Autumn (Great name by the way),
Here are some simple things to reduce your debt:
1) Only borrow what you need.
2) Make payments on your loans while IN SCHOOL. Most students wait until they enter repayment before making payments. Remember, if you pay on your loans while in school, you'll leave school with less debt.
3) Pass all of your classes! This may seem like a no-brainer, but any extra time you have to spend in school could mean more loan money needed. Keep in mind that some aid may be merit-based, so failing classes can make you ineligible for certain aid that would have reduced the amount of loans needed.
4) Apply for outside scholarships. As mentioned in #3, some aid is merit-based. You could earn money that could reduce your dependence on loans.
5) Be smart about your options. Try to limit changing your major (as this can prolong the time you are in school) and really focus on doing well in school and graduating in a timely manner.
Finally, 6) See if you qualify for federal work-study where you can work on campus and earn some money doing so.
Hope this helps!
Here are simple ways to optimize your debt level -
1. College life can entice you to take some unnecessary expenses. Always remember dollar saved is dollar and interest earned :)
2. Apply for a scholarship and look for federal government support. There are some interesting programs you must look out for
3.Work on your grades and be involved in college. If you come out of college as a intellectual one, you could get a good job or start your own biz. The student loan may no longer seem so large
4. Understand interest rate cycles so that you know when to refinance the loan. Example: If you loan is at 7% and the current rate is 5%, it could be worthwhile to consider refinancing.
5. Lastly, have fund at college bcoz its probably the just once an individual goes to college. There could be exceptions.
Hope this helps!
1. Graduate School
2. Relief programs like income-based repayment. They are traps.
Remember you don't have to do exactly what you want to do or live where you want to live right out of school. You can save that philanthropic, low-wage job for once you're financially secure. You can move to CA or NYC later as well. Personally it sounds a lot more fun to me being the 30-year-old, making a solid salary, debt-free in NYC than the 22 year old with a full load of student loans in NYC.
Dave Ramsey was a great source for me and I recommend him to everyone. Just google the name. I like the podcasts.
You can find examples here https://www.study.eu/article/study-in-europe-for-free-or-low-tuition-fees