How to get out of a student loan debt

Way before you receive your diploma, you’ll be thinking of life post high school. It’s easy to buy into the trend that a college degree is necessary for pursuing a worthy career. Before you follow this invigorating journey, ask yourself if it’s really worth the incredible investment?

Contrary to popular belief, higher education should not be free. Education has a value, and if we make it free, it loses that value. Therefore, we lose the value it has to offer. But, racking up a pile of student loans isn’t the answer either. Student loans are becoming an overwhelming burden on many young people in our society. A burden that can be entirely avoided, so don’t buy into the lie that you have to accrue huge debt to afford your future. It’s important to know how to get out of a student loan debt, so here are nine ways to help you avoid student loan debt: 

1. Don’t go to a college or university: 

There are tons of viable careers that don’t require a degree. In fact many jobs are better learned through experience. Or, consider a trade and focus on getting a certified license. Certain skills pay an incredible sum of money for well-trained individuals. 

2. Go to a community college:

Smaller, local colleges often provide an education that is as good as what you’d receive at a university. If you are one of those individuals who is set on a college degree from a prestigious university, or your chosen career path requires a degree from a reputable university, then consider starting at a community college and transferring to a university in your junior year. This buys you time to afford the tuition.

3. Alternative to IV league:

You don’t need to go to an IV league to get a good education. You will get out of your schooling what you put into it. There are so many resources available to you. It’s your own fault if you don’t take advantage of those resources to gain the knowledge and insight you’re seeking.

4. Take a year off:

There is nothing wrong with spending a year or more saving money, especially if you’re uncertain as to which path God is leading you. You won’t just be earning money for school, you’ll also be earning life experience.

5. Work while in school:

Consider going to school part-time while working part-time to raise money for your education. Or look for a work study opportunity that pays for your tuition. Perhaps you’ll be able to manage being a full-time student who works nights and weekends. Find a schedule that you can handle, because if you don’t establish the right balance between work and school, you’re not accomplishing the purpose you set out to attain.

6. Work with your parents:

Perhaps your parents have been saving for your college since you were a baby, or perhaps they don’t have a single penny saved. But, you can demonstrate responsibility by talking to them about helping you raise the funds needed to go to school. For example, you may develop a plan for every $100 you save for college, your parents will raise $200. If they’re invested in your education, you need to allow them to provide input on where you go and why. Staying in-state might not be about keeping you close, it may also have to do with the end bill.

7. Live at home:

Although a significant purpose of the college experience is to gain independence from your parents, if you’re not able to pay for this lifestyle, then you aren’t acting very responsible. You can still learn the skills of independence by remaining at home. Room and board is often the most expensive part of college life, so if you can eliminate this expense, your tuition bill may be more feasible.  Plus, it’s better to stay home now, rather than have to return home later because you can’t find an apartment small enough to afford because of your huge student loan bill.

8. Start young:

No matter what age you are, you can start saving for college. Don’t put it off until you’re senior year. If you start in middle school, then you have a lot less to worry about as you pack your bags for college orientation. 

9. Apply for scholarships:

This is something you should do whether you have money saved up for college or not. There’s a lot of funding available out there, so start looking early so you can gain more. Even a small $50 scholarship helps.  

Saving can help you get out of a student loan debt

You can always learn to pinch pennies so you can put more toward your education. Here’s a few ideas to work toward: 

1. Cook your own meals to avoid expensive meal plans or fast food. 
2. Share a room with a friend to avoid higher rent. 
3. Shop sales or thrift stores. 
4. Take advantage of applicable student benefits (for example, take public transportation, which may be included in your tuition, rather than pay for gas and parking from driving a car.) 
5. Get rid of the notion that you need to be entertained. You do not need to spend money at the movies, on cable or even a streaming service. The library, or a friend is a sufficient resource. Or perhaps just spend more time focusing on your education. 
6. Reuse old school supplies from high school.
7. Planners are great, but consider organizing your schedule and task lists through free apps on your computer or phone.
8. Buy generic food, beauty and hygiene products, etc. For some products, the quality is exactly the same, so don’t get stuck on the brand name.
9. Become a DIYer. If you can’t live without your Starbucks, then learn to make it yourself. If you need the latest clothes, then learn to design and make your own unique style. If you have to have a specific lip balm or shower gel, experiment to see if you can create something as good if not better. Often taking on these skills helps in the future as well! Who knows, you may become the go-to Barista on cam

Many of these ideas may seem unfeasible because they’re an inconvenience to you. If you’ve never had to save before, it is inconvenient, but so is making our nation pay for your tuition bill. That may sound harsh, but student loans are a lot more painful. You’re entering into a difficult time of life, but God has a plan for you and a purpose for your life, so don’t hold yourself back with a pile of student loans. Come up with a plan and run after the goal you set.