student loans Graduating with a mountain of student loan debt is definitely a downside to college. However, some careers require a two or four year degree, wherein college is inevitable. On average, college graduates owe approximately $15,000 in student loans - more if they attended an out-of-state or private institution. The only way to avoid costly student loans is to either pay for your education out-of-pocket, or reduce your debt while still in school.

Student loan repayment does not begin until after graduation. Moreover, graduates enjoy a six to nine month grace period. This provision is convenient and perfect for most students. However, if you want to keep the debt low and manageable, consider making loan payments before graduation. Even if you only pay down the interest, this makes a huge difference.

Another way to avoid costly student loans is to pay for your own education. True, this is burdensome in the beginning. However, you will not have a student loan payment upon graduation. With less debt, you'll be able to purchase your first home or buy a new car.