How to Avoid Student Loan Debt
Of course, there are alternatives to going into debt to attend school. Some options, like being born to or adopted by a wealthy family, are unrealistic because this is not something you can control. Other choices may require you to change your core values or give up on the dreams you may have had for a lifetime. Even so, if you haven’t taken out student loan debts, here are other alternatives to consider.
Learn Without Going To School
Nowadays, many employers look for job candidates with specific skills. Employers may not consider an educational background as vital as it once was. Internships are another way to discover if you have the skills to work in a particular field. Additionally, many professional skills and trades do not require a costly education. For example, computer and sales jobs require specific skills, but may not require a degree. YouTube is another excellent resource to obtain a free education. The fields you can study with YouTube are nearly unlimited. The only limitation of an education through YouTube is that it does not provide a diploma. Â
Additionally, streaming services like The Great Courses offer online classes in various fields. The professors teaching these courses work at highly-rated colleges and universities.
Choice of School
Choosing a school with an exorbitant price tag often necessitates a significant amount of financial assistance unless you are offered a grant or scholarship. But don't forget local community colleges. They can provide a similar level of education, often at a fraction of the price of a university.
Alternative Financing Options such as Grants, Scholarships
Many schools offer financial aid to students in the form of grants, scholarships, and work-study programs. These forms of financial help often don't require repayment. Ask your school's respective financial aid officer to discuss alternate resources without incurring debt. All these options can help you save money while attending college.
Limiting Student Loan Debt
Many students live at home, minimizing their day-to-day living expenses while attending school. In that case, you could still obtain a university diploma while reducing expenses to just the cost of tuition and books. Additionally, some employers may cover a portion of your education costs. Many students work full-time and attend school part-time. Meanwhile, other people decide to attend school full-time and work part-time. Either way, reducing your living expenses while having an income can make the extra cost of attending school more affordable.
