Going to college or university is an exciting time; you're not only choosing to further your education, but you're also opening the door to learn new things, meet new people, and essentially grow as a person. However, continuing education after high school can also be terrifying due to the sheer cost of it. The Institute for College Access & Success recently reported that 70% of college graduates wind up with nearly $30,000 in loan debt after college.
Choose an Affordable College
Essentially, it's not a good idea to blindly choose a school that you want to attend with the hopes that you will somehow be able to take care of the debt later in life. Graduating debt free is the utmost priority.
If you have a rather pricey school in mind, you might want to consider grabbing transfer-able prerequisites at a community college for your first one or two years. When you're ready to move on to your specialized courses for the desired degree, then it would be wise to apply to the school you have in mind.
Financial Aid is Your Friend
Don't be afraid to look around for grants or scholarships yourself either. No matter how minuscule or unattainable the grant/scholarship might seem, you have nothing to lose when applying for it.
Work While Attending School
Even a job that only provides 20 hours per work of work can support a full time tuition from most in-state schools. Employers will also be more encouraging and supportive if they see that you're using the money to support your education.
Don't Shy Away from Parental Help
Lastly, how you decide to handle your educational finances will have a lasting impact on you for a long time to come. Don't try to make decisions on your own with second or third opinions. Involve your parents in your search for scholarships and grants so that you have access to even more opportunities.
Reducing your chances of having to pay back a large amount of debt all winds down to thorough preparation and effort during high school, as well as throughout college, reports Rachel Cruze, the author of "Smart Money Smart Kids."
Choose an Affordable College
Essentially, it's not a good idea to blindly choose a school that you want to attend with the hopes that you will somehow be able to take care of the debt later in life. Graduating debt free is the utmost priority.
If you have a rather pricey school in mind, you might want to consider grabbing transfer-able prerequisites at a community college for your first one or two years. When you're ready to move on to your specialized courses for the desired degree, then it would be wise to apply to the school you have in mind.
Financial Aid is Your Friend
Financial aid doesn't have to equate to just loans. Contact your adviser for help with locating scholarships and grants that apply to you. Devote as much time as possible to finding free financial help; it will pay off in the long run.
Don't be afraid to look around for grants or scholarships yourself either. No matter how minuscule or unattainable the grant/scholarship might seem, you have nothing to lose when applying for it.
Work While Attending School
Even a job that only provides 20 hours per work of work can support a full time tuition from most in-state schools. Employers will also be more encouraging and supportive if they see that you're using the money to support your education.
Don't Shy Away from Parental Help
Lastly, how you decide to handle your educational finances will have a lasting impact on you for a long time to come. Don't try to make decisions on your own with second or third opinions. Involve your parents in your search for scholarships and grants so that you have access to even more opportunities.
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