September 2009 / SLFC

Two Options to Avoid Student Loan Debt

Now more than ever college students are looking for ways to minimize the amount of student loans they need to take out. One way to keep the amount you are borrowing in student loans low is to check out options that pay you, while you attend college.

Work Study instead of more student loans.
A work-study program is where undergraduates and graduate college students can work while they’re attending college. With a federally subsidized work-study program, students are able to reduce their needed college loans by working while they attend college. The FWS Program provides funds that are earned through part-time employment to assist students in financing the costs of postsecondary education. Read more about college work-study program.

Co-ops instead of more student loans.
Work a job in the field you are studying. “The co-op model was developed by a national committee of experienced practitioners. The boards of the National Commission approved the definition and essential characteristics for Cooperative Education, Cooperative Education Association and the Cooperative Education Division of the American Society for Engineering Education. Also included are a list of anticipated outcomes and five model variations for implementing co-op in colleges.

Cooperative education is a structured educational strategy integrating classroom studies with learning through productive work experiences in a field related to a student’s academic or career goals. It provides progressive experiences in integrating theory and practice. Co-op is a partnership among students, educational institutions and employers, with specified responsibilities for each party.”

Read more by visiting www.co-op.edu


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