiding loans because community college is cheaper, you are also getting a great education. Many professors that teach at community college come from other state and private colleges.

Another great way to avoid student loans is to apply for grants and scholarships. There are thousands of scholarships and grants waiting for you. Searching the web is a great way to find scholarships, as well as contacting your school for in-house scholarships that they offer. You will be surprised to find out how many scholarships you may actually qualify for. Grants are harder to find and harder to qualify for, especially individually, but are still worth looking into. Do not forget to also find out how much financial aid you may qualify for. Many students look over financial aid because they think their parents make too much money, but without consulting with a college counselor, you could possibility be losing out on money that could be yours.

There are many ways to avoid loans in college. It will take time to find out exactly how to go about avoiding loans and covering costs without them may seem hard to believe when you get your first semester’s bill in the mail, but it is possible. One student from Massachusetts is living proof: He even wrote a book called “Debt-Free U.” He completed college without a single loan, borrowing from his parents, or scholarships. Sounds impossible right? While it is definitely not an easy task, it is plausible. Researching just how to do that is key. Putting effort into finding out how is the biggest task but it will be worth the work at the end of your college journey if you emerge completely debt free.

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