March 31st, 2020

Find Student Loan Alternatives

Jessia Russell cropStarting off on the right foot financially means that you are preparing yourself for financial emergencies that may arise. The best thing you can do while in college to ensure you start off on the right foot financially is to avoid student loans. Although getting an education without student loans may seem inevitable, you should do everything within your power to avoid them. At first, student loans appear to be the convenient way to pay for your education, but by the time you graduate, you are staring $100,000 of debt in the face. Student loans carry interest, which in turn makes them expensive. Also, student loans can last for decades, making saving for an emergency fund or retirement next to impossible.

Attending college is expensive due to tuition, books, and housing, but there are many avenues for financing your educational advancement besides student loans. A part-time job, local scholarships, institutional scholarships, grants, and work-study are all options that would help cover the cost of attendance. Overall, the best thing you an do as a college student is to avoid student loans. Avoiding loans will put you on the right foot financially because it will allow you to have more money to prepare and invest in the future.

Jessica Russell, Creek Wood High School

Category: College Bound