Go to College Debt Free

College loan debt is a big issue and it is likely only to get bigger.  As a teacher/coach/leader I hear many newly graduated students talk about how they are restricted in job and lifestyle choices because of a huge student loan debt.  There is a better way.  Go to college debt-free and graduate without the burden of having to pay anything to anyone.  Talk about freedom.  That should be the goal for the kids we are raising and the kids we are leading.

Nothing in this post is a silver bullet (like get a full academic scholarship because you are brilliant or a full athletic scholarship).  None of these will likely work by themselves to help your child accomplish college without debt.  However, if you take 5 or 6 or 7 of the 15+ suggestions listed you will be well on your way to accomplishing this huge goal.

Let me caution you:  If you are looking for an easy way or normal way, this article will not be for you.  Most of these suggestions are counter cultural and require hard work and discipline.  My philosophy would be work hard now, party when all your friends are repaying loans.

Two of the best resources that I have come across on this topic are "New School" by Glenn Harland Reynolds and "Smart  Money, Smart Kids" by Dave Ramsey and Rachel Cruz.  Citations below are credited to them.

Why is it a big deal to go to college debt free?

• Proverbs 22:7 - The Borrower is slave to the lender
• Student Loan debt is not allowed to be cancelled out in a Bankruptcy
• Courtney Mauna Story p. 14 in New School by Glenn Harlan Reynolds - She took out student loans in the amount of $120,000 to finance a degree in Women’s Studies/Religious Studies. Her degree did not help her get a job and she still owed over $700 per month in loan payments after college.
• A student loan can restrict your options and lifestyle after graduation. Instead of a college education opening doors in life, many times those with student loan debt find doors slamming shut. Instead of taking a dream job in a field where you love the work, can make a difference in the lives of others, debtors are forced to look for careers based solely on income potential.

How can you pay for college, get a great education and graduate debt-free?

• Begin Saving Now. Whether you are in the High School Class of 2016, 2022 or 2032 (like my son) saving a lit bit each week/paycheck/month can make a big difference.  $100 a month for 18 years is $60,000 when in an appropriately aggressive mutual fund.

**** I recommend that students from 6^th -12^th grade save 25% of all income (paychecks, gifts and allowances for college expenses).  I earned enough to pay for one semester of college working in a steakhouse for several years during High School.

• Maximize Scholarships and Grants. These awards never have to be re-paid. Smart Money, Smart Kids story on page 169 and 177. One girl filled out 2 scholarship applications every day from Christmas of her Senior year in HS until Graduation. She was rejected many times but earned enough in scholarships to pay for 3 full years of college. Another student who was admittedly very average in intelligence and test scores earned over $500,000 in scholarship $. She was able to go to a private undergrad school and a private Ivy League grad school for free. There are literally Billions of dollars available every year in scholarships. You have to work hard to find them, but they are there.
• Use Parents Discounts. Some colleges award scholarships or discounts to parents for various reasons. Christian Ministry, Military Service, Alumni parent discounts all exist. I knew a janitor at a local college who earned $20,000 per year, but whose kids got to go to the college for free ($20,000 discount). 
• Begin taking college courses in 11^th Grade. Knock out a semester or entire year of college before ever stepping on campus.
• Go to a Community College or local State University for 2 years before heading off to your final destination. CC/State College classes cost far less and allow you to commute saving on room and board. At Penn State University  ½ of expenses are room and board for PA students.  If you can knock out a year of college without paying room and board the savings can be incredible.
• Take summer courses. They are typically cheaper and no room and board fees.
• Live Off Campus. When I went to Liberty University typical room and board costs were around $10,000 per year (only 8 months). By renting a townhouse ½ mile from campus (closer to some classrooms than dorms on campus) my costs were around $400 per month for room and board or $5,000 for 12 months.
• Work While in College. You can make around $6,000 per summer break if you work full-time plus winter break earnings and around another $6,000 during the 8 months of college if you work 20 hours per week. That equals close to $13,000 in earnings or close to $50,000 during college. Many on-campus jobs just require you to be present (manning a desk or spot in the Library, Rec Center, Help Desk, etc.). You can do school work while getting paid to pass out a few basketballs or give directions to research material.  Where I coach we literally have kids getting paid to watch espn on the computer.
• Go to a College You can Afford. Refuse to go into debt.  Don't pay for the name.  Great, High Quality education is available at public Universities.  Do your research and you can probably even get a better, specialized education in a public setting than in a private college.
• Co-Op Programs. Find a business to pay for your college courses.  These programs exist, but they are hard to find.
• Stay in State... Or go WAY South. In State tuition rates are almost always cheaper than if you cross state lines to go to college. Many Southern colleges are desperate for students who have graduated from Northern High Schools. They offer huge financial incentives to students from Northeast High Schools.  
• Understand What you are Paying For. Are you going to a certain college because of the courses they offer, the professors that teach there, a certain program of study the connections you can make, the opportunities it offers or are you going because they have good food, nice dorms, a rock climbing wall, cool concerts and excellent sports teams? You can still go to football games at a college even if you don’t go there for classes.
• Go to a Free College. Yes, they do exist. Mostly they are military schools that require service after graduation but Moody Bible Institute is free as well.
• Go to a College that Pays you to Attend. Consider a school like Apprentice in VA. They pay you a salary, pay for your school and room and board.
• Consider Military Service.
• Finish in 4 years. Choose your major wisely, Stay on Track, Communicate with your Advisor and Pass your Classes. The less time you are in college, the better.
• Take Extra Courses. Almost all colleges charge by the semester, not by the course load. So a person taking 12 credits is paying the same as someone taking 18 credits.  120 credits/12 per semester = 10 semesters of tuition and room and board.  120 credits/18 per semester = 6.7 semesters.  If you've knocked out even a few classes over the summer or in High School you could be out in 3 years and save a ton of $$$ on room and board and tuition.

I realize that not every suggestion is going to help you, but hopefully you can find a few ideas in here that makes the dream of graduating debt-free a reality.