I ran across a blog from Broketo.ca the other day where they talked about how they managed to graduate from University without any debt.
For perspective: I did some quick math, and I estimate my total expenses over four years (literally everything from tuition and rent to groceries and toothpaste to buying clothes and going out on weekends to buying a computer) to be somewhere in the range of $60,000–$65,000. Because I live in a large city, rent was the most significant expense. There are things I could have done to make the total of the four years more or less expensive, but none of those things are relevant. I did what I did, and this is what it cost…
…I lived really frugally. This is a no-brainer, obviously. I spent next to no money. I think my budget for the month (after rent) was about $200, which included everything, including groceries and my cell phone. It was grim, people. The $100 grocery challenge? That was my life for years, except during my internship, when I lived on less.
Melissa posts some interesting ideas and viewpoints on how she managed to get her education without any debt. Some of it was very disciplined hard work, other parts were sheer luck. But the idea behind her article, which I think is most significant, is there are many creative yet hard-working facets that you could do in order to severely reduce education costs. Things like, being frugal, working part-time, living at home if viable are all very important when expenses are high.
I read on the news the other day that there is an upcoming “Student Loan Crisis” much like the “Housing Crisis” in 2010. Education is expensive, and people are seriously struggling right now. I’m fully aware at the potential this type of debt has to cripple many Americans in the near future. However, with some practiced willpower, patience and creative thinking, there are clearly ways we can get through schooling without it affecting our future in negative ways (it’s supposed to be positive, right?).