Debt-Free U: Pay for College Without Loans

Perhaps this would have been a better post if I actually read the book. That being said, Dave Ramsey interviewed the author and they guy was very astutue when it comes to paying for college. There is a lot of chatter here about student loans so I thought this may be of some help.
 
greaper007 said:
Interesting, do you know if it has info on grad school?
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Fellowships.

This is all you need to know.

If you can't get into a program where they'll pay for your education, then don't go. Even if it means passing up a big name university to go to a lesser known university.
 
greaper007 said:
Interesting, do you know if it has info on grad school?
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From what I've read it seems those who get student loans are more unlikely to attend grad school because of the pressure to get a job and immediately and pay off those loans.

It seems the advice about undergrad applies just as equally to grad school. And it really is just common-sense advice he gives - no "tricks" or "scams" to pay for college. Unfortunately for many it's just hard work and brain power that gets it done.
 
jtrain609 said:
Fellowships.

This is all you need to know.

If you can't get into a program where they'll pay for your education, then don't go. Even if it means passing up a big name university to go to a lesser known university.
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Yeah, we're still paying off the loans from my wife's fellowship. Her best year was $17,000, it definitely helped her get by. But when you have zero support from your family it doesn't pay for everything.
 
I'm not sure it's practical to always save up enough to cover your college education. A low to moderate amount of loans really aren't that bad depending on your post-college job prospects. Taking out loans to become a grocery stocker doesn't make sense but other jobs might.
 
wheelsup said:
I'm not sure it's practical to always save up enough to cover your college education. A low to moderate amount of loans really aren't that bad depending on your post-college job prospects. Taking out loans to become a grocery stocker doesn't make sense but other jobs might.
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Like a pilot???
 
There is good debt...and bad debt...

I don't necessarily think anyone needs to go through life living the Dave Ramsey or Clark Howard mentality when it comes to money management.

Just a bit of common sense and due diligence is all that is required to not find yourself with a 300 credit score before you're 28.
 
Local community college are a good way to go. When my gf was getting her RN degree she went to the local community college for the associates part and the Pell Grant exceeded the cost of tution and her books so at the end of each semester she actully got a check for between 500-1000 dollars that was hers to keep. (left over pell grant money from semster) So it was like she was getting paid by the government to get her RN.
 
I just applied for financial aid and will be getting a pell grant and most likely will be getting a subsidized loan where the government pays the interest while I'm in college. Since my schooling and flight training is already payed for though the gibill, I will be using the pell grant and school loans to pay off high interest credit cards and medical bills. I'm just waiting for the school to process it on their end. Cant wait to transfer the interest on my debt to the feds while I go to school and save up some money.
 
ComplexHiAv8r said:
Like a pilot???
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I can see the case being made. Going to a large name-brand school...no. Going to a "get 'er done" cheap ASAP program...I can see yes. A guy hired 30 days before me upgraded 1.5 years earlier than I did, equating to roughly $50,000 after tax in additional income. I can only imagine the difference is far greater at the major carriers. Seniority really is everything.

It could also go the other way but spending $40k or so to get your certs ASAP and getting out there and working earlier is a huge boost in career progression.

This assumes you graduate high school and don't have any sort of skilled job waiting for you of course...if you are making good $$ right out of high school (and want to do something else) by all means stash $$ away

Debt isn't bad provided it is used to increase income. Debt to buy a TV, OK that isn't smart. There is a difference.
 
Ian J said:
From what I've read it seems those who get student loans are more unlikely to attend grad school because of the pressure to get a job and immediately and pay off those loans.
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I think it's just the opposite nowadays - folks can't get a decent job to pay back their loans so they go to grad school to continue forbearance on the loans.
 
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