Graduate debt free get a job
It’s hard to stay out of debt just in the course of living. You know I’m not joking. So, it’d be ridiculous to think that trying to graduate debt free from college would be “a walk in the park.” Working while going to school can be a real challenge, but a lot of people successfully manage school and a job. Part of the success is your mindset. It’s not just a “Whatever will be, will be” scenario. It’s more like “The Little Train that Could.” You decide what you want to do and you make it happen. You keep doing what it takes, even if (or as) it gets harder. With the right mind set you can graduate debt free.
Graduate debt free. You may need to work a job and go to school at the same time.
If you have a plan, a goal to graduate debt free from college and come anywhere near achieving it, you will be farther along the path to financial success than many of your fellow graduates. They will be faced with repayment schedules for years to come. You, on the other hand, will have the freedom to build financial security. But, you do have to have that plan and you have to work it. In my last few posts I’ve (at least) touched on a number of factors that can contribute to your success. These include saving ahead of time, applying for grants and scholarships, asking for help in the form of money or needed items, and finding less expensive alternatives to your school’s room and board programs. All of those things can contribute significantly to the success of your plan. But, many of those are lump sum contributions or are designed to save you money. That given there are times when you just need to have some income in order to meet regular and unexpected expenses.
Get a Job and graduate debt free
The answer is a job: Part-time, maybe Full-time. You can find employment in town or on campus; most departments have places for students on their staff. You could even create a moneymaking enterprise for yourself. As for the latter option, students often put together some sort of service oriented small business—housecleaning, babysitting, painting, etc. As another aspect of this, I’m sure you know about the stock market .com era that lasted from approximately 1997 to 2003; some of those startups were student driven.
Need or choice
I’m sure you understand the necessity of a job if you’re unable to meet expenses. Most students who work while school is in session do so because they
Don’t let college debt ruin your graduation
haven’t received enough money in scholarships, grants, or other financial assistance to pay their expenses.
For some students, it’s not just the money they want. They’d like to get a jump on work experience in their field. My oldest son was one of these. He needed to bring in some money to continue his education in civil engineering. Working through the Civil Engineering department at his school, he (twice) secured semester-long jobs with road crews. While he was working, he went to school part-time, taking general education classes at a community college. (The credits transferred to his school.) It took him an extra year to graduate, but he earned money he needed. In addition, when he graduated he had a specialty in bridge building and experience in his field. That experience helped him find employment after graduation.
Here’s an inspirational note: My younger son is active duty military. He’s been through some apprentice courses and he’s taken correspondence and online classes. All paid for upfront. He’s made sure any classes he’s taken will be accepted by a college when he’s ready to go. That’s a boost towards graduating debt free for him.
My daughter’s story is different. She had a certificate in Accounting—had already had completed her general education courses—and was employed when she decided to go for a bachelor’s degree in Nursing. (She had also just married.) She applied for and received state grants that covered most of her expenses. My daughter and her husband could have managed on his salary, but she made the decision to continue working full time.
Why work and go to school
As I’ve already said, even though many students do, it’s not easy to seek a degree and work a job. So, why do it if you don’t have to?
The simple answer is financial security: You don’t know what’s coming. Midway through her second year the kids had to replace their car. That had not been part of the plan, but yeah…and it was their only car. They used it to get to school and work, and bus service wasn’t an option.
It only took a day to find a vehicle to replace theirs, mostly because they had an emergency account and were able to make a large down payment. (A good bit of my daughter’s pay had been saved for the unexpected.) Anyway, this emergency did not derail their plan for my daughter to graduate. It’s true they acquired car payments (not something I liked very well), but they were very reasonable. She graduated—not debt free—but they were able to pay the car off early, and they’re using a good part of her pay to build their budget (and of course, that includes and emergency account.)
Here’s my point
Regardless where you are in life, an emergency account is very important. It’s a good reason to work; even if you have your education and living expenses are covered. Maybe you don’t use a car right now, but could you easily replace your computer if it was stolen? Or, maybe you don’t get a grant you were counting on…
Before I close, I’d like to note that I’m an advocate for being frugal. Part of being frugal is living with a budget. I’m also realistic. It’s unlikely that as student you can budget for every aspect of life. (You build a budget as you progress financially.) But…provide yourself with some insurance: Get a job. Have some money set aside for an emergency. It can increase your chances of graduating debt free.
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