I Graduated With My Bachelor’s Degree 10 Years Ago With $0 in Student Loan Debt

Money

Dec 12

On December 12, 2014, I walked my last commencement ceremony, receiving my bachelor’s degree in English. I was 19 years old and completely burnt out.

But I did it. I successfully made it through college with $0 in student loan debt — and no, I’ve never had a trust fund.

Here’s how I pulled it off:

College prep began in high school

I began planning for college at 16, a year earlier than most because I skipped my freshman year of high school.

While planning my junior year course schedule, I filled it with Advanced Placement (AP) and Project Running Start courses that would grant me dual high school and college credit. When I graduated from high school in 2012, I had accumulated 18 college credits.

With these credits, I saved an entire semester’s worth of tuition.

In addition to my college-level classes, I took on two internships in the fields I was considering: One with the local newspaper and the other with a wedding photographer.

At the time my intention was to be a journalist and fine art photographer. But after interning with the Littleton Courier, I realized journalism wasn’t the career I wanted to pursue.

It was my internship with the award-winning Rodeo & Co. Photography that inspired me to switch my focus to owning a portrait photography business.

I selected my major carefully

Photography degrees are expensive. If I wanted to pursue a degree in that field, I’d have to attend a specialized school away from home, which would lead to higher tuition costs and a housing expense.

Instead, I decided to continue with my original intention of pursuing an English degree, which are versatile and offered at most institutions. I knew my photography business would take a few years to reach the level of supporting me, so I wanted the job I worked in the interim to be something I was good at and enjoyed.

(My degree helped me land positions with my local chamber of commerce, an area marketing company, and as the executive assistant to a restauranteur, all of which contributed to me pivoting to the business I have today and gaining my early clients.)

I applied for scholarships like it was my job

I quit my part-time job during my senior year of high school to focus on scholarship applications.

My parents were highly skeptical.

But to this day my mom says it’s one of the best moves I ever made. As a result of the focus I placed on my applications, I received tens of thousands of dollars in scholarships — more than any other student in my high school graduating class.

These scholarships covered my first few semesters of college.

I enrolled in most of my gen ed and elective courses through my community college

Though I was enrolled with a state school in the fall, the tuition there was pricer than at my community college.

My Project Running Start credits from high school were awarded through White Mountains Community College (WMCC), so I decided to enroll in their general education courses during the summer post high school.

I earned enough credits that summer to officially begin college in the fall as a sophomore.

I learned the “buy in bulk” system

In addition to summer classes at WMCC, I enrolled in summer classes through the school I’d be attending that fall, Lyndon State College (now part of the Vermont State Colleges system).

My summer classes at WMCC and Lyndon State were cheaper than they would have been in the fall and spring semesters because summer semester students are considered part-time, meaning no fees are charged.

Instead of paying a bulk rate that included fees, I was paying per credit for my summer courses.

When I did pay for fall and spring tuitions, I maximized my course load to ensure I was receiving the best value.

I earned an associate’s degree first

My mom advised me to earn an associate’s degree from the community college so I could complete a stepping stone while working towards my primary degree.

In May 2013 I graduated from White Mountains Community College with my A.A. in Liberal Arts.

When I sent my WMCC transcript to Lyndon State, not only did my associate’s degree satisfy their gen ed requirements, it also allowed me to skip their required intro to college classes.

For my four-year program, I chose a state school

State schools offer cheaper tuition than private institutions.

Though I was not a Vermont resident, Lyndon State offered discounted tuition to students based in New Hampshire, so I paid about the same as I would have had I attended a New Hampshire state school.

Note: When I was attending college, New Hampshire ranked as the most expensive state for in-state tuition with Vermont coming in at a close second. Though this worked against me, I was still able to meet my no debt goal.

I commuted

My mom really wanted me to live on campus. Not only because she was looking forward to empty nesting, she wanted me to have the full college experience.

At almost $10,000 a year, I did not. (To be fair, I knew I would have hated communal showers and college food.)

Instead, I commuted 50 minutes one way to Lyndon State, saving me the room and board expense.* My commute to WMCC was 15 minutes.

And because I drove a Volkswagen Beetle, filling my gas tank was inexpensive.

*I was 17 until my first spring semester so my parents were responsible for my room and board for nearly my first year of college. When I turned 18 I was still considered their dependent because I was a college student, so they claimed my tuition on their tax return. We considered this my rent payment.

I purchased books through Amazon

College bookstores add a major markup.

Though my college bookstore offered rentals, I opted to buy used books on Amazon. In most cases, I earned my money back when I sold them at the end of the semester.

My family kicked in

Though I don’t have a trust fund, I do come from a family of savers.

Both my maternal grandparents and dad discovered the magic of 529 savings plans so I had two. My paternal grandparents gave me treasury bonds every year for Christmas — which I hated at the time but was later most grateful for.

The savings from my family covered almost three semesters of tuition. (I enrolled in eight semesters, including summers.)

I graduated very, very early

I was 19 when I graduated with my bachelor’s degree. Though I graduated from high school a year early, I wasn’t set to complete a four year program until May 2016. I finished in December 2014.

The fewer semesters you’re in college, the less you pay.

Most students attend eight semesters. Technically I did as well, but three of those semesters were during the summer when tuition is cheaper.

Along with enrolling in classes during the summer, I maxed out my course load during fall and spring semesters. I was in seven classes one semester!

I worked part time

I planned my course schedules so I only had to commute two to three days a week, which allowed me to work 25 hours a week as a teller at my local bank.

Though my friends in the restaurant industry earned more, I was building my professional resume. A year after I started with the bank I was promoted to residential loan assistant, which further developed my resume (and gave me invaluable information I called on when my husband and I purchased our home a few years later).

My bank job also helped me establish connections within my community that led to photo shoots and marketing work through my business, which I officially started in October 2013.

And when I had a tuition deficit my very last semester of college, the money I had saved from my paychecks was able to cover it — even though I quit earlier that year to focus on my semester of seven classes.

Graduating with no student loan debt is still the most challenging goal I’ve ever accomplished.

I grew up in a family with strong financial literacy and I excelled in school. Pair those traits with impeccable planning and I achieved the impossible.

Starting my adulthood with no debt gave me the freedom to quit toxic jobs, pursue my entrepreneurial dreams, and achieve The American Dream of homeownership— three areas members of my generation struggle with.

Though I was able to do it, it’s not feasible for the majority of students to graduate without debt. The higher education system in the U.S. needs an overhaul and high school guidance counselors should be educating students on the impact of loans. And encouraging students to attend community colleges and state schools.

Tips for Reducing Your Student Loans — Before You Borrow

Ask your family if they set up a 529 savings plan for you and consider making contributions towards it.
My 529 savings plans had a higher rate of return than the bonds my grandparents had purchased throughout the years.
Graduate from high school with as many college credits as you can.
Apply for scholarships and ensure you submit everything they require.
I was told by representatives from multiple scholarships I was awarded that I received them because I was the only applicant to send in everything they asked for.
Start at a community college to earn your gen eds and elective courses at a reduced tuition.
If you earn an associate’s degree, especially if it’s in a liberal arts focus of study, you can likely skip many if not all of the required gen eds and other courses at a four-year school. Plus, your commute will likely be shorter and your class schedule will be more conducive to working a part or full-time job.
Transfer to a state school.
This may not be an option depending on your program of study, but a state college or university’s tuition is cheaper than a private institution’s. Your credits from a community college are also more likely to transfer in.
Look into online options.
Though online courses were a thing when I was in college, and I enrolled in as many as I could, they’re more prevalent now and could be cheaper than their in-person counterparts.
Purchase books through Amazon and sell them at the end of the semester.
Ship via media mail to save money!
Work part-time.
Pay towards your tuition while building your resume. The money I saved from my banking job allowed me to pay the tuition deficit during my last semester and pay the closing costs on my home.