National Debt Relief – Avoid Student Loan Debt

Posted on January 23, 2017 by

Meghan O’Halloran, a Cornell University graduate, said: “I thought that getting a good job would be just a snap.” But then she found out that she had a hard time and that it was a daunting job to find rewarding and fulfilling employment.

When you’ve submitted your Free Application for Federal Student Aid (FAFSA), educational institutions will be able to make an estimation of the amount of money you would need after they’ve applied other student aid forms and grants other than student loans. The amount that’s left, your specific student obligation, now should be enough for you to pay for tuition at each semester’s start through your own funds.

Keep in mind that in-state public colleges generally provide students with far better financial support options and that includes state grants as well. Bear also in mind to submit your FAFSA timely. The earlier you file it, the more time you have to come up with the right and best financial decision.

Begin with a Summer Job while still in High School
When you’re ambitious, your sophomore year’s summertime is the ideal moment of the year to begin a side job to save money for your college education. Or find an after-school hours part-time job and put your hard-earned money in a CD account (certificate of deposit), a 529-plan, or any other kind of savings account. Just make sure you cannot touch the money until you get into college.

When you don’t want to take a part-time job while still in high school, keep in mind how long you’ll need to be working down the line if you’re having tons of student debt to pay back with interest. That’ll cost you at least five years but probably a lot longer!

Scholarships and Grants
There are students that incorrectly believe that to get a grant or a scholarship, they need to have top grades in high school. The fact of the matter is, though, that there are so many scholarships and grants available, also for students with lower scores and grades. What’s needed is that you have the proper work ethic for finding and applying for these scholarships.

For example, some students may qualify student-athletes programs and there are also scholarships for students who participated in charitable organizations or in community service while in high school. When you are a member of a high school club, just ask your school organizer if he or she would know of any scholarships or grants for active club members.

Work your way through College
If you want to work your way through college, the first thing to do is write your applications for a part-time or flex-time job in the area of the school. If you can, take on that allows for studying when things get slow. And when you’re qualifying for maybe an interesting work-study program, schools will be more than happy to help you with finding a job that makes that you can study as well while earning money. Just consult the financial support office at your college!

When you’re in a situation that makes it hard to afford the tuition cost of your school, also when it is a very expensive school, please don’t be afraid and swallow your pride to take appropriate action. You can also transfer to a less expensive school or even take off a year so you can earn some money to get into the appropriate mindset to work towards a better future. Don’t get pressured into some expensive private loan.