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What is the most beneficial way to pay for college?

For the sake of easier life after college. #life

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Anthony’s Answer

There are many options available to you to finance education. The important thing to keep in mind is not where the money will come from, but is my area of study worth the cost. Again, depending on your individual circumstances there isn't any one great answer for this. Realistically, if your parents aren't able to foot the bill (and most are not), you can apply for many different scholarships. Alternatively, government loans are available. You could seek out private loans as well, although government loans usually have a lower interest rate.

You should also not try to cover the entire cost of education entirely with loans. Be proactive and pay as you go, even small amounts will take a significant portion of your interest payments down. Also, utilize third-party credits. CLEP exams (college-level-examination-program) are a great way to earn credits and save on cost. Google: CLEP exam and see which exams your schools accept. You can earn 3, 6, or 12 credits from simply taking an exam. Each exam is $80 which is considerably less than a college course.

My final piece of advice is reiterating my opening statement. So long as you pick a practical area of study, something that will give you a skill that is of value to an employer, paying back your loans is secondary. If you instead choose a major that provides you no such skill, you will struggle and question why you took out loans for an education with such low return on investment. The doors your college degree will open to you are worth the loans. You just have to be willing to bet your obligation to pay, against your ability to succeed.

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Rufino’s Answer

This is going to depend on what you want to do after college. In my experience, it was a struggle to figure out how to pay for college. I went the route of getting enough student loans to go for an associates degree in applied science. After that, I knew I couldn't afford to get a bachelor's degree. So, I jumped into the work force getting into jobs where I could somewhat use my degree. Then, I'd go looking for the next opportunity. I'm not going to sugar coat things. It was a real struggle back then to get things going. It still took a while to payoff the loans. I always kept my options open if a new job opportunity showed up. You sometimes have to take the risk, take the action, in order to gain more clarity on what you should do next. I did side hustles and odds/ends jobs to get extra cash. If you stay resourceful and determined, you'll be able to pay off your college loans. Just remember that nothing is a failure as long as you learn from it and do not act the same way when a similar situation comes up. Try your best to take the high road on everything. It will come back to help you when you least expect it. Build a network because that saying of "your network is your net worth" is true, but you'll also need to prune it like a bonzai tree as you go through life.
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