Debt. One scary word to the college eye. College tuition has tripled over the years and only continues to grow. Leaving students with hundreds of thousands of dollars in the hole. So loans are inevitable, right?
Here are 7 ways that students can smash debt with or, hopefully, avoid taking out loans altogether.
Start off by being aware of all the costs that are going to take on.
This helps with the understanding and the severity of this matter. Debt is a big deal, and not a good one.
You’re going to have to pay for books, and housing or rent, you’re gonna have to pay for food or new socks.
So first You have to recognize the enormous amount of things that you’re going to have to put your money to other than just tuition.
2. Just Work
This is the most important thing I can say in this post.
You have to work your freaking face off.
There is literally nothing else to say.
Get a job, have two jobs if you want. Live with your parents, side hustle, refurbish dressers, flip stuff on eBay. Whatever you feel comfortable doing. Just work
Or win the lottery👍🏻
3. Save Once you’re aware of the expenses to come. And have a little bit of money…
Start saving! It’s going to be hard to not go with your friends to the movies and spend $11. Or buy those new sneakers.
All you have to do is save and I promise that you’ll have better chances not taking out any loans. An easy way to save is to budget.
Budget everything… Small things like the food you eat, clothes you buy, gas, etc.
But also things that aren’t necessarily everyday things like car maintenance, house supplies, etc.
Lastly, budget your debt. This is a good way to figure out how much you can put aside every paycheck.
4. Meal plan/prepI heard this as a weight-loss tip, which would be great.
But… it could also be a money-saving tip How easy is it to go to McDonald’s and get a two dollar McChicken because you don’t have anything prepared at home? Super easy. But costing you money.
So plan out the meals you want; whether for a week or for a month, make a list, buy all of that stuff and take maybe 4 hours in the kitchen preparing all of the meals. Because, in the long run… It’s worth it. 5. Take High School SeriouslyIn high school, take the advanced placement courses if you can.
And most importantly, do good in all of your classes. This way, you will get better scholarships to colleges. Fill out the FAFSA with your counselor. Fill out as many scholarships as you can. They’re all there, you just have to find them.
6. Google scholarships There are so many it’s crazy.
Latino scholarships or K-state scholarships, science degree scholarships. I’m going into architecture… architecture scholarships for high school graduates.
Look everything up that applies to you so you won’t miss out on the many scholarship opportunities.<br<br<br
e Another way to save you money is to take community college classes before you go on to a university. you’ll save hundreds of dollars per course and get a good feel off the college life.
You have to be careful to only take transferable courses. Make sure to call whatever school you want to transfer to and ask if that class transfers as a certain class at that university? That way you aren’t paying for any classes that you won’t need or won’t even count.
If You Have To Take Out a Loan: Only take the bare minimum of what you need There’s no need to owe more than you will already.
So don’t take out the max you qualify for. Only take what you need. It’s easy to tell yourself you won’t spend it. But, trust me, you probably will.
Once you have any extra money. Put it towards your loan then. That way, interest doesn’t rack up and you don’t have to spend years paying it off.
Don’t wait until 6 months after the semester to start paying.
This takes a mindset and a lot of hard work. But I can do it and I know that you can too!
I hope you guys enjoyed this post. Comment your favorite tips.
I’ll see you next time and feel free to leave a comment or let me know what you would like me to write about in a future post.