How-to Avoid Student Loans Altogether!

We have been looking at student loans from the perspective of being in debt. These days there are many graduates in debt facing the pressures of paying back massive amounts of money. You’re forced to take a job, any job that comes your way, to deal with paying off your student loans that you accumulated to get your degree.

While this is the common scenario, it doesn’t have to be. You can pass on this information to help a friend or relative graduate debt-free from college.

How can you prevent student debt?

Work in college.

Nobody wants to hear this because college is supposed to be all fun. It still can be fun. You just have to throw some work in there. I worked all throughout college and it helped me save tons of money.

It doesn’t matter what kind of job you find as long as you work and have some money coming in. $100 a week for a few shifts beats making no money at all. This is money that you can put towards your entertainment or spend on your tuition.

If your program is too challenging for work, then you can try the next tidbit.

Enrol in a program with work terms.

I must confess that I never had work terms in college. I had friends that did and I think it’s the best thing for you.

Why are work terms so great?

  1. You get paid.
  2. You get real experience.
  3. You get in the habit of working.

How could you not be a fan of work terms? The only struggle is to choose the right program. How do you this? You apply for programs that have a Co-Op/internship program attached to them.

Typically programs like engineering or nursing offer work periods because they want you to have hands-on experience before you graduate.

Apply for free money.

Did you know that your college offers tons of free money? All you have to do is apply for it.

What are these common forms of free money?

  • Bursaries.
  • Grants.
  • Scholarships.

Think about this. At work you make an hourly wage. When you fill out a bunch of these applications, one hour of work could lead to thousands of dollars. Why not? There are so many scholarships being offered and chances to make free money. What’s stopping you from applying? If you get turned down, you just apply again or apply for more bursaries. There’s no limits on how many applications you can send in. You can take one morning to just submit a bunch of these forms.

Hold off on college.

What’s the best want way to avoid a hangover? Don’t drink so much!

Maybe college just isn’t right for you right off the bat. Many of my friends took time off to work, save money, and figure out what they wanted to do next. This can be the best thing for you. Many of us just aren’t ready to move out or be independent after high school. You might want to take some time to grow and to save up some cash.

Please pass this article along. The more young folks that manage to graduate debt-free, the better for us. I just want the next generation to know that debt isn’t mandatory.

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