If you’re about to start college or have a child who is
going to start college soon, you’ve probably already heard the horror stories
about college debt and how it can ruin a person’s life and future for many
years past graduation. While this can sometimes be true, it definitely doesn’t
have to be, not if you choose a school that’s within your (or your child’s)
budget and try to get other forms of help, outside of loans that have to be
repaid, where you can.
Saving for the future can also be a big help when it comes
to graduating debt free or close to it. However, the school a person chooses
can also go a long way toward determining how much debt a person has upon
graduation. For the most part, private, small schools fare the worst in terms
of debt-production for students, while public schools and community colleges
are the best.
Some particular schools that are known for being easy on the
finances, often due to financial aid options offered, low cost, or other
factors, include:
l College
of the Ozarks
l Yale
University (surprisingly!)
l Haverford
College
l Davidson
College
l Duke
University
l Wellesley
College
l Vanderbilt
University
l Stanford
University
This is not to say, of course, that if you go to one of
these schools you will absolutely graduate debt free, but these schools, with
their good track records, might improve your chances! However, there is
definitely no substitute for saving early, planning smart, and doing your best
to pursue scholarships, grants, and other “free money” for college. With all of
these practices put together, you can likely graduate without too much debt
weighing you down, if any at all!
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