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How To Finance Your College Education Without Going Into Humongous Debt

Updated on July 12, 2012

If you want to go to college, you can.  You may have been told otherwise, but I am here today to let you know that you can gain access to college education today.  I read a hub about college being overrated, and it sparked my thinking.  There are pros and cons to going to college, and without proper guidance, college can be a burden instead of an asset.

First of all, college is one of the most expensive undertakings you will ever do in your lifetime; therefore it takes much forethought.  I think that an educational fund should be a default when a child is born.  If a child does not use this money for college, nothing is loss. There will be many good reasons to use the money. Saving money is always a good choice. 

How To Find A Scholarship


Children learn how to prepare for their future through observing their parents and close relations. Our children should be given the best education we possible can give them so that they will value their early school. We should teach them to do the best they can, and college will pay for itself. College is not a babysitter or a time to kick our kids out so we can have some freedom…..I think some people do this though. College is a developmental stage when young people turn into responsible adults. College is when a new level of maturity happens in a child’s life. There certainly are other opportunities that can mature a child, but I will not get into them here.

Secondly, have a goal for attending college. What major will you be studying? What career are you pursuing? Why are you attending college? These questions must be answered honestly, and only you know the answers. Can a Community College/Two-Year college satisfy your need? Community College is an excellent choice to help a student prepare for a more rigorous academic career, and it is less costly than a Four-Year College. I have known some students to start at the Community College and then transfer to a Four-Year College and finish their degree. An Associates Degree may suit your college and career goals. Make sure to check with your state about scholarships. In some cities in Michigan, the Community College has partnered with the Schools to award deserving students with Free Tuition to get their Associates Degree. I think this is fantastic. Remember when I said, teach your student to do the best they can in school. In many instances, your do not have to be an honor to student to take advantage of scholarship offerings.

If you need a loan, get a government loan. Government loans for students are low interest loans that do not have to be paid until a student completes their education. Repayment starts months after graduation.

Students Help With Financing Their Education

Find creative ways for students to gain access to college education.

Students can work summer jobs and save the money. All monetary gifts a child receives can be put in their educational fund. This is certainly easier said than done. But if children have conscientious parents, at least students will be aware of what they will face in the future.

Lastly, parents can get a 529 College Savings Plan for college. You make regular contributions to this plan where you save money for college. Read the policy and penalty's for early withdrawal, if any.

As for me, I received college financial assistance from four sources:

Myself, My parents, the College and the Community


Submit a Comment

  • Treasuresofheaven profile image

    Sima Ballinger 6 years ago from Michigan

    incomeguru, thanks for mentioning that some companies offer tuition reimbursement programs. I appreciate your visit.

  • incomeguru profile image

    Oyewole Folarin 6 years ago from Lagos

    In addition, one can look for companies offering tuition reimbursement programs.

    You can check the hub below for more information.

  • Treasuresofheaven profile image

    Sima Ballinger 7 years ago from Michigan

    SJKSJK, Scholarships can be gained through being consistent -- not brilliant. There are different kinds of scholarships: academic, athletic, talented (music, art, etc..), community service, cultural, unique abilities, demographic, disabilities, and the list goes on and on. Students should find out their uniqueness and showcase their talent -- and they will be discovered.

    Thanks SJKSJK, yes, Scholarships Work Every Time!!!

  • SJKSJK profile image

    SJKSJK 7 years ago from delray beach, florida

    Scholarships work evry time.

  • Treasuresofheaven profile image

    Sima Ballinger 7 years ago from Michigan

    Happyboomernurse, you have taken this Hub to another level. You make an excellent point about choosing a major - all majors do not lend itself to a lucrative career. Choose your major wisely, and maybe consider choosing a career that is practical - especially in the economy were are in now.

    One other major resource is the FAFSA (didn't have FAFSA in my day) - students need to make sure and apply, because money is available for those who qualify.

    Thanks you so much Happyboomernurse - your comments are always welcome here!

  • Happyboomernurse profile image

    Gail Sobotkin 7 years ago from South Carolina

    Well done hub with very good tips about access to getting a college education. I particularly like your suggestions to look into community and state colleges and to fund college by a combination of means including scholarships, government loans and grants and the student working to help keep loans down. Also, it is important to think through what one's goals are and choose a major carefully. Some degrees will offer a much higher return on the investment and make repayment of loans relatively painless, while others may lead to low wages that make paying back loans a real hardship.

    I think you kept your advice well balanced and this hub will be useful to parents and students who have college aspirations.

  • Treasuresofheaven profile image

    Sima Ballinger 7 years ago from Michigan

    Susan52, Wow! what an awesome story about your sons college experience. I am so glad you came by to share your story. It is possible to attend college and come out, debt free.

    You have given the readers hope today! Congratulations for you and your family. I agree, avoid the loan if at all possible.

    Thank you so much!

  • Susan52 profile image

    Susan Deppner 7 years ago

    My older son received a full academic scholarship to college - studying pays off! My younger son decided he wanted to do his military service first and just graduated from college, paid for with his GI bill benefits. He was wise enough to save money when he worked as a teenager, so he made college his full-time job and graduated in 2 1/2 years. I would encourage anyone who truly wants a college education to apply for scholarships and grants and do their best to avoid loans. What a wonderful feeling to graduate and be able to move on with your life and career without that burden of debt.