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How to Pay for College without a Student Loan

How to Pay for College without a Student Loan


When you take all college expenses into account including tuition and accommodation, the grand total will usually add up to an intimidating figure. The unfortunate thing is that the majority cannot afford this. But just because you can’t afford it, it doesn’t mean you do not deserve it. After all, education is a right as much as it is a requirement. The most common solution for this problem is student loans. But people have started to realize that these loans are more of a problem itself. If you have difficulties in funding your college education due to financial constraints, here are some alternatives that you should consider which tell you how to pay for college without a student loan.


If you are a gifted student, make the best use of it. Many NGOs and charitable organizations offer scholarships for college applicants. Some scholarships are solely need based. Students with poor family incomes will be eligible for this scholarship. Their financial need will be found by calculating their savings, income and expenses through a standardized calculation format. On the other hand, some scholarships are given for merit. This can be either academic or achievement related. That is, students who have performed exceptionally in the class and in sports and other fields will be given a significant reduction in annual tuition fee.

Education savings plan

The contributions are usually made by the parents and students and are used only for the child’s educational purposes. It is wiser for the parents to start this savings account earlier since the earlier you start, the more you save. Since the money is prearranged, there is no need waste your time looking for loans, grants or scholarships.

Part-time work

Instead of depending on external sources, it’s a great idea to take the initiative yourself. During your last few years in high school, you will have plenty of free time. Be wise enough to utilize this time for your benefit. Finding a part-time job to work after classes or during the weekends and semester breaks is a great way to reduce your parents’ financial burden. Although you may not earn as much, you will gain experience and knowledge which will look good on your college application.


This refers to money collected from family, friends and relatives. This is not a grant or donation but rather only a temporary loan. This is a preferable alternative to bank loans since it does not include interest rates. Moreover, you do not have to present your high school documents and financial records to your grandmother to earn her trust. Though it may feel humiliating, you will have to swallow your pride and seek for their assistance if you wish to graduate from college.

Although student loans are easy to get, they will haunt you long after you graduate.  So instead of graduating with heavy debts and uncertain career paths, it is wiser and easier to figure out easier alternatives before applying for college.

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