How to Graduate from College Without Going Into Debt

To go into debt, or not to go into debt?

That is the question – one many college students ask themselves as they think of how to afford a college education.

You hear horror stories about twenty-something college graduates leaving school with a four-year degree in one hand and a load of debt in the other they may spend the next couple of decades trying to repay.

Is it worth it?

And if it is, what’s the best way to keep the debt at a reasonable level relative to future earning potential?

These are important questions considering how easy it is to borrow money, often much more than we need or can afford to pay back. Without sufficient financial acumen, students may shackle themselves to a ball and chain of debt they’ll drag behind them for years that could even prevent them from doing with their future what God has called them to do.

That’s not just empty rhetoric. Proverbs 22:7 says, “The rich rules over the poor, and the borrower is the slave of the lender.”

Think of the Christian young person hoping to go into a field of service for the Lord that’s meaningful, but that doesn’t pay very much. Unwieldy debt can make that endeavor difficult to pursue if not downright impossible. The same could be said for a secular position that fits the student’s talents and passion. The monthly payments a heavy debt load requires could force them into a different career based strictly on the salary potential alone.

There is a lot to consider. How much debt is too much? Should parents try to cover their child’s entire tuition, or should they expect their child to earn money him- or herself? Should some young people even be expected to go to college in the first place? How important are ACT and SAT scores, really?

We’re going to answer those questions and others today on our broadcast with our guest, Dr. Alex Chediak, professor of engineering and physics at California Baptist University in Riverside, CA. Also joining our discussion is Lisa Anderson, who spearheads Boundless, Focus on the Family’s ministry to singles and college-age young adults. She’ll reflect the thoughts and questions of the twenty-somethings who are working through these issues.

If you’re a college student or the parent of a soon-to-be college student, I think you’ll find this broadcast, “Going to College Without Going Into Debt” a helpful guide as you navigate the pathways of higher education. Join us on your local radio station. Or tune in anytime online or via our free, downloadable mobile phone app.