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How to Avoid Crippling Debt when Pursuing Further Education
Release Date:
2016-10-30
Description:
 
There is a common misconception that debt is all part of studying for a degree or MBA, but really, this does not need to be the case. Even though higher education is undeniably expensive and students can expect to graduate nearly $40k in debt, with a bit of forward planning and shrewd budgeting you can easily slash your student debt in half.

Nobody wants to graduate tens of thousands of dollars in debt. Carrying so much debt forward into your adult life is like swimming in a sea of treacle with concrete boots on. You canít move forwards and eventually you will sink. It is unrealistic to spend three or four years at college without accruing some debt, but if you elect to study online instead of enrolling on a classroom-based course, you will save a fortune.

Enroll on an Online Degree Course

Many colleges are now offering online courses to students who canít attend classes. Online courses are no different to a regular course in that the course content is identical and the same tutors teach you. The only difference is that you can work from home and to a schedule of your own devising. Work is submitted electronically and you can attend lectures via webcam. Even reputable universities such as George Washington University are offering online degrees, so if you want to study for an MBA in healthcare management while working full-time, you can.

Work through College

If you decide to study for your MBA healthcare degree online, you have the option of studying and working to pay the bills. This is easily the best way to avoid getting into crippling debt, but it will be a tough few years. To keep stress levels to a minimum, ask your boss if you can work flexible hours while you study. He should recognize the benefits of you pursuing a higher education, but if he needs some persuading, remind him that you are working hard to improve your skillset and itís for the greater good of the company. Hopefully, that will ensure he cuts you some extra slack.

Even if you need to study full-time, all is not lost. It is still worth looking for a part-time job to provide some income while you attend college. There are always bartending or waitressing jobs available in university towns and cities, so get your resume polished up and go out looking for work.

Keep Living Costs Down

Where possible, attend your local state university rather than travel out of state, as this will keep tuition fees to a minimum. If college is close enough, you might even be able to live at home, which will make life even cheaper. Other strategies to minimize costs include buying second-hand textbooks and using coupons to buy groceries. Be imaginative here and you can easily live very cheaply.

A college education is expensive, but it is not completely out of reach. Be sure to search out scholarships and bursaries, as you may be eligible for one.
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