If you determine college is something you need for your chosen career, check out the ideas below the videoclip to avoid student loan debt.
- Apply for scholarships . . . LOTS of scholarships. Start early and apply for everything you qualify for.
- Start saving money NOW! (And hopefully NOW is while you are still in high school.)
- Learn sound financial skills and develop good financial habits NOW! Understand the impact of debt on your future. Understand the time value of money and how it can work FOR you, or AGAINST you. Develop habits of saving rather than spending, responsibility rather than irresponsibility, personal choice rather than peer pressure.
- Look for ways to finance your education beyond the first year of college when scholarships aren't as easy to come by, especially if graduate school is part of the plan. Do you have a product or business idea you could develop now to create residual income throughout your college years?
- Make a plan from the beginning to get the education you need and graduate in as little time as possible rather than spending extra years (and $$s) exploring all the options.
- Choose a college you can afford. Avoid crossing state lines . . . the cost of your education increases exponentially just by choosing a college that is 'out-of-state'.
- Work a part-time job during college. Research shows that students who work part-time in addition to their schooling actually tend to do BETTER, and they also develop critical skills like time management, critical thinking and problem solving.
- Live frugally during college so you can maximize the impact of your available resources
- Live NOW like nobody else so you can live later like nobody else . . . DEBT FREE!!
The future is yours.
Be intentional in creating a life you will enjoy living!
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