Getting a good education after high school will help set a solid foundation for your career and your future. Some people have the opportunity of attending college or university on their parents’ account while others need to work for their opportunity to attend. But, at the end of the day, there shouldn’t be any room for excuses.If you want to receive a tertiary education and qualification in your dream career, you’re going to have to make a few sacrifices. Here are a few ways you can you try and avoid student debt:
Find yourself a job while you’re studying
The reality of having to work to pay off your studies is that it might take you longer than you had anticipated to get your degree or diploma. Within saying that, you’re going to need to find a job that pays you enough to support your student lifestyle and contribute to your studies. As you know, the generalisation is that all students are ‘broke’ with little money to spend. If you have a part-time job that pays well and keeps you busy in your free time, you won’t have to rely on anyone else to help you.
Look at all of your funding options
Depending on your age and the amount of credit you have on your name, you might be able to apply for a personal loan to assist with your student funds. Some college or university fees are steeper than others, therefore you also need to look at your circumstances and make a realistic decision based on what you can and cannot afford. Sometimes student loans can hold you down in years to come, therefore paying off a personal loan is completely under your own, personal control. To see if you will qualify for a personal loan, learn how to apply for a personal loan online or speak to a professional at your chosen company for further assistance on choosing the right financing option to suit your needs.
Stay at your parents’ home
If you don’t have any dependants or reason to live out of the house, make the decision to stay at home with your parents if you’re allowed to. Attending a local college will give you the opportunity to save more money on housing costs and travel expenses. And this way you will be able to contribute towards some boarding and food fees at your parents’ home, simply to thank them for allowing you to stay at home.Another good reason to consider staying in the nest is that you won’t fall into the study trap of late nights. While the experience you’re exposed to while studying is fun and exciting, the reality is that you need to save money and complete your studies. There’s no time to mess around.
Be careful of extra expenses
Living the student life can be extremely costly if you don’t watch your budget. From drinking to partying, shopping and spending large amounts of money on eating out, you can easily be lured into thinking you’ll be okay with what you have. Budget accordingly and don’t forget to include your studies. Refrain from using a credit card or any clothing account that may encourage you to rack up an expensive bill. Even if you do find a part-time job, the chances are that it will only be enough to cover your expenses with little money left for spending. Don’t get yourself into debt because of wanting to have fun.
If you’re aware of the fact that you don’t have the financials upfront, make the decision to forgo college until you're financially stable. Not only will this relieve the pressure you feel about having to pay for your studies, but it will also give you more time to save and secure your life before you take this leap. Studying and graduating is supposed to be an exciting, fruitful experience. Not a stressful one. Once you have enough money saved up and can afford to put down a deposit (or the entire amount) before your course commences, it will give you plenty of time to pursue what you want and are passionate about, instead of having to study something you’re not interested in simply because of the price.
Pay in instalments
If you have the opportunity to pay off your study fees in instalment amounts, then you should certainly consider doing so. The benefit of paying instalments is that you’re only required to pay a fraction of the entire cost over a certain period of time. In essence, this could be compared to paying rent. If you budget wisely, you should be able to cover all your expenses and study payments on a monthly basis. This could potentially be the ideal solution to avoid debt and always stay on top of your finances. ConclusionAny individual who has the opportunity to study further after high-school should snatch it up and enjoy the ride. It might seem daunting having to rely on yourself and a part-time job to pay your bills, but tertiary education is a worthy investment for your future. Once you’ve obtained your degree or diploma and have the opportunity to set out into the real world, you will already have a clear understanding of how to budget and work with your money. If you do decide to take the leap and apply for a personal loan, and you know how to apply for a personal loan online visit the personal loans calculator to see if you would qualify at your bank or another financial institution. Thereafter, fill in the loan application and take it step by step.