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Plan to Graduate College Debt Free

| April 07, 2017
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A college selection based on prestige is the main reason students accumulate debt. As student debt continues to climb, graduating debt free is becoming everyone’s goal. To succeed at this, select the right colleges based on realistic financial goals and education planning. The right college has one or two of these qualities.

Two-year college
Community college saves a significant amount of money. Take general education classes there and focus on your major at the four-year university. A successful transfer requires a transfer agreement program with the four-year college. Transferring without an agreement program is risky; you will retake college courses, which is wasting money and time.

Trade/vocational colleges
Give trade and vocational colleges a try if you know the exact career choice you wish to pursue. Diploma, certificate, and associate degrees are available in specific careers such as nursing, administration, welding, accounting, and culinary chef. It’s a faster, yet inexpensive way to gain valuable skills for the workforce.

Public universities with in state tuition
Students remaining in state for college can enjoy local colleges and universities’ inexpensive tuition rates. For residents aiming for out-of-state colleges, you can get in state rates at out-of-state colleges. Research colleges in neighboring states to find discounts and low out-of-state tuition rates. Look for reciprocity rates and academic exchange programs. Finally, see if you can become a resident in the state where the college resides.

Private colleges with scholarship offers
The private colleges are the expensive ones. Most prestigious colleges are private institutions. If a private university is in your future, attend private colleges with scholarship offers. Private colleges offer university scholarships to deserving students. The best packages lower tuition costs to compete with public universities.

Free colleges
The colleges with free tuition usually expect students to work off the tuition bill in exchange for a free education. The disadvantage is the low acceptance rate (for some), and that is due to accepting only the financially needy. Students should add a college like this to their college selection.

Comfort
There’s no point in attending an institution only to drop out or earn an academic suspension. In addition, never attend a college because your family likes it, your friends attend, or your significant other is there. Attend the college because you like it.

Along with financial aid searches and working during college, the college selection is critical. A conversation about prestige versus cost between parents and children must happen. We hope the final selection is a united decision.

For more information on college financing, contact us.

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