11 Ways to Graduate with Less Debt

I never signed up for a credit card while I was in college but I still racked up the debt…student loan debt. I’ve got 17 more years of payments left to make to Aunt Sallie Mae, and that’s with the generous help of my parents taking out parent loans, paying for books, and sending spending money.

I happened to come across a smart little article on MSN on how to Graduate with Less Debt. Here’s the highlights:

Stick to a four-year plan – While this sounds good in theory, it took me four and a half years to graduate, and I worked my butt off. I’ve heard statistics that less than half of students now graduate within four years.
Get a campus job that really pays – Does such a thing exist? I had friends that worked for minimum wage, all hours of the day and night. Better options should be available to students.
Get responsible – It’s never too early to budget!
Cool your jets – There’s no rush to get a credit card. Wait till you have graduated and have a steady job! Then fall back on the responsibility you lean red budgeting through college!
Use a debit card – They are like credit card with training wheels.
Check credit unions – They typically have great rates, fantastic customer service, and it’s a chance to start building a relationship with a reliable financial institution.
Freeze your plastic – If you can’t keep your hands off your credit card, put it in a jug of water and freeze it. Can’t take a huge hunk of ice to Nordstrom’s for a impulse buy, can you?
Be realistic about borrowing – If you borrow now, you have to pay later. So keep those payments in mind when borrowing!
Research loans – Don’t sign anything you don’t understand. Words to live by.
Max out federal loans first – Before you take a private loan, exhaust your government loan options. You wouldn’t believe how much you’ll save without interest accruing for four years.
Investigate nontraditional lenders – There are state loan programs, employer loans, credit unions. Know your options before you make a choice.