How to Pay for College Without Student Loans in 2024

The best way to pay for college without student loans is to be selective of your university based on costs, start saving for college early, and apply for all scholarships and financial aid.

On average, students who graduate with an undergraduate degree carry $37,338 of federal student loan debt into their careers. If they take out a private loan, the average is $54,921. And 20 years after graduation, half of borrowers still owe $20,000 in loans.

That doesn’t mean that attending college is worthless but it does provide some encouragement for students to find more creative ways to pay for school. Learn how to pay for college without loans to set yourself up for success upon graduation.

12 Ways to Pay For College Without Loans

While the student loan data is staggering, there are ways to pay for college without loans. Every student will find these ways apply to them differently so consider how plausible they are based on your circumstances.

1. Start Saving for College Early

From the day you become eligible for a job or side hustle, start savings funds for college. The joy you feel from purchasing a new video game or the latest trendy shoes will wear off quickly. However, the option to attend college without loans will truly last a lifetime. 

Request help from your family members to open a 529 plan for you, to help you save for your education. Instead of gifts for special occasions, share how they can put money in your college savings plan. Contribute everything that you can to this account throughout your high school years to help it grow so you have the best start possible in your college years.

Get set up with a budgeting app and be disciplined about putting your earnings toward education.

2. Choose Your College Based on Price

Where you attend college does matter but perhaps not in the way you think. Most employers see that you attended a university and move on from there paying little attention to the specific school. But how much your degree costs you, will depend heavily on where you attend.

Review tuition expenses before committing to a school. Consider what is affordable while also reviewing degree programs that fit your interests, to make sure you’ll walk away with the degree you want.

3. Choose a College Close to Home

One of the best ways to reduce college expenses is to avoid room and board. Living at home while in college will save you tens of thousands of dollars. Plus, it can mean that you keep your current job while attending school, which can further impact your college financials. 

Attending an in-state school is also considerably less costly than going out of state at public universities. Even private institutions offer small discounts for in-state students.

When you are in an area you’re familiar with, you also might spend less entertainment money going out because you’re familiar with your surroundings. 

4. Take Classes at Community College First

Once you’ve chosen your university, ask about what classes transfer easily. Try to take your electives at a community college near your home throughout your final year of high school, the following summer, or as your first year of college before attending your university of choice. This can also help to reduce the expense of college. 

The average cost per credit hour at 4-year institutions is $575 while it is $129 at 2-year schools. The more credits you can transfer into your 4-year institution the better for your pocketbook. Just be sure that you take classes that transfer easily because you don’t want to spend money on community college for it to be wasted.

5. Work Alongside Your Studies

The stress of school is often immense for students, which makes the idea of working at the same time hard to imagine. But you’ll start getting work experience, which can help you land your first full-time job after you graduate and you’ll have constant income to help pay tuition as you go through the semester. There are also opportunities to sign up for money making apps for side hustles while studying.

6. Apply for Scholarships

This process can feel time-consuming, which leaves many students setting it aside as an option. However, earning a scholarship can help you chip away at your total student expenses or even supply a full ride. You’ll find scholarship options that fit a variety of student demographics, activities, interests, degrees, specific universities, and more. 

Many scholarships come with requirements, such as scoring high on a test or being involved in a club during high school. You might need to get letters from your teachers, workplace managers, volunteer organizations, and more as part of the application. You also might need to write essays and get transcripts.

Search for scholarship websites based on where you live, the school you’ll attend, your demographics, and more. But also reach out to your chosen university’s financial aid office to ask about specific scholarships that might be available through your university.

7. Complete Financial Aid Applications

FAFSA (Free Application for Federal Student Aid) helps determine your eligibility for aid from the federal government based on tax bracket, number of family members, and several other factors. Don’t leave those funds on the table just because the application process is stringent and involves many documents. Your school might also provide financial aid based on your needs and family data. 

You might also qualify for a federal grant, which does not have to be repaid upon graduation. Some grants are thousands of dollars to help offset costs for your studies.

8. Look into Family Discounts

You’ll need your parents’ help for this one. Many universities offer steep tuition discounts to those whose family members work there. Consider whether your parents might be able to make a job change to work at a local university to greatly reduce your tuition over the next several years.

9. Find an Employer That Pays College Tuition

Even if you’re part-time, many employers will pay a portion of your college tuition. Sometimes this comes with caveats that you must stay at the employer for a set time after graduation or after they pay your final tuition payment. But it can be well worth the time.

10. Consider Trade School

A traditional four-year college degree isn’t for everyone. The trades need workers and the pay right out of school can be excellent. Plus, trade school costs far less than a traditional 4-year degree. Some careers worth exploring include plumbing, electrical, HVAC, and carpentry. You’ll graduate faster and get to your career quicker to have less financial impact for your lifetime.

11. Apply to Tuition-free Schools

Some schools offer completely tuition-free attendance to students they admit. The only catch is, you’ll have to meet stringent criteria to earn a spot. This option isn’t for everyone but those who qualify find that earning their degree here is impactful.

12. Join the Military

Active-duty military members can benefit from tuition assistance. While it might not be your first choice for a career, it can help you save money on college and jump-start your opportunities. You’ll still be limited in where you can go and what degree you can seek but it’s worth exploring. 

Set Your Financial Future Up for Success

Student loans aren’t all bad but the more you can limit them, the more you’ll set your financial future up for success. Paying for college without loans can help you get better rates on auto loans, mortgages, and more. Plus, you’ll see more of your paycheck each month to be more strategic about long-term savings, such as retirement and investments. Use these strategies to mitigate education expenses while getting the knowledge you need to succeed in the workplace.