College Student Credit Card Debt

Perhaps the single most effective way to avoid excess debt as a college student is to get a grant or scholarship for college.  The best part about grants and scholarships for college is that they are essentially free money given to a student to help pay for their college.  Grants and scholarships are great because they free up money to be spent in other areas (such as food, books, room and board, etc.) so that students avoid going into debt with too many expenses.  So, how do you find out if you qualify for a grant or scholarship?  Well, there are essentially three types of grants: federal, state and institutional grants.  Federal grants are the easiest to qualify for and receive and are usually given to students who are able to demonstrate the most financial need.  You can be eligible to receive a federal grant by filling out the FAFSA form (Free Application for Federal Student Aid), and we would encourage all students to take the time to fill one out.  State grants vary from state to state, but there are numerous state grants available and they are definitely worth looking into.  Sometimes, even if you don’t qualify for a federal grant, you can still qualify for a state grant because they have different criteria.  Finally, there are also many institutional grants available that students can qualify for, along with thousands of scholarships.  All of these are worth looking into as a way to potentially save money and avoid excess credit card debt in college.  We encourage all students to find grants for college today!

Author: Nathan Wixom