Dwindling federal and state aid; drops in fund raising and lower endowments have forced many universities and colleges to raise tuition prices and reduce financial aid programs. The news on education costs is mighty grim, but you still have a few creative ways to keep your dreams on track.
So, what a cash-strapped student can do? These are six alternatives to student loans, which can make your life easier after the graduation.
1. Accelerate your college education. Accelerated classes will cram a semester’s worth of learning material into 6 or 8 week sessions. These classes, while intense and harder, will help you to move up the graduation date. You can land your degree at a reduced cost.
2. Join a transfer student. This may save you some serious cash. All credits earned at an affordable community college might save you nearly a thousand dollars in tuition.
3. Go where students are wanted. There should be university or college near you that’s dying to have more students. Find a school, fire off the application and watch your college education cost drop.
4. Find a tuition-free school. Overwhelmed by the likelihood of paying massive student loan after the graduation? Why not join a tuition-free school? You can get the college education without a hefty price tag. And the catch? You may need to work. Some colleges require students to work ten to fifteen hours a week
5. Lock in a tuition. If you can’t stand how college tuition keeps on shooting up? You should consider locking in a tuition rate for 4 of 5 years. You will be guaranteed to have a more affordable tuition.
6. Work in community service. Why don’t you do some good while wiping out a huge chunk of student debt at the same time? College graduates can cancel a portion or all of their federal-student debt by taking public-service jobs — usually lower-paying positions that serve low-income residential areas — or by volunteering. Student loan-forgiveness programs can be given to everyone from nurses to teachers to Peace Corps volunteers to young doctors and lawyers.
