Ways to Evade Student Debt

For some, the most overwhelming notion of going to college can be summed up in one word: debt. Yes, a higher education is expensive, but without a college degree program, moving up in the working world and attaining financial success will prove all the more difficult. Worrying about debt shouldn't prohibit you from attending school to pursue your passion. In fact, there are many ways to stay on top of your bills before your hard-earned diploma is in your hands.

Here are some tips that can help you earn a degree while keeping your bank account nice and padded.

Start saving. If you've finished applying to schools, do your best to put money aside from your current job. This way you'll be able to have some extra money on hand once you've been accepted into a certain institution.

Look into as many scholarships and grants as possible. Once you've been accepted to a campus-based or online college, you can begin the process of applying for aid. Research opportunities through your college in order to earn extra savings.

 • Find out about student work. Many colleges offer qualified co-eds the opportunity to be part of a work-study program. This means you'll be hired as an employee at one of the facilities on campus, with the money going towards bills for your education.

 • Get a job. After you're settled and you feel comfortable with your course load, consider pursing a part-time or full-time job while taking classes to keep your finances in check. Just make sure you don't take on too much - after all, you don't want your grades to suffer.

Another important tip for college students is to keep track of money spent on extras like going out with friends and buying books. Additionally, those who sign up for a credit card should understand that the money must be paid off by the end of each month in order to prevent interest from accruing. By budgeting in these factors at the beginning of each semester, you'll have an easier time staying on track without having to stress about your finances.

David Bakke is a frequent contributor to the Money Crashers personal finance blog, where he shares his tips and ideas for saving money, saving for retirement, and securing your financial future by making smart decisions with money.

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