Now August is the month where most colleges bill students their tuition. It’s a painful process, and most of us who have gone to college can agree that . Signing student loans can feel a bit like you are signing your life away.Student debt as a whole has now passed credit card debt in the United States!

I was talking to some of my girlfriends and we were discussing out situations with our loans, not how much they were but how soon we hoped to pay them off. One of my friends who started at a out-of-state private school for a year studying psychology, then worked for a year, then transferred to a private school in-state with a different major and ending up being a RA there, Her goal is to pay off her loans in 5 years.

My situation is that I’m going to a in-state school and commuting. Thankfully I’ll be graduating a semester earlier than my classmates.

My other friend is going to a private school on Long Island and plans to go on to get a degree in Law. Her goal is, “Before I’m dead”. Now I honestly can’t imagine having to live with loans. One of my biggest goals is to have financial independence. I don’t want to owe anyone any money, and I went into college with the mindset of getting as few financial student loans as possible.

That mindset has paid off. I’m going to be graduating with less than $10,000 in student loans, in the state where the average is about $30,000. Here are my tips to accrue as little student debt as possible.

  1. Know your financial limits. If you want to go to that private school because it has the best program and it’s offering you a four year scholarship, go for it! You don’t have to go to a public school if you get a good package. However, don’t go to that private school because of the name. To be honest, nobody is going to ask you where you went to college and judge you to harshly on it. For the most part, unless you go to a ivy league school, employers are not going to care if you went to the public college the nest town over or the private school two states away.
  2. Try to stay in-state. Going to school out-of-state is pricey, and it’s always more expensive than staying in-state. At my college, where the in-state tuition is about $10,000 a year, the out-of-state tuition is about $18,000. Big difference!
  3. Commute, or live off campus. I commute, and I can vouch for the enormous difference it makes. No room, board, dorm vandalism fees, you can skip out on a meal plan  if you want, the list goes on! I save about $8,000 a year by living off campus and commuting.

These are the things that made the biggest difference in how much debt I’m leaving school with. They don’t seem like much, but using than can help lessen your burden when you get your diploma. Are there any tips you used to get through school? Let me know below!

Published by Sarah Evie Vogue