Besides a house, college tuition is the largest payment many people will make. But it does not have to be that way. Really.
For only $99 for students or recent graduates, Capital Budget Strategies, LLC, Austin’s best Financial Coach, will help you plan for college debt. We will also help you build a Budget, an Emergency Fund, pay off credit cards, invest in a Roth IRA and let you know how to best save for retirement. Sessions are all face-to-face, online via Zoom Video Conferencing.
Here are some easy ways to avoid college debt:
IDEA #1: Why does a teenager have to be sitting in a college classroom 3 months after high school graduation? Take time off between HS and college. The benefits include saving money for tuition, earning real life experience in your selected field and you are a bit older and more mature when you start classes. Is that so bad?
Thinking of being an attorney? Work as a clerk in a law firm for 2-3 years.
Thinking of being a doctor or nurse? Work in a hospital or clinic for 2-3 years.
Thinking of being a software engineer? Work at Dell or Apple or Indeed for 2-3 years.
Thinking of being a construction engineer? Work in construction for 2-3 years.
Imagine being a nursing student after 3 years working in a busy hospital? You would be way ahead of your peers and know nursing is what you really want to do.
IDEA #2: Join the military. OK, not everyone has to be an Army Ranger or Navy Seal. Serve about 3 years and Uncle Sam will pay your FULL TUITION, including book, housing and provide a stipend.
Interested in weather? Become a weather forecaster for the Air Force, they will train you and give you real life experience.
Interested in astronomy or satellites? Join the Space Force, they will train you and give you real life experience.
Interested in law enforcement? Join the Coast Guard and chase drug smugglers in a speed boat across the Caribbean Sea.
But, if you really are looking for real adventure your friends can only imagine, join the Army Infantry, USMC, Air Force Special Ops or Navy Seals. Trust me, none of your friends would know the feeling of parachuting from a helicopter in the middle of the night into the ocean. They will be sitting in a huge college lecture room, with 200 bored students, trying to figure out how to pay for next year’s classes.
IDEA #3: Attend Community College first. Live at home, work part-time in your chosen field and take classes for two years. Then you can easily transfer to a 4-year college with experience and money to pay tuition.
The well-respected Austin Community College is very affordable and has a special track for students wanting to attend UT at Austin, where you would graduate with a UT degree.
College does not take lots of money, it just takes some thought, a little sacrifice and maybe holding your nose as you plunge into the Pacific Ocean in the middle of the night!