<p>"Scout out scholarships, take courses online, use your skills to make money and get a summer job." ...</p>
<p>Duh. Good luck with that.</p>
<p>Rebekah</a> Bell: It's Possible to Graduate Debt-Free. Here's How - WSJ.com</p>
<p>It’s nice that she could get a need based scholarship and an academic scholarship. Unfortunately, many students will qualify for neither - and even if they do, it won’t amount to much in terms of the overall cost. The truth is, many families have an EFC that precludes need based aid. Those families will most likely have to kick in some money in order to help the kids graduate without debt. I think it is important for parents to understand this, since so many fail to save.</p>
<p>The problem with articles like that one is that too many parents think things will work out that way for them It’s a nasty shock to find out when the EFC and NPC calculators expect far more than a family can pay. Even nastier is the realization is the EFC is usually the LEAST you are going to be paying, and most likely you are going to be paying a heck of a lot more because getting full need met based on EFC rarely happens. No school guarantees it. And them merit aid is usuallly integrated with financial aid, so whatever you do, the numbers tend to come out about the same. Usually right about at State U prices.</p>
<p>I’m graduating debt free.</p>
<h1>swag #yolo</h1>
<p>Graduating college debt free is possible! It just takes choices that many people on CC don’t want to make. Let me make some suggestions:
- If you have top grades and/or scores, forget the expensive private schools unless they give out big scholarships. Consider going to schools that will give out big merit scholarships.
- go to school in state and get a scholarship and lower tuition
- Get a part time job. This could include tutoring, babysitting and other types of occupations.
- Consider attending a community college and then transferring to your local state university. This could save a bundle.
- Check out fast web for scholarships. In addition, check out scholarships offered by any school that you are interested in.
- If you are interested in attending an out of state , state university, check out the rules for getting instate tuition. Simply working in a state that has the college you want for a year in advance, can provide instate tuition.</p>
<p>CLEP’s are mentioned and are a major way to save money. A single CLEP can earn 3-6 credits for $75 total.</p>
<p>The same can be said for AP exams. A single exam could give you 3-6 credits. The prices range from free to however much your school charges. I’ve never had to pay for a single AP exam and received 40 credits from AP classes alone. </p>
<p>We can just add IB to the list. This program kicks a great amount if credits out of the way.</p>
<p>Ridiculous attempt to whitewash a serious problem. The WSJ is famous for its social Darwinist bent – in this case: just be smarter.</p>
<p>Most students will not qualify for large merit scholarships. My father put himself through a 4-year college working 20 hours a week at a diner and full time in the summer. That was when tuition prices made it possible to do so. That simply is not possible anymore because of runaway tuition, even at state schools. Sorry but you cannot get a bachelor’s degree at community college. Furthermore, most people cannot simply achieve “top grades” while working one or more part-time jobs. Which is it, grades or money?</p>
<p>Oh and AP exams at our HS cost $85 each.</p>
<p>“Oh and AP exams at our HS cost $85 each.” </p>
<p>Even at $85 per exam, this is less than the cost of most college courses. </p>
<p>There are many avenues to completing a college degree, not all of them take 4 years. My sister and her husband completed their degrees while raising a family. It took them 11 years for both to get their degrees (back-to-back) and both worked at least 1 job each to accomplish this with no residual loans. Obviously this is not the ideal situation, but it can be done. </p>
<p>My daughter and I scoured until we found schools that fit her needs both academically and financially. She settled on a private out of state school that offered enough merit scholarships and grants to be lower than our State Flagship in Texas. She will be going to college and graduating with out loans.</p>
<p>If you are pursuing a marketable career taking on some debt can be a smart move. Think about it…would you pay your bills when you are making $8 an hour or $30 an hour? Given the current interest market the math would say its cheaper to borrow it.</p>
<p>Is it easy? No. Is it possible? Yes. However it does take EARLY planning and preparation.</p>
<p>I’m a single mom with an EFC of right at $10,000. Too high for almost any need-based aid (some schools did offer SMALL need-based awards), but too low to pay full freight at even a state flagship with (federal) loans, so getting my HIGH achieving S into a school he deserved was a responsibility I took very seriously.</p>
<p>When my S began his freshman year of HS, I told him that he may have been allowed to slack a bit up to that point, but starting then his school records were going to follow him until after he started college.</p>
<p>I logged into his school’s website DAILY and watched his grades and test scores. If there was an assignment that wasn’t turned in or if he got an exceptionally low grade, he was answering to <em>me</em>. If he received several low grades in a class, I was asking if he needed additional help or if I should find a tutor before waiting for the school to reach out to me.</p>
<p>I helped him register for classes each year and made sure he was on track not just to graduate, but for the state’s acadmic honor’s diploma. We discussed various electives and the benefits or negatives of each. I felt this was my responsibility and didn’t want to entrust it to the school to find out during senior year that he was one class shy of an honor’s diploma because I hadn’t stayed on top of it.</p>
<p>When the opportuntiy for dual-credit or AP classes occurred, we also discussed the benfits and negatives of each. We opted to do the dual-credit in foreign language although the teacher discouraged it saying that students could simply test out of courses because the GPA would carry over and it was an easy way to start college with a STRONG GPA. We opted not to pay for him to take a dual credit pre-calc course even though most top students were doing so because I told him as an engineering student calculus would be the first required math class and there was no sense in paying to take a course that wouldn’t be required.</p>
<p>After junior year he had never received a grade below an A- and with weighted grades his GPA was well above 4.0. He graduated 5th in his class, but he wasn’t eager to finish first or second anyway as he didn’t want to have to speak at the graduation ceremony.</p>
<p>As a sophomore he took the PSAT and then I FAUGHT with the school so he could take it again as a junior. When I tried to explain to the school why I wanted him to take it, I was continually discouraged by them as they didn’t seem to know the process. Although he didn’t score high enough, the effort and small fee for him to take it was well worthwhile.</p>
<p>Although he got a solid score the first time he took the SAT (700M,640V), he felt he could improve. I ensured he spent time going through prep books and he retook the SAT and took the ACT (although only a few students from his school do so each year). He also took several SAT IIs (the only student in his school to do so) and I located a tutor to help him prepare before the tests.</p>
<p>I encouraged him to be involved with activities he enjoyed, but also STRONGLY encouraged leadership positions and senior year he was president of one club and vice-president of another. I also encouraged volunteer work and he became involved with Habitat for Humanity as soon as he was old enough (I believe 16). When he had the opportunity to travel abroad the summer after his junior year of high school, I encouraged him to do so and he spent 6 weeks abroad in an immersive language program and is now very high functioning in a second language (Spanish). </p>
<p>We began touring colleges the beginning of junior year and I was already familiar with terms such as merit aid, need based aid, 100% need, and the CSS profile making me well prepared to ask questions. We toured 10 schools (the farthest being a 14 hour drive from our home) and then revisited 2.</p>
<p>During senior year I took on the role of being my S’s secretary which was almost a second full time job (and I was finishing my own Master’s degree at the time). It was an EXTREMELY stressful, hectic year. I kept track of all application requirements and which were completed as well as deadlines. I also started seeking out scholarship opportunities and then kept track of those requirements and deadlines (as well as all the senior year stufff - ordering announcements, planning an open house, etc, etc). I still wonder when I actually had time to breathe!</p>
<p>My S chose to apply to 6 schools. At 1 (Bama) we already knew he was automatically eligible for a full tutition scholarship + a $2500 annual stipend from the school of engineering. No other offer he received was comprable. I told him he didn’t need to make his decision on finances alone, but he opted to attend Bama.</p>
<p>On top of the Bama merit award, I had him apply for more than 30 outside scholarships. I had him apply to national awards, local awards, awards specifically for engineering, and any others I thought he had a shot at getting. He didn’t receive any national awards, but did receive 4 local awards. 3 were relatively small ($500-1000) but everything helps! But one was for over $5000, making the time and effort to apply well worthwhile.</p>
<p>During my S’s freshman year I encouraged him to become involved in his major’s professional organization and encouraged another trip abroad (a short duration, service trip). When he started struggling a little with his courseload first semester we discussed options. He wound up dropping a class that he’d wanted to take, but didn’t NEED to take and then completed the semester with a 4.0 GPA.</p>
<p>I knew that getting employment in his field after freshman year would be difficult, so I encouraged him to travel abroad again. He decided that he wanted time to reconnect with family and friends and after looking into several programs made the decision in March not to travel abroad for the summer. Then as he was preparing for finals and packing to move home, I set out to find him internships that were not yet filled to apply to. I was on EVERY website with job listings from Monster and Careerbuilder to Internmatch to Indeed and Simplyhired. Often I would just Google “summer 2013 engineering internships”. I found MANY companies still hiring, but especially for freshman the positions were not very high paying. I considered the logistics and costs associated with him getting an internship where we didn’t know anyone, then opted to focus my search on areas where we had a relative or family friend he could stay with. I found 6 positions for him to apply to and nagged him to write cover letters in between prepping for his finals. Of those he got 2 interviews. And based on comments on many of the threads here on CC he may be the only student to get a paying internship in his field the summer after his freshman year. He was able to spend the summer with relatives and not pay any living expenses, so is able to save the majority of the money he is earning. Did finding the internship take some luck? Yes. Did it also help that I’ve been encouraging him to build his resume since he was a freshman in HS? Did it also help that I spend A LOT of time searching out opportunities? Did it also help that I encouraged him to establish relationships with instructors who he could ask to be references? There was A LOT of work behind the scenes!</p>
<p>Not only did my S finish his first year debt free, but will return to school with several thousand dollars sitting in the bank.</p>
<p>Some may call my actions helicoptering. But my S is VERY independent (note above he travelled abroad for 6 weeks when he was still 16) and is very responsible (note above he finished his first semester of college with all of its distractions and new experiences with a 4.0 GPA)…it’s just that students don’t understand the consequences of their grades and activities when they are 14-15 year old high school freshman, they don’t know the process of applying to colleges and seeking out financial aid, and they don’t know the process of finding, applying to, interviewing for, and getting internships/jobs until they are TAUGHT. If it’s knowledge I have and it is essential to my son’s future, then it is my RESPONSIBILITY to make sure I spend the time and effort to make sure I help him through every step.</p>
<p>Is it easy? No. But is it possible if you are willing to put A LOT of time into it, willing to deal with MANY high stress days, and start planning EARLY? Yes, I have to say that my S is evidence that it is possible.</p>
<p>Although jrcsmom’s approach worked for her, I believe that there’s a less intensive and easier approach. </p>
<p>What parents don’t realize is that college planning starts when the child is born. If the parents put away a certain amount every year for their child, they could easily have one or two years worth of the university’s tuition or even COA. Parents should look into their state’s prepaid programs. Prepaid programs can easily cut the cost of tution down 50%. Another plus to this is: You’ve already paid for it! Therefore any funds your child receives when they go off to college is for housing, meal plan, etc. not their tuition. </p>
<p>Involvement and communication is key. Both the child and the parents need to be on t same page. You can’t have a kid messing around in their freshman and sophomore year when the parents are hoping for merit aid to lower the cost of college. The parents must communicate to their child what they can and cannot afford. They must explain their expectations to the child. The child just tell their parents what they’re capable of. </p>
<p>My situation was a lot like jrcsmom’s situation. My mom wasn’t as intensively involved as jrcsmom was, though. She observed from the side lines and really let me take the reigns. If I got a low grade, she’d tell me she saw it and would ask me what I’m going to do about it. She checked in periodically to make sure I was doing fine. If she felt that I was struggling, she’d intervene and then we’d change our plan accordingly. The college process doesn’t have to be stressful or hectic. As they say “Keep calm and carry on.”</p>
<p>I’m able to go to college without any debt. It feels great. I can’t wait until the first week of September to get that check. 
</p>
<p>
Some schools charge every more than that. One of my past high schools charge $115 for AP exams. I was fortunate enough to be at a school that offered AP exams free of charge.</p>
<p>Want to know how to actually graduate debt free? Have the states adequately fund the schools and get rid of administrative bloat. There’s a reason that California and Wyoming students graduate with much less debt than their New Hampshire counterparts.</p>
<p>Jrcsmom, I really admire you and your son’s efforts and accomplishments! I wish that my parents had helped me keep track of deadlines and research scholarships.</p>
<p>Sometimes, not everything works out nearly as perfectly. Keep in mind though that not graduating debt free is not the end of the world. For degrees at specific institutions that on average lead to solid jobs, a non-debt free education can be quickly paid off when the student enters the work force. Sometimes, balancing expenses and savings helps a great deal (I don’t see a problem with living at home after college for a bit to save a few thousand a year).</p>
<p>@ Niquii -</p>
<p>Of course that’s the ‘right’ way to do it. We’ve all been told that for well over a generation. Everyone should know to start saving for college as soon as their child is born, but for many it doesn’t happen.</p>
<p>Some parents just don’t envision their kids going to college. Perhaps they didn’t go to college themselves and don’t believe their children will take that path. Perhaps they struggled in school and think their children will do the same. Sometime even if those parents could afford to put a little money away, they just don’t think it’s necessary until it’s too late.</p>
<p>For others, it’s just not a financial possibility. For myself as a single mom, I paid all my bills, but didn’t have a lot left over at the end of each month. Could I have lived a less expensive lifestyle - I suppose I could have, I don’t have to own my own home, I could have rented a small apartment or lived in a trailer, but I’m pretty frugal as it is so at some point that would have meant sacrificing my son’s current lifestyle. But for some parents they are JUST getting by with their income and they really can’t manage to put anything into savings. I happen to live in an area with a fairly low cost of living and can cut corners and get by, but for those in high cost of living areas, the money really just isn’t there.</p>
<p>For others they have good intentions, but then…life happens. Some parents start saving, but then lose a job and have to use that money to provide food and shelter. Or someone in the family develops health problems and there are related bills. Although they have good intentions and often have a plan, suddenly they just can’t make it happen.</p>
<p>But even for the parent’s that didn’t or couldn’t save a single penny, yet still don’t qualify for any need-based aid, if they want to put forth the time and effort and start making efforts as soon as their students enter HS there are options out there.</p>
<p>My S’s senior year was a little more stressful than I would have liked, but it was WELL worth it…he is WELL worth it. Besides I’m very type A and after he went off to college, I found myself VERY bored and now volunteer for 3 different organizations on top of my full time job. Helping him navigate everything he needed to that year gave me something to do. :)</p>
<p>jrcsmom- you are to be applauded! You went well beyond the extra mile for you and your son. Being debt free will allow him a lot of choices in his near future that those saddled with heavy debt won’t have.</p>
<p>We took a similar but less intense version ourselves, and child 1 will graduate debt free. It took sacrifice and a little ego swallowing too at times but well worth the possibilities it creates.</p>
<p>My hope would be that forums like this or even presentations for parents in early elementary and middle school would take place to allow others access to the great info here and elsewhere.</p>
<p>That ego swallowing can be pretty difficult for an 18-year-old, but it pays off.</p>
<p>No mention of working full time at a place that offers tuition reimbursement and taking evening classes? That’s what worked for me, working on an IT help desk starting sophomore year. Obviously delayed graduation, but was debt free and had gained several years of job experience.</p>
<p>There’s student debt everywhere.</p>
<p>
Although, I don’t deem this the “right” way, this is a way. </p>
<p>
Yes, there are options out there. </p>
<p>Jrcsmom, my mom is a single mom, too. She has three kids leaving for college at the same time. The observant approach worked for our situation. There was no need (or time) for being stressed. Your approach worked for yours. It’s understandable since you said you’re Type A. </p>
<p>
Where are we going to get this money? The taxpayers don’t want their taxes to increase. Nobody wants a deduction in salary.</p>