By the time most university graduates step out into the world as fresh job seekers they are already thinking of ways to settle their student loans either given by the government as study loan or by the banks. While it is natural for some people to have a loan to service right after your studies, this does not have to be the case. It’s possible to finish school and be debt free at the same time but it requires strategy and strict adherence to what you set out to be your plan.
Start saving early
It is good if you know that you will be pursuing a college degree at a certain point during your life. This gives you a perfect opportunity to arrange for financing and the best way of doing it is by saving. This will however work well for those people who are going back to school after a while. If you desire to join college right after high school, then you can consider the double credit system that allows students to start their first year of college which they are still in high school. Students have been known to save up to $45, 000 in tuition fees with this scheme.
Seek grants or scholarships
The saddest part about the awarding of scholarships is that they can never be forced onto students. Most scholarships and grants stay unutilized just because no one expressed the interest to apply for them. Most colleges will give scholarships to deserving students in their freshman year and a higher amount if the student has been with them for a certain time period.
Seek employment while still studying
If you are in a field that is in high demand in the job market, you can take advantage of this by seeking employment after the first years of your course. The ideal study period is 2 years then some employers will consider you ideal to work as part of their team. There are many well-paying jobs of this nature and this will help a student to either fund the remaining years off their pocket or pay off the loan he used for the first years of study.
Whether it is through reducing credit hours, paying part of the debt or surviving with as little debt as possible, it is possible to go through the education system and get a quality education without feeling the pinch afterwards. Many colleges nowadays offer work study programs where students work in certain departments within the institution for a fee or towards offsetting their tuition fees.
