Dealing With Debt: More Ways to Finance Your Education

One way to avoid debt is by getting forgivable loans.

It’s that time of year. School bells are ringing, students are packing up and heading to bite-sized dorm rooms and searching for discounted text books. They may also be trying to figure out how to dodge mounting student loan debt. In an extension of How to Pay for Grad School and Alternative Ways to Pay for College (Alpha; $18.95), BlackEnterprise.com has found more ways students can lessen the amount of loans to pay for undergraduate and graduate degrees.

Upromise: With Upromise.com students can register their debit or credit card on Upromise.com and start receiving up to 25% cash back from thousands of retailers when shopping online, eating out at restaurants or buying groceries. “Retailers will contribute the money to a college account for yourself or they will put the money you earn directly toward paying down your student loans with Sally Mae,” says Ken Clark author of the soon-to-be released book, Complete Idiots Guide to Paying for College. Clark says the money you earn can amount to $250 annually.

Forgivable loans: “In a lot of states, if you’re going into a certain profession, the state will offer students loans, and if the student goes into the field the state will forgive the loans,” says Clark. For more, visit FinAid.org .

Work for the military: “Another huge way I see people benefiting is from joining the military reserve,” says Clark. According to FinAid.org, GI Bill benefits cover three-fifths of the average cost of a college education. Unfortunately, one-third of eligible veterans fail to use the benefits.