Paying for School

These days, post secondary education is extortionately expensive. With easily accessible student loans, one may think that schooling is easy to pay for. But alas, students graduate only to face an insurmountable loan. Yikes! After graduation is usually when you need money the most. That's when you can explore the world and live out your independence. Unfortunately, a big loan is going to set back your plans by many years. So here are some practical things you can do while at school to avoid this situation down the road.

Minimize Borrowing

• Student loans are a valid payment option but minimize your use
• Do your best to keep your student loans under 1/2 of your projected gross annual income of your first job (yes, start thinking about how much you can realistically make in that first job out of school)

Co-Operative Education (or some kind of paid internship program)

• This is the single most valuable experience in my personal schooling
• It helps pay off school (and other luxuries)
• Provides work experience - prevents the proverbial catch-22 problem of experience/skills
• Helps develop confidence, job interview skills & resume writing skills
• Helps build professional networks

Work on Semester Breaks

• If you take a semester break, get a job

Scholarships

• Apply for scholarships if you think you might qualify
• You'll never know if you'll get one unless you try

Spending

• Students need to practice spending behaviours on a shoe-string budget
• Pack your lunches as much as possible
• Get that bus pass and whatever discounts available for students
• Live at home with your parents if you can