Student Loan Debt Solutions for All Ages

Years ago I applied to college & received an acceptance letter back about three weeks later. It was a joyous occasion. But it was now time to figure out how to pay for a college degree. It was a year before NJStars (which has since fallen off the way side) was introduced for students with good grades & I knew I couldn't afford to pay for college myself. I also knew my parents were unwilling to contribute anything towards my education.

So I swiftly contacted my uncle. He paid a bulk of my college expenses & when a semester was too much, he co-signed a loan for the balance. While I was able to pay off the loans rather quickly due to a good job I've since noticed I left a lot of resources on the table.

Now as an educator my students have started to ask questions. I have made sure to alert them of many things I failed to utilize properly. The first thing I tell them to do is apply for their FAFSA. It will determine if the government deems them eligible for aid. They could receive PELL grants or other government funds they will never have to pay back.

Then I tell them to make sure they look for scholarships. I first suggest they visit with their school guidance counselor to see what is available locally. Then I suggest they contact the colleges they're interested in attending. I state that usually the financial aid offices at the college/university of their choice will provide scholarship information they won't know about, unless they ask about it. For example, some colleges offer scholarships based on what major you're taking - as a way to increase enrollment in that program. You won't know about these scholarships unless you ask.

Then, once they've exhausted speaking with real people about scholarships I tell them to search the web. There are hundreds, if not millions or scholarships out there to be had. Luckily a number of sites place them all in a search-able database for easy access. The scholarship search website I've suggested to most of them is FastWeb! as it seems to be the easiest one to navigate.

I then indicate there are many other ways to earn money for college. Volunteering around town could result in the organization contributing towards your education. Working at large chain store such as McDonald's, Wawa or KFC can result in your job paying a portion of your college expenses. The most overlooked way to lower college expenses is finding scholarships/funds offered based on a sport or other activity. People think that only a full ride is possible if you're a sports star. That is not the case. Students can get funds through just enjoying the sport. I know one student found a scholarship just because he plays chess.

I've noticed ever since I've provided these tips, my students are starting to worry less about eventually having to find a student loan debt solution. Not only that, but I'm now finding the more college offered scholarships I am finding for my own students the more students from other classes are starting to utilize my knowledge.