Minimize Student Loans by Transferring from Community College

by Chad Agrawal

Transferring from Community College Student LoansCollege is a massive expense, and any one who has received an undergraduate degree or graduate degree have probably experienced it. Sure, students loans are there to help you, but don't be naive about them. It's important to know better about loans and lenders, this way you can avoid getting scammed or being taken advantage of over your hard earned money (or perhaps your parents' hard earned money). When you take out too many loans for college, you could wind up hurting yourself down the road when monthly payments are hard to make. Taking out loans to live off campus is fine in certain cases, but you must consider some important information.

Student Loans at a 4 Year College

If you're not transferring from community college to university, students generally have both on campus and off campus housing options at the regular 4 year college. When students apply for financial aid to help them with their college tuition, the package generally includes money for both the educational expenses and the dorm expenses. Some students are even be able to factor food and books into this plan.

However, these needs are going to vary based on the financial situation of the student and/or his or her parents. If the school offers on campus housing, and the numbers just aren't adding up, this is a suitable alternative to living off of the campus. Off campus houses are usually quite close to the school, so the student is not missing out on much. In this situation, where a student has both on and off campus options available, he or she should really consider if that extra money is worth it.

Student Loans at Community College

Now, let us consider the case of community colleges. It's rare for a community college to have dorms. There are some community colleges with housing, however, students may feel that they are really ready to live on their own and opt to live away from home for 2 years at community college. Students at community colleges might be older individuals looking to go back to school after many years in the work force, but they cannot keep working full-time while they are also attending classes full-time.

Another possible scenario is that a student from one state has heard such excellent stories about a community college in another state that he he or she really wants to attend classes there. The situation is similar to the one described above. When the student applies for financial aid, he or she will be able to also receive money for living expenses if the need is determined to exist. Furthermore, students could also look into taking out a personal loan from the bank if standard student aid does not wind up working out.

Financial matters are difficult to understand and grasp for many people, and they can be particularly difficult when students are navigating the ropes of pursuing a community college degree too.

Getting the Most Out of Student Loans

Therefore, it is also best to speak with a financial adviser at the community college you're going to attend. These individuals cannot tell you exactly how much money a student is going to receive, but they can present other options if the first plan does not work out, and they can explain to the students how to fall out all of the necessary forms and paperwork.

Avoiding debt will give you more financial freedom after transferring from community college and graduating with a bachelors degree. The best way to save money and minimize your student loans is by living at home for 2 years while attending community college, transfer to a top university and figure out quickly if it's cheaper to live off campus or on campus. In the end , it's worth it and you'll have a great college experience.

Click here to learn more about transferring from community college to top universities. 

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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