Top 5 Ways to Earn Money for College Without Taking Out Student Loans

Paying for college can be one of the largest expenses of your life, but it's one of the most important steps for getting ahead in today's world. Many students feel like they have no choice but to turn to student loans and take on large amounts of debt to pay for their education - Dave Ramsey notes there are over 44 million student loan borrowers in the US today. The truth is, there are lots of different ways to reduce the cost of getting a great education. Here are some of our favorite ways to earn money for college that don't involve student loans.

Track Down Grants and Scholarships

If you haven't looked into it before, CNN Money reminds us it can be a real surprise just how many different types of grants and scholarships are available for current or prospective students. Merit based scholarships for academics or sports are a good option, while other grants are based on heritage, personal history, or need. There are lots of tools online that help you filter through and apply for options relevant to you, so there's no reason to leave money on the table. Apply for as many grants and scholarships as you can - every dollar you win is one less you have to pay yourself!

Think About Directional Schools

While many states in the US have a premier state school, Clark.com suggests looking at directional schools that are often identified by a name with a geographical location, like Illinois Central College. These schools are less focused on large scale, expensive research projects and therefore can charge less while providing better classroom conditions and educational experiences overall.

Learn by Teaching

All sorts of companies in the US offer to help pay for part of education expenses for employees who meet certain criteria including Starbucks, Chipotle, and UPS. College Values Online points out that while not always well publicized, companies are often very eager to make investments in their employees in the hopes it will benefit their business as well. Depending on your career path and goals, many businesses will pay for part of a Master's degree as well. Take note of the requirements for these offers, as some may require you to remain with the same company for a period of time to reap the full benefit.

Check Out Employer Reimbursement Options

All sorts of companies in the US offer to help pay for part of education expenses for employees who meet certain criteria including Starbucks, Chipotle, and UPS. College Values Online points out that while not always well publicized, companies are often very eager to make investments in their employees in the hopes it will benefit their business as well. Depending on your career path and goals, many businesses will pay for part of a Master's degree as well. Take note of the requirements for these offers, as some may require you to remain with the same company for a period of time to reap the full benefit.

Take Summer Classes

Classes offered during the summer (or sometimes in the winter if the school has a particularly long break) are often more compact and intensive, but they also typically have a lower price tag. Dough Roller notes that If your course load is in a state were a few summer classes could let you graduate a semester early, you could save thousands of dollars on the final bill.

Whether you're a young adult just approaching another step in your educational journey or a professional looking to improve your skills or make a career shift, there are lots of ways to pay for college that don't involve taking loans with interest rates that will cost you thousands of dollars. Use these tips to build a brighter future and get an education at the right price.