How to Attend College and Walk Away With Little Debt

Although the best job opportunities are typically only open to those who've earned a college degree or a post-graduate degree, the costs of higher education are often difficult to afford. High levels of debt post-graduation may essentially negate the financial gains made by working a job that requires a college degree. However, by doing research, sticking to a budget and closely watching your debt, you can leave college with a lower level of debt than most students.

Instructions

1

Pay attention to tuition rates for the colleges you want to attend. Private colleges often have high tuition rates because they don't have as much government support as public universities. Additionally, the cost savings for attending in-state schools or schools in states with reciprocity with your home state may be significant. Don't feel as though you have to attend an inferior school simply to be able to afford college; however, if you shop around, you can likely find comparable levels of education in different tuition ranges.

2

Apply for as many scholarships and grants as possible. Individual scholarships may be worth thousands of dollars and significantly reduce your tuition burden. The best time to start looking for scholarship opportunities is when you begin high school. Colleges themselves also often offer substantial scholarships that may reduce or even eliminate a student's tuition obligation.

3

Take on only as much debt as you need. When looking at financial aid offers, it may be tempting to accept the entire amount offered. However, this isn't free money: You need to pay it back eventually. Take a realistic look at your budget and carefully think about how much financial aid you really need --- accept only that amount.

4

Live frugally. It may be frustrating while you're in college to forgo fun activities or nights out, but it's worth it if you can avoid taking on debt to pay for such expenses. Avoid eating out, for example, and cook your own meals. If your studies allow it, find a part-time job to earn extra money. Colleges and universities often provide opportunities for students to work on campus and be compensated in part in reduce tuition.