How to Avoid Hefty Student Debt

By Renee Rizzo | February 14, 2022

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When I was in high school back in the early 2000s, 4-year college was frequently brought up by adults as the only viable option to get a well-paying, respectable job. If a student was considering community college, it was merely a stepping stone to pursuing a bachelor’s degree at a 4-year college. And that’s exactly the path I took. By the time I graduated from Columbia College Chicago in 2010, I had accumulated about $80,000 in student loan debt, not including interest.

My situation is unique. For one, I went to a private college, which is generally more expensive than a public university. I was so determined to go to a fancy private college in downtown Chicago that I didn’t think about the literal price I would pay in my near future, not to mention a few more decades. If you’re wondering, I still have nearly a decade to go before my student debt is paid off.

If I could give my younger, oh-so-determined self some advice, it would be simple: avoid crippling student debt. While millions of millennials, 14.8 million to be exact, have fallen victim to taking on massive student debt, younger generations are noticing and exploring other educational pathways to have rewarding careers.

Busting Myths

There’s this myth, at least with my generation, that 2-year colleges and technical schools don’t provide adequate education to get a fulfilling, high-paying job. The truth is, 2-year colleges and technical schools provide highly specialized training, in some cases similar training to 4-year colleges, in a shorter amount of time so you can start your career sooner.

Technical school bonus: training is so specialized, you’re usually not required to take general education courses, unless it’s part of the degree or certificate you’re pursuing. You save time and money taking only the classes that apply to your career.

To be clear, I’m not saying you shouldn’t go to a 4-year college. I’m proud of my education, I just wish I knew more about available options, including finances, when I was pursuing a bachelor’s degree. Scholarships, for example, would have been a big help.

Stephen Britten

Take Stephen Britten, a past NBT scholarship recipient who’s pursuing mechanical engineering at the Georgia Institute of Technology, a 4-year college. The funds he received from the foundation enabled him to further his education with less debt.

In Stephen’s first semester at Georgia Tech, he’s already learning about manufacturing-related technologies and tooling. “I’ve been gaining lots of incredible experience in manufacturing and have been exposed to, trained, and tested on some amazing manufacturing equipment: sheet metal machines, 3D / resin printers, laser cutters, CNC machines, and waterjet cutters,” said Stephen.

Wouldn’t you know it, you can learn about those same manufacturing technologies at hundreds of community colleges and technical schools across the country such as Harper College, Madison Area Technical College, and Ogden-Weber Technical College.

Whatever educational path you’re considering, just know that you have many options that can get you closer to a prosperous career with reasonable or no student debt.

Apply for a Scholarship

Are you enrolled in a skills training program or pursuing a manufacturing-related degree? NBT awards scholarships up to $2,500 to students enrolled in these eligible fields of study. Up to 35 scholarships will be awarded this season! The scholarship application is open through March 31.

About the Author

Renee Rizzo

Renee Rizzo is a print and digital copywriter for FMA. Prior to FMA, Renee worked for an advertising agency in a Chicago suburb and began her copywriting career at CDW (Computer Discount Warehouse). Learn more about Renee on her professional website or on LinkedIn.

Read more by Renee Rizzo

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