Sunday, May 6, 2012

Graduate college with little or no debt

Before you go to college and get loaded up with a mountain of student loan debt, think it over. Be smart about how you finance your education, and, choose your college and major wisely. Student loans can add up quickly. If you can't get a high paying job to make the payments, you will be in a bind. Even if you can make the payments, you will need years to pay off the student loans. Avoiding student loans may sound impossible, but it is doable. College should enhance you life, not ruin it with debt.

The first thing you can do to make college debt manageable, is to choose your major wisely. A major that will not get you a high paying job is not worth borrowing thousands of dollars to finance it. If you are stuck on your current low-paying major, you should finance college in a different way. Read on for more tips. If you have a major that can guarantee a high paying job, and is in demand, you can quickly pay off your student loans. Does your future job justify getting $100,000 in debt?

Choose your college wisely. The cost of attendance is different between schools, and can be quite staggering. Most often, a public college or university is much cheaper than a private one. Even with recent tuition increases. Some private colleges do give out more money, so be sure and do research. In the end, it does not really matter where you graduate if your degree is in demand. You don't have to start out at a four year college. Going to a local junior college will make the first two years of college much cheaper in relation to the years elsewhere. Remember, your four year degree will still say it came from the four year college. Many junior colleges near four year schools have agreements about guaranteed admission from one to the other. This can really make your first two years of school almost debt free to begin with.

Get a job and keep working. Yes, it's tough to go to college and work. But it will pay off in the end. Traditional colleges are very expensive to attend. Most colleges and universities are offering class that are non-traditional, or at later hours. You can take classes online, after work, and on weekends. Did you know that many freshmen do not finish in four years? There is no rule that says you have to. Colleges have programs and degrees geared for working people.

We all know the lure and excitement about attending college. The dorms, the fun, the friends. But we forget the debt. Don't get suckered into ruining your future. Graduate debt-free and you can party the rest of your life!

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