5 Colleges for students who want to graduate debt-free

There are many colleges that understand the financial situation of students and try their best to give them the education they desire. Some provide grants and scholarships, while others allow the student to work on campus to help cover tuition fees. All the same, to be financially savvy you should regularly review your credit score so that you can plan well and come out of college without a loan hanging over your head.

The Big 5

To give the student the advantage of a debt-free education, here are five colleges which offer college scholarship and grants to help you get there.

• The Webb Institute–provides students scholarships which cover their entire course of study.
• Barclay College - offers those who wish to enter Christian ministry scholarships to all students which cover their stay on campus, food, and education.
• The Curtis Institute of Music- gives their most talented students a full scholarship.
• The Deep Springs College - allows students to pay their way through college working at the ranch on which the college is located.
• The Alice Lloyd College - offers a nominal fee as well as the option of working on campus to cover tuition.

Tips to be a Debt-Free College Grad

Student loans can cripple the student when left unchecked. The best way to pay them off is to start working on the college campus or by taking odd jobs while studying. Putting loans off until after the graduation can shoot up the interest rates. The student should try to pay off every month a little more than the minimum stipulated amount and keep an eye on their credit scores. You should review your credit reports from the three credit reporting agencies (Equifax, TransUnion, and Experian) regularly. Consistent credit checks will show you how much has to be paid and the best way to get it done. If you don’t feel you have the time to do an adequate job of monitoring your credit, you can enlist the help of a credit monitoring service to keep you informed of any changes in your report or score. Another important tip is to know that all degrees may not be financially rewarding following graduation, but the loan may still be crippling. So choose a degree which you know is worth the loan that you will have to work so hard to pay off. Always remember, your present actions will shape your future. Take the control in your own hand today so that you are not only credit wise but financially intelligent.

Research Systematically

Many students do not know about the best college grants for which they are eligible. A systematic check online as well as offline will give you a good idea. Do not rush into getting loans and applying to the college which advertises the most. There are other colleges out there which offer the same courses at lesser rates without compromising on the quality of education. State colleges, like the University of Virginia are rated as some of the top colleges in the country with low tuition rates. So while you are applying for admission, keep state colleges as an option. When the geographical location is not the issue, take into consideration colleges that are miles away but still offering free education. Likewise, you might also find some good colleges overseas that provide good offerings. Search for colleges which give you the best scholarships and grants based on your merit.

Conclusion

Although the student debt level has increased drastically to over $1 trillion, there is hope for students who do their homework well. The merit system still provides well and students should keep in mind things like scholarships and grants while studying. A little compromise on the name of the college can save a lot of money. Go in for the best education and not for the most well-known colleges. Remember that a college is only as good as the courses it offers.

Amy Johnson is an active blogger who is fond of writing articles on Finance and advising people to monitor their credit history to ensure a clean and error free report. Follow her on Twitter to know more on colleges to consider for a debt-free education.