College

Avoiding Student Loan Debt: Alternatives to Borrowing for College

December 16, 2024

2 min

Contributors
Subscribe to our newsletter
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Educational Pathway Alternatives 

Instead of heading straight to a four-year university, think about starting at a community college, where the tuition is generally lower. Community colleges offer a great way to save money on your first two years of education while you earn an associate’s degree, which you can then transfer to a four-year institution to complete your bachelor’s degree

Scholarship and Grant Opportunities

Scholarships are a form of free funding that never needs to be repaid, making them a great way to reduce college costs. They can come from companies, competitions, and nonprofits. Start your search locally by checking with local organizations, businesses, and your parents' employers. Your high school counselor can be a great resource; be sure to also check out Level All’s Scholarship Finder tool.

Work-Based Learning and Tuition Assistance 

Many employers offer tuition assistance and tuition reimbursement programs to help employees pay for their education. With tuition assistance programs, your employer pays your tuition directly to the school. With tuition reimbursement programs, you pay your tuition upfront, and your employer reimburses you later. When considering a job, you should always check to see if they offer tuition assistance. If an employer doesn't offer a program, don't be afraid to ask them to start one.

Creative Financing and Cost Reduction

Affording college can be more manageable with creative financing and cost reduction strategies. These can include taking a gap year to save money, freelancing for extra income, or leveraging military education benefits. Studying abroad can be cost-effective, and negotiating tuition or housing fees further reduces expenses. Combining funding sources like scholarships, grants, and part-time work can also help manage costs.

View All