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The article goes on to talk about how “sticky” student loans can be. Even during economic hardships this is a loan you can not get rid of, even in bankruptcy, the most dramatic of choices. The perceived need for a student loan comes from the cost of tuition. “……as tuitions rise, many people are borrowing heavily to pay their bills. Some no doubt view it as 'good debt', because an education can lead to a higher salary. But in practice, student loans are one of the most toxic debts, requiring extreme consumer caution and, as Dr. Bisutti learned, responsibility." What if college tuition was on a cash system only? You couldn’t finance it as if it were a car, home, or furniture. If you truly wanted to go to college and could only pay cash you would be forced to purchase the amount and quality of education that your bank account allowed. In that system you would look for the seller who offered the best deal or discount, just as you should do for any other purchase. Additionally, you would look for non-financed ways to assist you in buying an even better education than you could afford on your own. I recently sat in a meeting at the local Planning Commission and listened to a representative of a rowing club pitch her case to expand the club. In addition to the benefits she said the club would be bringing to the community they offered to pay 75% of a student’s college tuition as long as they maintained a “B” average or better and were a member of the club who competed in rowing events! That made me think there are probably many other unique options out there for people to get free tuition assistance.
Here are some ideas to assist with the cost of education. *Apply for a state grant *Go to a community college and pay less for classes *Get a job at the college (most will offer you free classes) *Employer assistance – many of them (especially banking and education fields) offer tuition assistance or reimbursement *Join the National Guard or military reserves (work part time, learn a skill, build a resume, and get tuition assistance) *Academic scholarships *Stretch out the time it takes to graduate – take the same amount of classes but do it in 6 years instead of 4 thus reducing your yearly tuition commitment *Athletic scholarships *Study a subject on your own and then test out (use the CLEP testing program)
Learn many easy ways to reach your financial goals at BowmansMoneyCollege.com. |
