How to leave college with zero debt
February 4th, 2010Going away to college can be an expensive time, and nowadays, students are graduating with mountains of debt.
So how can you go to college, get your education, have a good time and graduate with zero debt (or at least as little debt as possible)?
Get a part-time job
One of the best ways to at least minimize your debt during college is to get a part-time job. A regular income can really help you get through your time there – even an extra $200 a month will really go a long way to help you stay out of debt.
It is important that if you are planning to get a part-time job while at college, you look for one before you start your studies. If you wait until your course is underway, all your friends will be looking for jobs too – and there won’t be many up for grabs. So, get your name down early, and secure yourself a part-time job!
What’s more, if you can hold down that part-time job all the way through college, it may lead to a full-time job when you graduate. This will look great on your CV, and mean that you’re getting an income after college.
Split the costs with your friends
If you are living in communal accommodation/on campus, you could save yourself a lot of money during college by splitting the cost of almost everything with your friends.
For example, when you do your ‘weekly shop’, create a ‘group shopping list’ and split the cost of it evenly. Then make sure you eat your meals at the same time, so you can share portions (which will help minimize waste and will save you money).
Splitting the cost of your shopping (and other things, such as activities and books) can really help reduce the amount of money you spend while at college, and in turn, reduce the amount of debt you graduate with.
So, the two points highlighted in this short guide should help you keep on top of your finances while at college and minimize the amount of debt you graduate with. Whenever you are thinking of spending money, just think about whether you can really afford to do it…and if you can’t, then don’t!
For more information and debt advice, visit debt advice now.
