Why Average Community College Debt Relieves 4-Year College Loans

by Chad Agrawal

Average Community College DebtIf you tried to find out the average community college debt, you would probably have a hard time finding a solid statistic. Most major educational resources provide averages on student loans, debt, etc. However, they do not offer much information on 2-year community colleges. Why not?

Community colleges are so cost effective that many students are able to pay their way through school. In many cases, community college foundations help students secure scholarships and grants to pay tuition. After reading this post, you will find out why community colleges have such a low average debt compared to 4-year colleges.

Transferring From Community College To Avoid Debt

Community colleges cost only about $3,600 per year for full-time enrollment while universities can cost you upwards of $20,000 for the year. While most families and student can save up $3,600 over a year, it is quite different than saving up $20,000 in a year. Most families and students are not able to manage that expense so easily and turn to student loans.

However, if you attending community college for two years, then transfer to university. You will be saving yourself and your family at least $30,000 over two years. And if you plan accordingly, you might not have to take on any debt while in community college and then take on a minimal amount while attending a 4-year college.

Staying Below Average Student Loan Debt

According to The Institute for College Access & Success, the average undergraduate bachelors student is taking on $26,500 in debt by the time commencement ends. By transferring from community college, you can definitely stay below the average. Having less debt to pay off, you will also be able to pay off your student loans much faster which saves money too.

What if you don't go to community college first? Well, hopefully you were able to receive some scholarships. But, if you decide to go to a university and take on $200,000 in debt, that is up to you. There are very few industries that offer starting positions that can pay off an amount that big in one or two years. In the end, you might end up turning to a Debt Relief Company in order to make ends meet.

If you are not financially prepared for 4-year college tuition rates, you will be way better off by saving money at your two year community college first. Who knows, if you work hard and succeed in community college, you just might end up transferring with a full-scholarship. Or even better, you might just transfer to an Ivy League university!

Photo Credit

This post was written by Chad Agrawal

Chad Agrawal is the founder of CCTS, helping students transfer from community college to Ivy League, tier 1 or anywhere else by following this community college guide.

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