Print
Friday, September 15, 2023/Categories: Borrowing, Everyday Money Management
The burden of student loan debt can be a heavy one to bear, and many graduates spend years, even decades, paying off their loans. However, there are smart strategies you can implement to avoid accumulating student loan debt in the first place. In this article, we will explore four of these strategies that can help you graduate with a diploma, not debt.
Start Saving Early Of course, the most simple and perhaps obvious way to avoid student loan debt is to start saving and investing early for future education costs. If you’re a parent or grandparent of a future college student, there are ways to save over time that can add up to big savings later.
Pursue Alternative Education Paths Traditional four-year colleges and universities are not the only routes to a successful career. Pursuing alternative education paths can help you acquire the skills and knowledge you need without accumulating substantial student loan debt. Here are a few alternatives to consider:
Seek Out Scholarships and Grants Scholarships and grants are essentially free money for your education, and there are countless opportunities available for students willing to put in the effort to find them. Here's how to go about it:
Work Part-Time or Co-op Jobs Working part-time during college or participating in a co-op program can help you cover your expenses and even gain valuable work experience. Here's how it can benefit you:
Student loan debt doesn't have to be an inevitable part of pursuing higher education. By exploring alternative education paths, seeking out scholarships and grants, and working part-time or in co-op programs, you can make smart and unique choices to avoid accumulating excessive student loan debt. With careful planning and dedication, you can graduate with the education and skills you need for a successful future, free from the burden of crushing debt.