8 Ways of Reducing Student Loans

I  want to state here that my radical anti-debt approach to school in no way means I'm not sympathetic or understanding to those who had to take out student loans. In fact, I'm doing this for YOU. Because we're all stuck in an unhealthy cycle, and I'm trying to show that there's a way out.
I also know that not everyone can go to school completely debt free. But, EVERYONE can greatly minimize his/her debt by making a few key choices.
For example, one of my dear friends just graduated from an amazing school with a double major, a minor, reams of job experience, and a small amount in student loans. She went straight to a (real!!) job, and her plan is to pay of her loans in a couple (as in 2-3) years. THAT is the type of student loan experience we want. However, students find themselves taking out 50,000 dollars ( or even more) for liberal arts degrees from mediocre schools. It doesn't end well.

So how can we reduce the amount of student loans we take out?

1. Start early. Honestly, even eighth grade is not too early to start planning for college.  Figure out if you (or your child, for the parents out there) is capable of making good grades, high SAT scores, and start preparing him/her for the reality that he/she'll need to start working as soon as possible. Labor laws differ in various states. In the rural area I'm from, you can work in an orchard, or on a dairy, or babysit fairly young. The longer you plan and prepare for realistic plan of action, the better you'll be. Even in cities, a sixteen year old can work at Taco Bell or various establishments. But you have to start.

2. Make good grades. If you're typically a C student, make a goal to be a B student. If a B student, make a goal to be an A student. And prep for the SAT, if you're really serious. The SAT is just like any other test. It's not about what you know, it's about how much you've studied and if you know how to take the test. I scored pretty high in the verbal and language sections without any studying, but I read copiously throughout childhood and high school. In addition to bringing forth scholarships, learning a lot in cheaper-to-free high school will enable you to move more quickly through expensive undergrad academia.

3. Dream realistically.
Are you a student with a 3.5 GPA with combined SAT scores of 1500/2400 and do you hail from a two income, middle class family? If so, attending an out of state university is probably a horrible idea.Yes, it seems fun to get to go away to college. But, if you're taking out 10, 15, even 20 thousand dollars of loans a year, it truly is not worth it. Look at local schools, examine their programs, think about what you truly want to do.

4. Read the fine print. Schools are outrageously deceitful and love  claiming you need loans for the most random of issues. I'm often told I need loans for gas money, food, lodging, etc. And I go to school online. I always look directly at the tuition (and outrageous fee) cost and calculate exactly how much I actually need to pay, and budget accordingly. Ten thousand in loans a year is not a free ride. After four years in school, that's 40 thousand owed.

5. Work. Start working as young as you can possibly can, and save. Even smart, "poor", and savvy students who know their way around the financial aid system will probably still have a loan amount--even if it is relatively small. (I'm not sure about massive state schools. However, this is definitely true at private schools, especially Christian.) However, for someone who has been working for years already, seeing several thousand dollars a year in potential loans is no issue. A simple payment from the student's bank account will pay tuition and keep that student debt free. (This is how my siblings do it. My mom prepared them incredibly well academically and they started working rather young--12 and 14--so by the time they went to  college at 16, they were capable of paying the remainder of their bill.) Work in college. Most students are capable of working 20-30 hours a week--some even 40. Find jobs that pay well, so that every hour is wisely spent.

6. Never stop looking for scholarships or discounts. One of my siblings gets a new scholarship seemingly every year. He/she excels in his/her field and is rewarded for it. I found new scholarships every semester, and once even went into the financial aid office and told them that I had the cash to pay a certain amount, and they waived the rest. Never give up. Every semester is different, and every semester brings new opportunities. One of my brothers got class credit for a semester he took off to work the harvest. I discovered my school had a military tuition discount that applied for spouses. Originally, they tried not to give it to me since I'm enrolled in the online program, but I persisted, and now enjoy a slight discount.

7. Take ownership of your education. It is not your parents or grandparents' job to pay for your college education. It is YOUR job. I think it's awesome that some parents can afford to help out their kids, and in some ways, every parent can. (My mom's method was to tell us that we always had a place to live, if we needed it. That helped us save money for tuition, that would otherwise be spent on rent.) If you claim to be an adult, then don't expect your parents and grandparents to pay your tuition. It is kind, generous, and helpful if they choose to, but it still your responsibility. Saying that your job is school only works when you're 6--not 20.

8. Sacrifice. I lived at home with my mom for a year and worked 35 (sometimes even 39) hours a week at a difficult, exhausting job, while commuting and dealing with my full time school schedule. Still, I had to abide by my mom's household rules, which sometimes felt insulting to my responsible 20 year old self. It was a sacrifice at times, but a good one. Sometimes you'll have to give up trips, parties, or "fun", in order to save money to pay tuition. The "college experience" seen in the media is not a requisite for an education. In fact, I'd argue that it's contrary to the learning experience. See what you can give up, and see what you can pay for instead.