5 Takeaways from “Debt-Free Degree”

“Debt-Free Degree” by Anthony ONeal guides parents on how their children can earn a college degree entirely without acquiring debt. Graduating debt-free will give students a headstart above 70% of their peers.

I was shocked that students could start preparing for college in middle school. Sure enough, there are scholarships and other opportunities that youngsters can start looking into in middle school and early high school.

College debt is a massive burden for young people graduating with (or without) degrees. More than likely, their initial job out of college will not pay enough for the adult to pay student loans and save for the future.

Parents and students must do everything in their power to graduate school without debt. This may mean staying home and attending a community college or taking a “gap” year after high school. Now, let’s get into my five takeaways. 

1) Choosing a college is a business decision. You have to look at the return on investment that a child gets for going to a specific college. If a school costs 200% more than another, will the student get a job that pays 200% more after graduating?

2) Taking a college campus tour is an excellent idea for middle schoolers and high schoolers alike. It opens young people’s eyes and minds to what is possible. This trip can solidify their determination to attend college.

3) Student loans can prevent adults from saving for emergencies and their future for 5-20 years. Debt is also crippling because they have to work immediately to start paying their loans. The only viable option is to graduate without student loans.

4) I was surprised to learn that many states have programs that offer free community college to students. That could be a significant win and allow them to save for their transfer to a four-year program.

5) Apply for as many scholarships as possible. Start with local scholarships because there is less competition, and then move on to nationwide scholarships. The chances to win a national scholarship are low, so prepare your children.

I never attended a day of college in my life. I joined the Marines ten days after high school and never looked back. However, I now have two sons who are approaching college age. 

I have the G.I. Bill for at least one of them and have some plans to leverage real estate for the other, but this book gave me even more options. There are so many ways to save some money here and there.

I learned that some schools offer work programs to reduce tuition by 25-75%. Also, my son can apply for scholarships after the freshman year of college because dropouts free up more money.

Little tips like this are vital for our financial success. The goal is to get kids to college while the parent’s and children’s financial health and well-being remain intact. We must start planning today. This is a great book to read as soon as you have children. Add this with passive income planning, and you will build an unstoppable plan. A great read!

This link is to a physical product. The link above is to the digital book. Sorry. I get no credit for digital product links.

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