John E. Pytte March 7, 2016

College debtEverything in the world of education is a la carte. The only other place this happens is in five star restaurants, and if you are not willing to pay the price, most of the time you simply do not go in. It is impossible to get by in today's world without a proper education, however, and the people behind the rising costs of education know this.

How Does Student Loan Debt Start?

No debt starts out as a huge, unmanageable sum. Everyone goes into their college or university thinking that they can handle the debt with a work study program, a few good loans and perhaps a lucky grant offering. People tend to place themselves in the best case scenario when the potential for debt gets large, and this is the first step to financial failure.

A la carte dinners start off with a relatively inexpensive appetizer. However, you are immediately pressured into getting all of the extras that go along with the first dish; otherwise, you miss out on the "full experience." Because you are already in an overly positive mindset about your financial situation and your money is not officially used up yet, you overspend at the beginning of the process for things that you do not need.

Underestimating the Costs

Most people also do not take into account that they must purchase books, food, clothes, toiletries and other living expenses while in school. All of this happens while the best part of the working day is taken up by classes. If a student as a job on the side, he or she will never be able to complete as many hours as initially thought. Studying for classes will often take precedence, or the student will often simply be too tired to go to work.

The financial cost is not the only cost that students underestimate. The mental cost of earning a degree and working simultaneously takes its toll as well. Every “off day” in which a student misses work turns into lost income that comes directly out of the budget. Bills are late, and fees pile up.

How to Avoid Debt

Be a pessimist from the very beginning of the process. Calculate that you will miss around 10 percent of your work study hours because you will need to prepare for your classes and complete homework. Factor in that you will need more toiletries, clothes and food than the bare minimum. 20 percent more than the initial estimate is usually a good number to go by. This will keep you from budgeting too low and missing out on essentials that will only slow you down and put you in more debt later on.

Directly focus on the classes that you need to get the degree that you want. Take no other electives, no matter how much the school may pressure you to do so. Consider online classes for a reduction in cost.

Student Loan Forgiveness

There are student loan forgiveness programs out there for certain students, and if you qualify, you should do everything that you can to get included in one. In most cases, you have to be in a certain discipline with a certain level of performance in your classes. This is not always the case, but these students will take precedence most of the time. If you do not fit the criteria, you must look more deeply for programs that may not be as openly advertised.

Do not let the Masters of the Universe nickel and dime you into oblivion, fooling you into thinking that you need every single amenity and extravagance in order to get a decent education for yourself. Follow the tips above to stay out of student loan debt, and watch your pockets when it comes to anyone who is selling you information that does not lead directly to a return on your investment.

For help with Student Debt Forgiveness, call the experienced debt relief attorney; John E. Pytte. The law offices of Mr. Pytte have seen many students who are up to their ears and debt, and either helped these students or alumni eliminate their debt entirely or at least decrease it to a more manageable amount. Call today for your free legal consultation.