Saturday, June 29, 2013

What students can do to pay for college.

What students can do to pay for college.
By Keith Bunn Jr.
June 29, 2013

I know this isn't the normal blog posting day but, I just read this article from the Wall Street Journal about student loans and how much of an issue it is in this country, and it got me thinking about what students can do to pay for college. Here’s what I came up with.

What students can do to pay for college.

1) Figure out what you want to do. How does that annual income compare to how much the degree will cost you? If the degree costs you 80 K, but only pays 40 K a year, you might want to think of doing something else.

2) Figure out where you want to go to school at and Why. If you want to go to a certain school because your friends are going there, that’s not a good enough reason. Figure out what school will give you the most bang for your buck? Remember, it’s the degree that you get is what is important, not where you got it.

3) Figure out if you can afford that school. If not, you can’t go there. Student Loans are off the table!

4) Is mom and dad able to help out? If so, how much and for how long? If not, what’s next?

5) Figure out what grants you can apply for.

6) Apply for Thousands and Thousands scholarships! I know that can be tedious and hard work, but so is paying off student loans for decades. Billions of dollars of scholarships go uncollected because no one simply applies for them.

7) Work to pay for college!!! Working just 20 hours a week while going to school full time WILL pay for in-state tuition. On the off times, bump your hours up to 40 hours or more. You’re going to school to get an education, not to play beer pong.

8) Don’t do anything extra like going out to eat, going on expensive trips, like “spring break”, etc… or go further into other forms of debt like using credit cards. I know you are use to the lifestyle your parents provided for you when you were growing up, but that’s their lifestyle, not yours. And by the way, it took them 40 years to get to where they are now. You’re just starting.

Remember, almost 50% of college students that go to college Don’t graduate! They don’t graduate because of other forms of debt, like credit cards, it’s not what they expected, etc… but they still get to bring home their student loans, without the degrees to help pay for them. Also, the majority of the college grads today are Not working in their fields of study. Not because they couldn't find jobs in those fields, but because they have chosen a different path to follow. 
I know these examples sound, and probably are harder to do than me just typing them on the computer. I know it is much easier to just go out and get a student loan, but like the article says, when you have student loans still over your head in your 30's, 40's, and 50's, it doesn't allow you to do certain things you want to do just because you can't. So think outside the box. Don't be like the flock of sheep that jumped off the cliff just because the lead sheep did. Be your own person and do this college thing right!

The reason I do this is to give people hope and to try to inspire others. To make them think about their finances, whether they are young or old, so they can win financially.
If you have any questions for me about my posts or about your finances, you can call me at (616) 454-2046 or e-mail me at You can also find more money news, facts and ideas, on my Facebook and/or Twitter pages. I'd be grateful if you followed me. Thank you!

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