It Really Is Possible to Pay for College Without Student Loans

College tuition is rising at an alarming rate--faster than inflation, and faster than most people's ability to save for college. It is becoming more difficult for the average student to make it through college without some form of financial aid, but that doesn't mean it is impossible. In fact, if you are willing to do a little legwork, you may be able to graduate college without owing any student loans, which is essential if you are working toward one of the lowest paying college degrees.

Here are some tips to help you make it through college without student loans:

Apply for Scholarships and Grants

There are many types of scholarships available to college students. The most popular are academic and athletic, but there are other scholarships for just about every situation imaginable. Some quick research can turn up potential scholarships for your chosen course of study, your ancestry, where you grew up or were born, and many other scenarios.

Community College, Then Transfer

Community College tuition is often less than a third of the tuition at a traditional public university and often less than a quarter of most private universities. It gets better--most universities will accept transfer credits from these schools.

You can easily achieve an Associate's degree within two years at a community college, then transfer your credits to a 4 year university to finish out your Bachelor's degree. Future employers will only be concerned about where your four year came from (if they are concerned at all) and you will save yourself thousands of dollars in tuition.

Test Out of Classes

Many colleges and universities accept Advanced Placement (AP) test scores or allow you to test out of classes with CLEP tests.

AP courses are taught in many high schools and are typically taught at a college level. At the end of your school year you can elect to take an AP test which may serve as college credit if you score high enough.

CLEP tests may be another option. These are similar to AP tests, but don't require you take an AP course in high school. There is an associated fee for both of these tests, but they are often much less than tuition. Final note on testing out of classes for college credit: Be sure your school accepts these as credits; some schools may accept the test to allow you to take a more advanced course, but may not award actual college credit.

Don't Live Alone

Living expenses are a large part of school costs, but they don't have to break your budget. The first, and most obvious way to reduce your living expenses, is to live at home.

If that isn't an option, then consider applying for a Resident Advisor position. RA's usually receive free room and board in exchange for a few hours work in the dorms each week. It's a great opportunity to save thousands of dollars each year!

The final suggestion is to live with roommates. Provided you can find several roommates, you can often rent a small house for less than you will pay if you lived in the dorms on campus or in a nearby apartment.

Get a Job Through Your School

Many universities offer work-study programs which pay students above minimum wage. There are often a variety of jobs, so try to find one that offers valuable experience instead of a job that doesn't offer anything on your resume. Check with your school for availability, schedules and pay rates.

ROTC

The military isn't for everyone, but if you are the adventurous type and don't want to pay for college, then think about joining a military ROTC program. In most cases, ROTC will cover part or all of your tuition and will guarantee you a job when you graduate. Where else will you find a company or organization willing to pay for your undergraduate degree and guarantee you a job?

Be a Full-Time Employee, Part-Time Student

This is the last tip and it certainly isn't for everyone. Not only will it take longer to complete your degree while working full-time, but you also run the risk of being sidetracked and not finishing at all. It takes a lot of motivation to go this route, but it can be worth it, especially if you can get employer's tuition assistance to pay for all or most of it. This was the route I took--I went to college while on active duty and completed my Bachelor's Degree.

There are hundreds of ways you can save money on college costs, but you need to be willing to put in the time and effort to seek them out and apply them. Trust me, the savings and lack of student loan debt is worth it!

Ryan Guina is an entrepreneur and writer. He has worked for Fortune 500 companies and served six years in the USAF. He writes about money management and small business topics at Cash Money Life and military money topics at The Military Wallet. You can follow his twitter feed.

by http://www.gobankingrates.com