Handling the Dreaded Tuition Bill

Tuition is expensive, ranging from $100 per credit hour for community college all the way to Ivy League schools charging between 1-2k per credit hour. Naturally, most students do not have the funding to be able to pay for even 1 year of tuition, let alone 4 years.

This is where the dreaded loans come in.

According to finaid.org, the average student loan debt came to $23,186 in 2007-2008, between private and government loans. That is a lot of money, and it doesn't even include the outrageous interest rates that will continue adding up for years after.

The ideal way to reduce debt and make it a little easier on yourself is to obviously avoid taking out loans whenever possible. If you must, try to get the government's subsidized loans (the gov will pay your interest while you are still in school!) and loans with low interest rates and flexible payment schedules.

The best way to help avoid high debt is to apply for every scholarship imaginable! Sites such as fastweb.com have a comprehensive search function to filter out the ones you qualify for.

Your university should also have a financial aid office with information about scholarships. A visit to them could end up saving you a good deal of money!

Also, be sure to check out the places where your parents work(ed). If you have a job or had one, check there as well. Some employers offer scholarships to employees or to dependents of employees.

All in all, you want to avoid loans like the plague.