How to Avoid
needing a student loan
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Do you have at least $15,000 in student loan debt?
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Education Loan Consolidation

Avoiding Future Education Loans

Are you still taking some classes while trying to pay off past student loans? Or are you a soon to be college student trying to stay away from loan debt for now? It's a common problem that many students run in to, but it is definitely one that can be avoided. If you don't want to add any future education loans into your debt, read about some of our helpful tips in avoiding extra student loans:

  • Probably the deciding factor in whether or not you'll need an education loan is what school you attend. Obviously, most people will need some help from student loans if they attend one of the better schools. Don't be afraid to attend a community college your first couple years, you'll save thousands of dollars and the credits don't work any differently from a university in most cases.
  • Another important factor in figuring out if you'll have to take out education loans is your housing arrangement. Of course living at home for a while can help you save thousands, but that may not be an option of you want to attend an out of state university. This is where you'll have to really prioritize your goals, do you want to avoid debt or attend an out of state school?
  • One of the most difficult things that many students are unprepared for is managing their money in college. It may not sound like a difficult prospect, but college offers a lot of temptations and many students don't handle it very well. Remember, you're there to get an education, students are supposed to live cheap!
  • Even if you're already in college, it's not too late to start searching for scholarships and grant money. This is free money that you won't have to pay back so do everything you can to get it. Your financial aid office or counselor can provide you with details and you can even search for scholarships online now.
  • Are you planning on working full time or part time while in school? It's much easier to avoid student loans if you have a job while in school, although you don't want to do it at the expense of your grades. Finding the right balance between school and work can be difficult so make sure your schedule adheres itself to the situation. You might consider online classes or night classes if you plan on working full time.

If you have any questions, please visit our Frequently Asked Questions page.