Avoiding a mountain of debt after graduation
August 29, 2012
As a prospective student, the idea of taking on student loan debt is unavoidable and dissuading, even as you pursue a degree to further your career. However, there are a few ways that you can reduce the amount of debt you're in once you graduate from college.
1. Only borrow what you can afford.
Prior to enrolling in a postsecondary institution, know how much you can afford to borrow. Do the math and determine how much you'll be paying after graduation. If it's too much, you'll need to cut down on how much financial assistance you attend to apply for.
2. Utilize grants and scholarships.
Grants for parents and scholarships for moms are now making it easier for nontraditional students to attend the school of their choice with financial peace of mind. Unlike student loans, these resources do not have to be repaid in the future, making them viable options to curb the cost of tuition.
3. Look for a job prior to graduation.
Bankrate.com recommends beginning your job hunt prior to graduation. At least six months before you receive your diploma, start looking for prospective positions to get an idea of how the market is faring.
