Ever since I had braces in middle school, I've envisioned a career in dentistry. My family’s constant encouragement and positive influence have helped tremendously in moving closer to achieving that dream. As newcomers to America, my parents sacrificed their own educational aspirations to provide for us kids. They constantly pushed us to value our education and interests. Thanks to Mom and Dad, I saw my siblings graduate with degrees in Mechanical Engineering, Neurobiology, Psychology, and Medicine. Watching my siblings complete college showed me that my own success was possible.
Their experiences also demonstrated the importance of a debt-free degree. My sisters all navigated college debt-free, while my brother struggled with the burden of repaying student loans. Seeing the differences in their experiences helped me understand the importance of having an early plan in place for paying for college. I was able to fund my college journey by following these tips, and you can too!
Get smart about planning
My sisters learned ways they could get through college debt-free through their memberships at Boys & Girls Clubs of America. I followed their example and also joined and participated in the Money Matters program through the partnership Boys & Girls Clubs has with the Charles Schwab Foundation. This program taught me practical skills to manage my finances, including saving, budgeting, and investing. I learned how to track my expenses and avoid overspending on unnecessary things. I also adopted the 50/30/20 rule, which recommends applying 50% of my income to necessities, 30% to wants, and 20% to savings. These lessons and more helped me make better decisions about my finances.
I strongly urge you to check with your school counselor and look into these types of programs offered through local Boys & Girls Clubs or similar groups. Taking advantage of financial literacy and management training can help you become smarter about your money management habits as you plan for college.
Related: 5 Money Skills Students Need to Learn for Financial Stability
Start as early as possible
The Money Matters workshops not only equipped me with the tools I needed to plan for my college journey but also taught me how to put that plan into action immediately. Even before completing the program, I began to apply everything I learned. I kept a close eye on my spending and made much smarter decisions with my income. I challenged myself to research and apply for scholarships monthly, ensuring I was vigilant about seeking opportunities and programs that would support my journey through college.
Don’t be afraid to make a list of any questions you may have about saving, paying for college, or using credit cards as you learn and put these habits into practice. Talk to your counselor or a mentor about any concerns you may have. There’s no time like the present to start shaping a debt-free future when it comes to paying for college expenses.
Don’t miss out on scholarships
No matter the dollar amount, every scholarship opportunity is a chance to reduce your financial load and gain freedom from mounting educational costs since they provide free money that doesn’t have to be repaid. Many scholarships are specific to academic and personal achievements, from being a National Honor Society member to participating in extracurricular activities like playing on your school’s football team. Take time to research scholarship opportunities that reflect your academic profile, characteristics, and interests; craft compelling essays; and gather recommendation letters. The efforts you make now and throughout your educational career can have a huge impact on your financial future.
Related: Our Best Advice on Finding and Applying for Scholarships
Earn college credit in high school
Taking Advanced Placement (AP) classes and pre-college programs in high school can potentially earn you college credit and slash the number of semesters you’ll need to spend working toward your degree. Fewer semesters mean savings on tuition, fees, books, and sometimes living expenses. You’ll want to explore these credit-earning options with your counselor to figure out which program is best for you.
Apply for financial aid
It’s essential that you submit the Free Application for Federal Student Aid (FAFSA) as soon as you can. While completing this form may be somewhat of a complex process, it’s a worthwhile investment. The majority of FAFSA applicants do receive some form of financial aid no matter their financial need, and funds are usually awarded on a first-come, first-served basis. To simplify the process, learn what steps you and your parents need to take to fulfill all the application requirements and deadlines, including collecting important financial documents. Then start and complete the form as soon as it opens during your senior year, plus every year you’re in college. You never know what federal aid you may qualify for!
Related: Infographic: How to Fill Out the FAFSA and Why It Matters
Armed with these financial tools through the Money Matters program, along with unwavering determination, I'm excited to embark on my journey to college. With a strategic plan, dedication, and a little financial savviness, succeeding in higher education with little to no debt is possible. Seek guidance from your mentors, counselors, financial aid advisors, and scholarship programs. With the right support and a proactive approach, you too can obtain a debt-free college education and achieve a bright financial future.
Get one step closer to making college a financial reality by searching for scholarships right here on CollegeXpress!
