How to Avoid Student Loans at All Costs

While student loans help pay for college, they come with a hefty interest rate that ends up costing you thousands of dollars extra, continually adding up while you're paying them off. While government student loans are more flexible than private student loans, avoiding them at all costs by seeking out alternative funding for college is highly recommended. Grants and scholarships help pay for college, and do not need to be paid back as they are awarded based on need or merit.

Instructions

    • 1

      Fill out the Free Application for Federal Student Aid application at the official FAFSA site. The FAFSA form searches for grants you are eligible to receive from the government. Fill out and submit the form at the beginning of the year to increase your chances of receiving available grant money from the government.

    • 2

      Search for scholarships online. Scholarships often require you to write a brief essay, and is not a guaranteed source of funding. Check with your school to see if the institution has scholarships specifically for its students.

    • 3

      Choose state schools rather than out-of-state colleges. Out-of-state colleges and universities often have a higher tuition than your local colleges, which increases the likelihood of resorting to using a student loan. Complete your general education courses at an accredited community college, which can be transferred to the college of your choice to reduce the total cost of college.

    • 4

      Budget your expenses to manage the cost of college and living. A weekly spending allowance helps you set a budget for books, food and miscellaneous expenses.

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