• Home
  • About
  • Advertise
  • Contact
  • Policy
  • Guest Post
  • Archive

One Cent At A Time

A Personal finance blog with topics to save money, earn money, personal loans, investing, career, escaping debt and building wealth.

  • Email
  • Facebook
  • Google+
  • Pinterest
  • RSS
  • Twitter
  • Beautiful Life
  • Becoming Rich
  • Beginners Guide
  • Extra Income
  • Productivity
  • Saving Money

Earn your College Degree Debt Free

September 26, 2016 5 Comments

Share this:

  • Tweet

I just graduated from college with a Bachelor’s Degree in Accounting (9/15/16). It took me exactly 1,837 days (5 years,10 days) to earn that degree.  I spent $24,708.00 on tuition alone, excluding books, fees, and living expenses.  No I didn’t live with parents and no they didn’t provide money towards my education, or living expenses for that matter.

Yet, I am walking away from school with $0.00 in student loan debt.  I provided for myself, got married and had a baby (money well spent I might add) during those five years too.

How did I do it?  Here are my 5 tips to earn your degree debt free; the ultimate guide to pay your way through college.

Tip #1 – Save Before You Start

There are three specific ways to save money before you start college: Wait one year before you start, work through high school, and take college classes in high school.

First, wait one year before you start.  There is no shame in not rushing straight towards the front doors of your local college right after you graduate high school.  Instead, go get a $10 or $20 an hour job and work 40 hours per week for 1 year. You will earn somewhere between $20,800 – $24,960 (less taxes).  If you can keep your expenses low by living at home or getting some roommates, you will put some serious money away for college.

Second, work through high school. When I was in high school, I went to school, played sports, did all of my homework, and still found time to have a part-time job.  By the time I graduated high school, I had close to $10,000 in my savings account.  That helped me start off my post-high school life tremendously.  Think how much you could save by working 10-20 hours each week with a part-time job.  I bet you would save more than you think!

Third, many high schools and colleges in the country offer a dual enrollment program with a local college.  You can do your regular high school classes, then add in a little extra studying time and a few extra tests and just like that you have both college and high school credit!  The icing on the cake is that most of the programs are free (or cheap).

Tips #2 – Get a Job & Keep It

I recognize that this next statement might sound weird, but… I really enjoyed working my way through college.  I worked at least 40 hours every week (sometimes more than 40 hours) for all five years I was in school.  It was definitely hard… and I gave up a lot of things for it, namely my social life, but in the end I learned valuable skills and a host of life lessons along the way.

Employers like good employees who work hard.  Get a job, keep it, and become a great employee and you will get paid well.  In addition, your pay will continue to rise.  Working as much as I did played a huge part in me being debt free coming out of college.

The pay isn’t the only benefit you can get from working during school.  My first job had nothing to do with my accounting degree.  However, after moving around a few times I finally ended up working for a company in an entry level of accounting position.  Working and studying accounting at the same time was a great combo for me, as it allowed me to apply the knowledge I learned at school to my job.  Subsequently, I learned things at my job that then made school a whole lot easier and it allowed more topics to finally click in my brain.

Tip #3 – Start at a Junior College

I still don’t know why anyone actually goes straight to a 4-year college right out of high school. You pay more, you have bigger class sizes (so less help from teachers), and it is often a really big jump for a lot of students mentally and emotionally.

If you want to increase your chance of getting through school debt free, stay in state and go to your local community college first. You will save money and have a better transition.

Tip #4 – Maximize Scholarships & Grant Money

It is wise to apply for and seek out grant and scholarship money.  If you can work hard and apply correctly, you can really get some financial help with scholarships.  If you are able to save even a few thousand dollars from scholarships, grants, or even an employer reimbursement program, think about how much better you would be off towards your debt free goal.

Tip #5 – Learn How to Budget & Live True to It

Budgeting is a big deal, especially for college students who have a desire to work hard and come away with as little debt as possible.  You not only need to create a budget, but then you need to do the harder part and actually live true to it.

It may be hard at first to give up some of the items that you really love, but I promise that you will be able to enjoy those things again later on.  For now, you are temporarily giving up those items for the greater good.  Sacrifice will not hurt you in the long run, I promise.

If you want to learn more about budgeting, need help creating your first budget, want to use an online calculator, or download free templates and spreadsheets, then head over to my blog to learn more.

Conclusion

I was able to get through school debt free and so can you!  It took me eight months longer than the average student, but I was able to earn a higher wage than most students during those five years that I worked.  In addition, I learned some incredible life skills along the way.

If you follow all five of my tips, then you too can walk away from school debt free (or at least pretty darn close to it!)

About the Author: Jacob Merkley is a Part-Time blogger who specializes in Life Skills that put YOU in control.  He blogs over at PowerOverLife.

sa-captivate-placeholder
LIKE THIS POST?
Join our community of 5000+ subscribers to increase your net worth and build wealth
We hate spam. Your email address will not be sold or shared with anyone else.

Share this:

  • Tweet
About the Blogger Hi I am SB, a personal finance enthusiast with a career in software development. I am an immigrant to the USA since 2005, after being born and brought up in India. This 40 something technocrat lives and breathes personal finance whenever he gets time from the day job, job as a husband and a dad

Some links on this page may be affiliate links, if you make a purchase following the links, I may earn a commission. Read affiliate disclosure here
« Trading CFD or Spot Forex
Have the Right Attitude To Become Richer »

Comments

  1. Jacob Merkley says

    September 26, 2016 at 10:50 AM

    Thanks for letting me guest post on oncecentatatime! Love the website! Keep up the great work!

    Reply
  2. Fehmeen says

    September 26, 2016 at 12:57 PM

    These tips will save you lots of money through college. I would add two more – choose a college close to your parents’ home so you can minimize your boarding and lodging expenses. Also, some people choose to complete half their degrees through community college, which is a lot cheaper, and then move to bigger, more well-known universities to get the final degree.

    Reply
    • Jacob Merkley says

      September 28, 2016 at 1:45 AM

      Agreed on both tips. Thanks for reading!

      Reply
  3. Brad, Financial Coach says

    September 27, 2016 at 9:56 AM

    This is great – and great timing because we just had a 20-something ask us for tips on how it is possible to get through college debt-free. Will share this with him for additional information beyond what we already told him.

    Reply
    • Jacob Merkley says

      September 28, 2016 at 1:47 AM

      Thanks Brad. Its hard for kids to get through school debt free these days…especially with the rise of education costs. But anyone can do it if they set their mind to it!

      Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *



Create your own blog in 20 minutes and $20

Personal Capital, a free tool to change your financial health today

101 Cents at a Time

101 Ways to Earn Extra Money on the Side
201 Frugal and Perfect Birthday Gifts
101 Ways to Save Money Everyday
101 Ways to be Better and Successful at Work
101 Ways to Save Environment and Energy
101 Frugal and Romantic Anniversary Ideas
101 Low-Cost Men's Fashion Ideas
101 Personal Finance Tips
101 Ways to Reuse Household Stuff
101 Things to Do, When Nothing to Do
101 College Graduation Gift Ideas
100 Tips for Ecommerce Startup
101 Ways to Enjoy Indoor During Winter

Popular Posts

Quick Cash - How to earn fast money legally
Living well on less than $10,000 a Year
Top survey sites for side income
What to do when auto repair goes wrong
Where should I invest my money now?
20 Ways to be productive and happy at work
51 Ways to get out of debt
Be a better person in 15 days, 15 ways
Income ideas for retirees and senior citizens
51 side jobs for college students
Urgently need a large amount of money?
Should I buy or should I rent?
Best Personal loan providers
25 Ways to save environment
25 DIY car repairs to save money
How to decorate office cubicle
How to show your wife you care
50 Financial Rules for Success
51 Frugal weekend family activity ideas
Become Rich By Saving 1 Hour Of Daily Wage
How much do I need to save for retirement?
How to negotiate your salary

Follow us on FaceBook

About Author

SB

Blogger by choice and IT manager by profession. Finance is my passion and gardening is my greatest satisfaction. Born in India, settled in US, Husband and a father. I created this blog in 2011 with a vision to help others. Thanks for your patronage. More info on my "about" page.

View all posts


Subscribe

Join our community of 5000+ subscribers to increase net worth and build wealth

Site Disclaimer

Disclosure of Material Connection: Some of the links in this web site are “affiliate links.” This means if you click on the link and purchase the item, I will receive an affiliate commission. Regardless, I only recommend products or services I use personally and believe will add value to my readers. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”
Read full Affiliate disclosure


One Cent at a Time is published by SB. The opinions expressed herein by him are his own and not those of his employer or anyone else. All content on One Cent at a Time is for entertainment purposes only. By reading this blog, you agree that SB and/or One Cent at a Time is not responsible for any actions taken after reading this blog. For the full disclaimer, click here .

Major Media Mention

One Cent at a Time Media Appearances

Copyright © 2018 One Cent At A Time · Designed by Nuts and Bolts Media