If you're one of America's 18 million college students and you're terrified of drowning in a sea of student loan debt, you're not alone. In fact, 2/3 of your fellow students will graduate with some kind of debt.
How much?
The average college graduate wracks up $25,000 in student loan debt by the time he gets his diploma. Depending on his exact loans and interest rate, if he can manage to pay $200 a month, it'll take him about 15 years to pay everything off.
Yes, you read that right - it'll take 15 years to pay for 4 years of college!
So, how do you avoid having a similar student loan nightmare?
Simple - you find a way to pay for college without them!
Here are 4 creative ways to do it:
1. Dig deeper into scholarships.
If this option doesn't seem very creative to you, you're not thinking outside the box. Yes, scholarships are available for students from low-income families or for students that have amazing grades. But that's not all that's out there!
There are scholarships for virtually anything you can imagine. Look carefully and you'll find scholarships that apply to your specific major, your specific hobbies, and even your specific hometown. If you're willing to put in the time to hunt for scholarship opportunities - like talking to the local Rotary Club about their $500 scholarship or joining the water polo team to get a $1,000 scholarship - all of that "free money" will add up!
Even if your school didn't offer you an academic scholarship when you were first accepted, it's not too late. Many universities offer scholarships to sophomores, juniors, and seniors who have excelled in their college classes - so study hard!
2. Negotiate.
If the local college is offering you a great scholarship, but you dream of going to that other school two states over, try to negotiate with them! Explain what kind of opportunity you're being offered and see if they can match it. The worst they can say is "no".
3. Become an RA.
RA's - or Resident Advisors - are the go-to person for a section of their dorm. In exchange, they get free room and board. OK, so you might have the girl from room 425 crying on your shoulder about her crazy roommate, but you'll save thousands of dollars every year!
4. Stick to the 4-year plan.
Lots of college students are on the 5-year plan - meaning they graduate in five years, instead of four. However, that's a great way to end up with a financial disaster on your hands. After all, that extra year of college will cost tens of thousands of dollars! Plus, all of those scholarships you've worked so hard for will likely only cover you for four years.
Keep it simple and graduate in four years (or less, if you can). Your wallet will thank you!
Article Source: http://EzineArticles.com/7240188
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