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Article Series: Debt Relief & Debt Consolidation
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College
Debt – How To Avoid It,
and How To Get Out Of It
Because most college students are using loans
to finance their college education, the debt level of recent
graduates is rising rapidly. On average, students graduate
owing $12,000-$16,000 in student loans and another $2,000 in
credit card debt. Is this the price you have to pay for higher
education, or can you avoid college debt in the first place?
The secret to avoiding college debt is to plan wisely and
take advantage of the many opportunities to reduce college
costs before and during your college years.
Planning ahead
You can avoid college debt by making wise high school decisions:
Take advanced placement classes
Take all the advanced placement classes you can in high school--every
AP exam you pass means one less class you need to take in college.
Keep your grades up
Scholarships can be competitive, and even the grades you make
early in your high school years can mean the difference in
winning or losing. Don't make the mistake of thinking you can
save the hard work for your junior and senior years!
Stay involved
Scholarships also may depend on community and school involvement.
Search for scholarships and grants
Scholarships and grants are the best money source for college
because it is money that doesn't have to be repaid. To find
out about grants and scholarships, visit your high school career
counselor and the Financial Aid Office of your intended college.
You can also search the internet for scholarships and grants.
Investigate public service options
The United States Military, National Health Service Corps,
and Americorps will give you money for your education in exchange
for your signing up for a “tour of duty.” The time commitment
ranges from 10-12 months to 8 years.
Living wisely
The chances to make wise decisions and avoid debt continue
into your college years.
Start out in a community college
Most towns and cities have two-year community colleges where
you can take your basic courses at less cost than at a four-year
college or university. Just investigate to make sure your community
college credits will transfer.
Take advantage of Work-Study programs
If you qualify for the federal work-study program, take advantage
of it! You will have an on-campus job, possibly in your field
of study.
Or work for the school
Many colleges give discounted or free tuition to employees
and their family members. There are lots of non-teaching jobs
on campus that you can apply for.
Live frugally
Live at home or get a roommate. Avoid expensive spring break
trips. Buy used textbooks, and sell your books at the end of
the semester.
I already have a loan. Now what?
If you have a federal student loan, it is possible to have
your loan debt discharged (canceled) or reduced, under certain
specific circumstances:
- You die or become totally and permanently disabled
- Your school closed before you could complete your program
- You work in certain designated public school service professions
(such as teaching in a low-income school)
- You file for bankruptcy (only if the bankruptcy court rules
that repayment would cause undue hardship.)
As you can see, there are many steps to avoiding or relieving
college debt. To best manage your debt it is wise to implement
a combination of the strategies listed above that work best
for you.
This article is distributed by NextStudent. At NextStudent,
we believe that getting an education is the best investment
you can make, and we're dedicated to helping you pursue your
education dreams by making college funding as easy as possible.
We invite you to learn more about how to avoid college debt
at www.NextStudent.com.
Click here to discover my current SolveYourProblem recommendation and choice pick for the fastest, easiest and best debt relief solution you'll find anywhere. Get it and reward yourself with more cash in your pocket.
# # # # #
Author: Vanessa
McHooley
My
goal is to help every student succeed - education is one
of the most important things a person can have, so I have
made it my personal mission to help every student pay for
their education. Aside from that, I am just a pretty average
girl from San Diego California.
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