Student Loan Debt and How to Avoid It

For college-bound high school students, the transition from graduation to enrollment is an exciting first step into adulthood. College serves as a great opportunity not just for learning but also for making memories that last a lifetime, however, one college experience you don’t want following you around for a lifetime is student loan debt. With the seemingly ever-increasing costs of tuition, paying for college can be a burden for both parents and students. Due to this more and more families turn to student loans for temporary financial relief. In fact, as of this year, student loan debt has reached an all time high of 1.7 trillion dollars.

While student loans may seem advantageous now, that long-term commitment can weigh on you for years to come. By simply making smart choices and short-term sacrifices now you can successfully avoid the weight of student loans.

Learn Local

One of the biggest ways to save money on college is by attending a local institution. Not only will this save you BIG on tuition but it will also save you on living expenses.

Perhaps the greatest benefit of attending a local college is the in-state tuition rates.  By simply attending a college within your home state you are automatically eligible for a lower tuition rate. The reasoning for the drastic difference in tuition rates comes down to taxes. Through state taxes, in-state students have indirectly contributed tax dollars to the school. Out-of-state students have made no such contributions. In order to compensate, out-of-state students pay higher tuition rates.

Despite what popular culture may lead you believe, you don’t have to leave the nest in order to experience college. By electing to live at home you can cut the hefty expenses of room and board from your college budget. If living at home is not an option, consider finding a group of trustworthy friends to split rent with.

Apply For Financial Aid

The Free Application for Federal Student Aid awards grants, loans, and work study jobs to eligible college students. Not only does the FAFSA determine your federal aid eligibility but it also determines state and college aid eligibility. If you’re interested in applying for the FAFSA CLICK HERE to get started. 

Apply for Scholarships

One of the most popular ways to earn money towards college is through scholarships. Scholarships are awarded based on a wide-variety of eligibility requirements such as academic achievement, extracurricular achievement, and financial need. Each scholarship has its own application requirements but written essays are among the most common.

As a Gulf Coast State College student, scholarships are in no short supply. Through the GCSC Foundation students have the opportunity to earn scholarships that are exclusively offered to GCSC students. If you are interested in applying for a foundation scholarship simply follow the application steps located on the GCSC Foundations website. APPLY NOW

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