How to Graduate College Without Any Debt

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According to a recent study by the Project on Student Debt, the average college student will graduate with $25,250 in student loans. According to, there is more than $1 Trillion in student loan debt outstanding. In fact, there is now more student loan debt than there is credit card debt in the United States. This is just one of many perplexing student loan facts that we face today.

So obviously there is a trend to borrow money in order to go to school, but is it the only way? Here are five things to consider to be able to graduate without any debt:

1. Consider the Cost

According to the College Board, the average annual cost for a private college is $28,500, for state residents of a public college is $8,274, and for out-of-state residents attending a public university, it is $20,770 (2011-2012 study). So if you are trying to go to college without taking on student loans, which one would be more realistic? Probably going to an in-state public university.

Another thing you could consider is going to a community college for 2 years and then transfer to an in-state public university. The average cost of community college tuition for 2011 was less than $3,000 per year. If you take this route it would only cost about $22,548 to have a four-year degree (excluding room and board).

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2. Work Through College

I did this more toward the end of my college career. It is tough, but it is worth it. Get a job while you are in school to pay your tuition as you go. I worked full-time in retail while taking 6-12 credits per semester. It is a lot of work, but keep in mind this is only for a short period of time.

3. Apply for Scholarships

You do not need to be a rocket scientist to be eligible for a scholarship. You can actually get a scholarship for just about anything. Take a weekend and apply for different scholarship opportunities. Go to and you can put in your information and it will start to notify you of scholarships that match the information you provided. They have about $3.4 Billion in scholarships available, so why not apply?

4. Work for the University

If you are an employee, many universities will let you attend at a reduced rate or in some cases even for FREE.  Also, if your parent or spouse works for the institution you might be eligible for these discounts as well. Check with your school to see if they have any opportunities available.

5. Check out Crowdfunding sites

I just found out about this site the other day and I absolutely love the concept. You can sign up and have people “invest in your college education.” Through the site, people are able to help pay for your college costs.

As you can see, there are several ways in which you can go to college and not have to take on student loan debt. What will you choose to do?

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3 responses to “How to Graduate College Without Any Debt”

  1. Connie Holt, E.A., ATA, ATP says:

    Reblogged this on Holt Accounting & Tax Professionals, LLC and commented:
    Great suggestions for funding College without debt!

  2. Kimbernator says:

    I wish I had done this. It would have been nice to not spend my first years as a professional paying off debt, not to mention bringing that debt into a marriage!

  3. The Dominator says:

    I did the community college route and it still took me 15 years to pay off my debt from my undergraduate studies.

    Now I’m debt free and I’m looking to do my Graduate studies in Europe. Yep, that’s right, Europe.

    Since education in Europe is heavily subsidized you can get a degree from a top notch school for next to nothing, and in some cases, nothing.

    There are plenty of undergraduate and graduate programs all over Europe that are taught in English. So, no language barrier when it comes the study itself.

    Plus, as an international student, you’re Visa will most likely (depending on the country) allow you to work part time during the school term and full time during the summer. If you have a spouse they usually don’t have any restrictions and can work full time.

    If you do a bit of research and find out that your parents or grandparents (or even great great parents) had or have Eu citizenship, you may be able to apply it to yourself. You can become an Eu citizen too, reducing the fees and increase your privileges even more. This is the route I took.

    Degrees from European universities have the same, if not greater, worth and in some cases take half the time to accomplish.

    I never had that much luck with scholarships and grants. But if you start thinking outside the box, I firmly believe that you could graduate with no debt.

    As for myself, I’m heading for Europe next year.

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