Do you need a large student loan?
By Dr. Kit
Not necessarily! Clark Howard, an author and consumer expert, discusses various ways that students can pay for college without running up huge amounts of student loan debt. One thing to consider is which school you will attend. Does it make sense to go to a school that is going to cost more? Maybe not! If you will need a four-year degree to work in your chosen career, you may want to consider going to a local community college for your first two years. You’ll generally get the same education at a much lower price. Do you really need to move far away from home if you can’t easily afford to do so?
Students should also search for free money - scholarships and grants. If a family can demonstrate a financial need, there are likely grants available that can be applied for. Free money is the best money!! You may also have the possibility of working a part-time job locally or right at the college or university.
Consider these options before taking out too much money in student loans. The last thing you want is to have to pay back thousands of dollars after graduation, especially when you can be having some fun with this money! (And paying your other bills, of course.)