How to pay for College Without Taking Loans

Are student loans a good idea? Well, it may be your first thought when studying further. But there are ways you can finance your studies without taking loans. Find out how here.

Anxious about paying for college? Your first thought may be to apply for a loan. But, there are ways you can finance your studies without getting into debt. Here’s how to pay for college without taking loans. 

Are Student Loans a Bad Idea?

Applying for student loans is often the first strategy when students are thinking of studying further. But it could entangle you in a world of debt that takes years to come out of. Students can spend up to 30 years paying off their student debt! More often than not, the stress of having to pay off the loan is not worth it.  

Top Tips to pay for College Without Taking Loans

Finances are one of the top challenges keeping people from studying further. Education is expensive! But there are avenues you can explore that does not leave you with a world of debt. Some of these are: 

  1. Pay Cash for Your Degree 
  2. Apply for Financial aid
  3. Choose an Affordable Schooling Option 
  4. Consider Distance Learning 
  5. Explore Trade Schools 
  6. Apply for Scholarships
  7. Work During School 
  8. Get on a Budget 

Pay Cash for Your Degree

If you have the means to pay up front for your studies, we advise that you do so. Many institutions will offer you discounts when you pay the full price upfront.  

Apply for Financial aid

Depending on your financial situation and the school you are applying to, you could fund your studies entirely on financial aid. Remember to check important dates for when these applications are due. 

Choose an Affordable Schooling Option

It may surprise you, but there are many institutions that offer the same courses, but simply because of their reputation, will charge much higher. Research colleges thoroughly. A higher price tag does not mean a better qualification. 

Consider Distance Learning

Distance learning is a cheaper option as it cuts out many other costs. Here, at Skills Academy, your study materials are included in your course fees. Student support is free and you won’t have to spend money on travelling since you study from home. 

Explore Trade Schools

Obtaining a qualification from a trade school generally takes less time to complete and is cheaper. Trade schools give you the opportunity to learn practical skills like mechanics, plumbing and electrical work. 

Apply for Scholarships

If your grades are good enough, you can apply for scholarships or bursaries. Bursaries in South Africa vary on their application requirements. Make sure you check these before submitting your application. 

Work During School

This will take some sacrifice, but many students are able to pull it off. With our flexible schedule it will be easy to learn while you earn money. This way you won’t have to worry about any extra red tape. Simply pay for your fees with monthly installments. 

Get on a Budget

Budgeting is vital for all college students. It may seem obvious, but not many people track their spendings. A monthly budget will help you identify what your fixed costs are, where you can find room for savings and what you should spend less on. 

Paying for college does not need to be scary with these tips! Now you can pay for college without taking loans. Cut the debt out of your life. 

Your Studies Don’t Have to Break the Bank!  

Don’t break the bank to study further. Instead, choose us. We offer affordable, quality education to all students. Contact us today: 

  • Call us for free on 0800 39 00 27
  • Or  fill out this contact form for a call back
Last Updated: January 26, 2021

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ABOUT THE AUTHOR:

Andrea Petersen
Andrea Petersen
I am dedicated to creating engaging online content. I enjoy reading, writing and popular culture. House Ravenclaw. View my LinkedIn

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