College Debt - How To Avoid It, And How To Get Out Of It
By Vanessa McHooley, Sat Dec 10th

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College Debt – how to avoid it, and how to get out of it

Because most college students are using loans to finance theircollege education, the debt level of recent graduates is risingrapidly. On average, students graduate owing $12,000-$16,000 instudent loans and another $2,000 in credit card debt. Is thisthe price you have to pay for higher education, or can you avoidcollege debt in the first place?

The secret to avoiding college debt is to plan wisely and takeadvantage of the many opportunities to reduce college costsbefore and during your college years.

Planning ahead You can avoid college debt by making wise highschool decisions:

Take advanced placement classes Take all the advanced placementclasses you can in high school--every AP exam you pass means oneless class you need to take in college.

Keep your grades up Scholarships can be competitive, and eventhe grades you make early in your high school years can mean thedifference in winning or losing. Don't make the mistake ofthinking you can save the hard work for your junior and senioryears!

Stay involved Scholarships also may depend on community andschool involvement.

Search for scholarships and grants Scholarships and grants arethe best money source for college because it is money thatdoesn't have to be repaid. To find out about grants andscholarships, visit your high school career counselor and theFinancial Aid Office of your intended college. You can alsosearch the internet for scholarships and grants.

Investigate public service options The United States Military,National Health Service Corps, and Americorps will give youmoney for your education in exchange for your signing up for a“tour of duty.” The time commitment ranges from 10-12 months to8 years.

Living wisely The chances to make wise decisions and avoid debtcontinue into your college years.

Start out in a community college

Most towns and cities havetwo-year community colleges where you can take your basiccourses at less cost than at a four-year college or university.Just investigate to make sure your community college creditswill transfer.

Take advantage of Work-Study programs If you qualify for thefederal work-study program, take advantage of it! You will havean on-campus job, possibly in your field of study.

Or work for the school Many colleges give discounted or freetuition to employees and their family members. There are lots ofnon-teaching jobs on campus that you can apply for.

Live frugally Live at home or get a roommate. Avoid expensivespring break trips. Buy used textbooks, and sell your books atthe end of the semester.

I already have a loan. Now what? If you have a federal studentloan, it is possible to have your loan debt discharged(canceled) or reduced, under certain specific circumstances:

You die or become totally and permanently disabled Your schoolclosed before you could complete your program You work incertain designated public school service professions (such asteaching in a low-income school) You file for bankruptcy (onlyif the bankruptcy court rules that repayment would cause unduehardship.) As you can see, there are many steps to avoiding orrelieving college debt. To best manage your debt it is wise toimplement a combination of the strategies listed above that workbest for you.

This article is distributed by NextStudent. At NextStudent, webelieve that getting an education is the best investment you canmake, and we're dedicated to helping you pursue your educationdreams by making college funding as easy as possible. We inviteyou to learn more about how to avoid college debt atwww.NextStudent.com .

About the author:My goal is to help every student succeed - education is one ofhte most important things a person can have, so I have made itmy personal mission to help every student pay for theireducation. Aside from that, I am just a pretty average girl fromSan Diego California.