College Debt – how to avoid it, and how to get out of it

Because most college students are using loans to finance their college education, debt level of recent graduates is rising rapidly. On average, students graduate owing $12,000-$16,000 in student loans and another $2,000 in credit card debt. Is this price you have to pay for higher education, or can you avoid college debt in first place?

The secret to avoiding college debt is to plan wisely and take advantage of many opportunities to reduce college costs before and during your college years.

Planning ahead You can avoid college debt by making wise high school decisions:

Take advanced placement classes Take all advanced placement classes you can in high school--every AP exam you pass means one less class you need to take in college.

Keep your grades up Scholarships can be competitive, and even grades you make early in your high school years can mean difference in winning or losing. Don't make mistake of thinking you can save hard work for your junior and senior years!

Stay involved Scholarships also may depend on community and school involvement.

Search for scholarships and grants Scholarships and grants are best money source for college because it is money that doesn't have to be repaid. To find out about grants and scholarships, visit your high school career counselor and Financial Aid Office of your intended college. You can also search internet for scholarships and grants.

Investigate public service options The United States Military, National Health Service Corps, and Americorps will give you money for your education in exchange for your signing up for a “tour of duty.” The time commitment ranges from 10-12 months to 8 years.