4 Reasonable Ways to Minimize Student Loans

  1. Scholarships and Grants- Don’t only look for one or two big offers, apply for smaller awards too.  Some may only offer a few hundred dollars, but that’s money you won’t have to pay back later.  Every little bit helps, and it all adds up.
  2. Work- Part time or full time, but make sure you study enough to pass your classes.  Look into work-study programs, campus jobs, and your target field.  Unpaid internships won’t help reduce your debt, but they’re a good way to gain relevant experience.  When in doubt, go with the job that pays.
  3. Tuition Costs- Community college might become free, assuming the politicians and taxpayers can work it out.  Either way, it’s a means to complete core requirements at a lower cost.  In-state schools are much cheaper than out-of-state.  When it ends up on your resume, an undergraduate degree is an undergraduate degree.
  4. Living Expenses- Don’t live beyond your means.  If you’re reading this, I assume no one else is paying for your education.  Every dollar you borrow might be two dollars you have to repay in a few years.  Compare dorm-room and board costs with an apartment.  Don’t go out for dinner and drinks and DUI tickets every night.

Bonus: If you’re really committed, don’t buy textbooks unless absolutely necessary.  It’s possible to get decent grades in upper-level classes by attending lectures, taking notes, and not buying the books.  However, this tactic is not for the faint of heart.

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4 Reasonable Ways to Minimize Student Loans

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