There are quite a few ways that you can pay for college without having to take out student loans. One of the most obvious ways is simply to pay for your degree in cash, by using money that was saved by your parents for a college fund. You also can apply for aid such as grants by using the Free Application for Federal Student Aid. Finally, pick an affordable school such as a state school to limit the amount of tuition cost.
Key Takeaways:
- Americans owe over 1.7 trillion dollars in student loan debt according to the Federal Reserve.
- The average student debt per graduate has risen to a record high in 2020 which is $38,792 per student.
- It can take between 10 and 30 years to repay your student loan debt so only take it on if it’s necessary.
“Do you compromise on the dream of helping your child go to college and maybe limit their future prospects?”
Read more: https://www.ramseysolutions.com/saving/pay-for-college-without-student-loans
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