College Debt And How To Stay Far, Far Away From It

posted by Paula Hendricks on 07/11/12 | Twitter: @PaulaWrites678
Category: The Future; ; 38 comments

college debtHey, girls! During summer break, college—and college debt—are probably the last things on your minds. Getting a tan, catching up on sleep, and painting your toenails are probably a lot more like it.

But I think it's that important that you start to think about it now. That's why I asked Wilson Green the following questions. Before you read his interview, I should introduce him.

I have the privilege of living with Wilson and his wife, Laura—while they're home, that is. Most of the year, they're traveling around the country teaching about marriage and family principles with Life Action Ministries. Enough introducing, though. Read on for some important thoughts about how to avoid college debt.

Do you know how much college debt most students graduate with these days?
I have read statistics from a lot of sources, but most of them say the average college debt is at least $25,000. When you combine that figure with the fact that many college students have $5,000–$7,000 in credit card debt, one can see the financial picture for most college students is not pretty.

You're quite passionate about college students graduating debt-free. Why is that?  
Some of the costly expenses of life happen in early adulthood: marriage, having and raising children, and the purchase of a house and car. Saddling a person with tens of thousands of dollars of college debt will bring disillusionment, despair, and the temptation toward further financial irresponsibility. When a Christian student is disobedient to God's principles in finance, it opens up many other areas for the enemy's attack. Obedience brings blessings; disobedience brings conflict.

Does God have anything to say about college debt? If so, what?
There is nothing said specifically about college debt, but there is much said about money and debt in general. The commands from God's Word are clear. We earn money by working hard at a job, we do not spend more than we have, we do not presume upon the future with our purchases, we are to give happily and generously and recognize that any resources we have are God's. He is the Owner; we are just the manager.

I've heard you say that college debt is the destruction of the family before it even begins. Can you explain what you mean?
When a man and woman marry and both have a lot of college debt, the seeds of destruction of the marriage are already in place. One of the top points of conflict in a marriage is money, and that is when both start the marriage debt-free. Add to that the increased burden of lots of college debt and the problems of an already sensitive area are exacerbated.

We were with a youth pastor and his wife in the South. They had recently graduated from a Christian college and were over $80,000 in debt. After they heard my counsel concerning college debt, they immediately began changing the way they lived. They returned furniture they had bought on credit. They began using cloth diapers for their baby instead of buying more expensive disposables. She began using coupons to buy groceries. In fact, this young lady began a blog just to share all the ways that the Lord had led them to get out of debt. When we begin to obey the Lord with our money, it is amazing how He blesses.

You have three adult children. Did they graduate college debt-free? If so, how?
My oldest son is the only one who has finished, but he only owes a little money to us (his parents), which I lent to him interest-free. Many ask how that can be done. In today's economy and exorbitant college costs, a multiple pronged approach is necessary:

  • Of course, it helps to begin to save early.
  • A family should investigate all possible grants and scholarships that may be available.
  • If parents are able, they may give or lend interest-free money to the student.
  • Many students work during their studies, which helps pay for all the costs incurred.
  • I also advise beginning one's education at a much cheaper community college.The student can always transfer those credits to the college of their choice later.
  • And finally don't succumb to "college choice pride." A student may be accepted to a more "prestigious" college or university, but that college is much more expensive.Better to attend the lesser expensive school and begin early adulthood and/or marriage debt-free.

What was your personal experience with college debt?
I went to college and grad school in the '70s, so education was much less expensive. But the principles are the same. With the Lord's grace and provision, I was able to finish debt free.
 
Anything else you'd like to add?
College debt just recently surpassed credit card debt. Former and present college students owe over one trillion dollars in unpaid college loans. Many economists say this may be the next "bubble" that may burst in the American economy much as the housing market did in 2008. Like much that is going on in America, this ballooning college debt can't continue. I implore all present and future college students to proceed carefully and biblically as they further their education.

So how about it? What can you do right now to begin to prepare for (or rather against!) college debt?

Comments

HEY, GIRLS! We love hearing from you, but feel limited in the ways we can help. For one thing, we’re not trained counselors. If you’re seeking counsel, we encourage you to talk to your pastor or a godly woman in your life as they’ll know more details and can provide you with ongoing accountability and help. Also, the following comments do not necessarily reflect the views of Revive Our Hearts. We reserve the right to remove comments which might be unhelpful, unsuitable, or inappropriate.

    Chey
    Wow Great Advice!
    on Wednesday, July 11, 2012 at 7:51 am
    Thank you so much for posting this. I have been looking at colleges even though I'm a younger teen. Sadly, my mind wasn't completely on track with God's will. I wasn't really open to the smaller universities; I wanted to go to Duke. After reading this my is switching gears. If I go to one of the smaller universities I probably won't rack up as much debt but still get an awesome education. I can live after college partly or completely debt free!

    Thank you so much for this post! :)
    May
    Re:
    on Wednesday, July 11, 2012 at 8:23 am
    This is really good advice. I'm now going to look around so when i guaduate i won't be in as much debt. As I pray i hope God will show me the right college to choose. Thanks for the advice in this post.
    Meg
    College Sticker Price Not Necessarily What You Would Pay
    on Wednesday, July 11, 2012 at 9:20 am
    Re Wilson's comment about "college choice pride": You would be surprised to know that once you get to the very best of the best colleges, that statement is no longertrue in the least. You could attend University of Virginia paying out-of-state tuition, and pay $50,000 a year, and all the financial aid, if you get any at all, will be in the form of loans. While UVA is a great school, you should be aware that your tuition is paying for thier new facilities that you will never use, and for teachers' assistants to teach all your classes so that your professors never have to actually deal with you. However, Davidson College in North Carolina, which has an even stronger academic background, has the same sticker price, but a much better endowment. Davidson admits students without considering their financial need, then pays 100% of the tuition that the student cannot afford without any loans. For a student from a lower-middle class background, she might pay less to attend there than she would to attend somewhere where she qualified for in-state tuition. Also, she would have much smaller and much better classes, taught by real professors instead of graduate students. There are many other schools with great financial aid programs, which could help to avoid debt, and they often cost much less than their less prestigious alternatives. Make sure to use a net price calculator on a college's website to figure out how much you would really have to pay rather than just assuming that an academically weaker school would cost less.
    Marissa
    It's a nice thought...
    on Wednesday, July 11, 2012 at 9:22 am
    This is really nice to read, but it's not exactly realistic. If you want to go to a college, especially a Christian college for ministry, you are most likely going to have debt unless your parents have saved for years, you are rich, or you get a ton of scholarships. I got quite a bit in aide and scholarships, almost 50% of my bill, and I am still in tons of debt. I was slightly offended by the fact that this makes it seem like you are not following God's will if you graduate from college in debt. I am not going to push aside what I feel like God has planned for me to do just because it is going to to put me in debt. I know he will provide a way for me to pay it back because I am doing what he wants me to do with my life. And for people not in college yet- a lot of credits from community colleges don't transfer to larger universities and you end up spending a lot more time in school and spending more money than you would have if you would have just gone to the big school in the first place and taken more credits each semester. I'm not trying to be mean or negative, but I don't feel like this gives an accurate view of what college students actually face today.
    RachelAllison
    Thanks! and Off Topic...
    on Wednesday, July 11, 2012 at 9:41 am
    Really good advice! I'm definitely striving to stay debt free as I near my college years! Thanks for sharing with us.

    On a different note, I have an off topic question. It's been bothered me all night and I've been praying about it a lot, and I'd like some words of wisdom in this area.

    I sat in on a Bible study yesterday evening with a bunch of girl's I know very well. The topic was prayer and I've been learning a ton about that lately. Needless to say, I had my fair share of thoughts to add to the conversation. The Bible study was about and hour long and by the end my one friend was giving me looks every time I opened my mouth. I was well aware that I was talking a lot (though I was sure to let the leader lead and give the other girls a chance to add), but it was a battle within myself trying to decide to speak up or stay quiet. And that's really my problem... it's not like I'm talking aimlessly and offering nothing to the conversation. But I still feel as though I'm being... and inconvenience? I've always hated how much I talk, but over the years I've learned to accept it as a part of the unique person that God has made me to be. If I was a quiet person, I doubt I would have the passion for writing that I do and the ministry of my blog would not be what it is. And through this past year and a half of suffering from illness the Lord has taught me so many things and I'm literally bursting at the seems with all that He is helping me to understand. And I cherish the opportunity to be an encouragement and a help to those who need it. But I struggle because I don't want to be the one leading the conversation... or more so, I don't want people thinking, "When will she ever shut up?" But what do I do? Because the things that I'm saying are important and encouraging and helpful in every day life and I don't know when I may have another opportunity to say such things to my friends. I feel like what I have to say is so important, and yet I feel like I already talk too much so I ought to just shut my mouth and not share. I can't figure it out... and perhaps this seems silly, but it feels like a burden on my shoulders and I don't know what to do. Even my responses and comments on here have a constant lengthiness to them and I always cringe a little inside each time I post one so long. I do my best to keep my words short and to the point, but I have so much to say... it hurts when people like my friend make comments about how long-winded I am... and perhaps I'm not supposed to be speaking up as I am? I'm just not sure...
    FroggerBlogger
    College!
    on Wednesday, July 11, 2012 at 9:46 am
    I am leaning towards attending a Christian college. I know that God is leading meninto the ministry. So when you say to attend a much cheaper university-I am not sure how that can apply to Christian colleges. Do you have any suggestions college wise for Christian colleges that I can look into? If you do that would be great!
    Kori
    It can be done!
    on Wednesday, July 11, 2012 at 10:05 am
    Thanks for this post! Just some encouragement for others out there -- graduating debt free can be done. I used a program called CollegePlus and graduated this year, debt free. CP is definitely outside the box and maybe not for everyone, but I was able to graduate in less than three years and get the preparation I believed God was calling me to get. God met my needs during my college journey, and it was exciting to see how He provided! For anyone who's interested, here's the CP website: http://www.collegeplus.org
    L Childs
    College
    on Wednesday, July 11, 2012 at 10:26 am
    I applauld the families that can help their children attend college debt free. For most of us, that is unrealistic. I too felt guilty after reading this article that my child has college debt. I too am in debt for her college. We made just above the Pell Grant qualifications and yet could not make the monthly payments of tuition. Fed Loans was the only way. Now, she has graduataed, with debt but has a job in her field. With God's help she will over come this debt. As for Christian Universities, we checked into that. Double or more the tuition. Sad but true and that is why alot more Christians do not choose a Christain Education.
    Blessings and Success to all...
    Lisa
    Christina
    I Agree
    on Wednesday, July 11, 2012 at 12:12 pm
    I agree with all of this! For me, I have a scholarship that I can use and found a Christian college i can go to with using that. It pays for all 4 years of college, and it's close enough to home that I can live at my house and not have to pay for room and board. So that's great! But, I do need to start saving up. I'm going to a Christian college for sure, but what if the plan I have isn't my plan? The plan I have for myself may not be God's plan for me. His plan is what I want for my life. The best I can do is pray that it all works out the way God wants it to. It always helps to start saving money now. If the plan I see now is the way it is suppose to be, then I have extra money to use on a wedding or house or car for when I get older.
    Rachel
    Good advice, but not necessarily realistic
    on Wednesday, July 11, 2012 at 12:13 pm
    This was an extremely interesting article, and had great points. Much wisdom needs to be had when deciding what college to attend, how much money to spend for the education, and whether it is appropriate to take out student loans. I appreciate that you were able to fund your oldest's education out of pocket, and that you graduated debt free in the 70's. According to Collegeboard, college tuition rates have increased 5.6% (inflation already factored in) a year. That means that an average family in the 70's (say making $60,000 a year in current dollars) would need to be making $480,000 today to make up for the increase (8x if you do the math) in college tuition increase. And if as a student, you wisely chose a major that will enable you to be a solid thinker and worker, make good and humble choices, then it is worth it to go into good debt for college. Without people willing to take the risk and take student loans out, there would be a massive shortage of doctors, lawyers, engineers, and teachers. And especially if the people not willing to go into school debt are christians! We need christians in these professional roles! So please rethink your sweeping statement of "all debt is bad debt." Perhaps your article should focus on calling churches and ministries to help fund scholarships for christians pursuing academic degrees.
    charisma
    college
    on Wednesday, July 11, 2012 at 12:19 pm
    this was very helpful to me coz i will be joining college next month. before graduation, i told my friends that i would be attending a junior college and go to school every day since the school is not far from my house but they were all telling me that i made the wrong choice to go to a junior college and my grades were good so i could have been accepted to the big universities but in my heart i knew i would save alot of money. what i believe is that the name of the school and it's popularity does not matter what matters is what u will leave the school with. Am happy that God has been my strength and has helped me make the best decision to make sure i don't leave college with big debts. Also, not living on campus will give me more time to work&save money and also to plan for my future.
    gracefulklutz
    To Frogger Blogger and Rachel Allison
    on Wednesday, July 11, 2012 at 1:10 pm
    Frogger Blogger: Pensacola Christian College is an extremely affordable Christian college, but they are also extremely strict. You could check it out; they are known for having good academics.

    Rachel Allison: If I remember correctly, you are the one who is always on here encouraging everyone else and providing biblical answers. I've enjoyed your comments, and having a lot to say can be a good thing, if you watch what you say. As far as the Bible study goes, most girls probably aren't as into it as you are, unfortunately. I would say to be careful and moderate your input if it's bothering people. Sometimes people mistakenly believe that someone who talks a lot is trying to show off their knowledge. Don't stop getting involved in the discussion though, and keep loving learning. Maybe you could talk to the Bible study leader about this dilemma.

    P.S. I'd love to know how to get to your blog. Mine is www.gracefullgirl.blogspot.com
    Cara31
    Re:
    on Wednesday, July 11, 2012 at 1:41 pm
    I would love to be able to go to uni (college) debt free, but i live in the UK which has a different system. I was wondering if u had any advice?
    just me
    Re:
    on Wednesday, July 11, 2012 at 2:03 pm
    hold it!! how much does college cost anyway?! maybe i should just give up... i'm already twenty and have just decided that i want to become a musician...! I have work but its not more than minimum wage....i'm really discouraged...i don't know what to do...
    Vic
    Re: RachelAllison
    on Wednesday, July 11, 2012 at 3:42 pm
    I know that feeling. I have thought those same thoughts many times!!
    Aubry
    College Plus
    on Wednesday, July 11, 2012 at 3:46 pm
    Thought I'd just throw this out there, I'm doing this thing called College Plus where you just test out of most of your classes, some you take at a college near you, and some you can take online. The whole degree is somewhere between $14,000-$16,000 and it takes 2-3 years depending on how fast you want to go. You have a coach that helps you study for the tests (CLEP tests, easier when compared to AP, and you don't have to take a class). They only offer bachelors degrees for the most part, but a lot of people have gone on to graduate school at a really young age because it's impressive that they already have a degree. Your diploma actually comes from a legit college because at the end of the whole thing, you just transfer your credits to the college and then graduate from them. It's really awesome, and a really good fit if you're planning on staying home or working a lot anyways. You can get more information at collegeplus.org!
    Sarah
    amen, marissa!
    on Wednesday, July 11, 2012 at 4:10 pm
    While I'm very grateful for this post and how it brings to attention the fact that we should be careful about debt and money, I have to agree with Marissa on this issue. I feel that instead of scrambling to pay as little as possible, I want to trust God in every choice I make (whether related to college or not). If that means He wants me to attend a more expensive school, I will just place my faith in Him. There are, of course, certain ways you can save money, but it all depends on the girl and her special circumstances. Thank you for bringing this topic to my attention though. I appreciate it :)
    Diane
    I know 5 who did it ... here's the book
    on Wednesday, July 11, 2012 at 11:00 pm
    In our family, both my daughters took out loans for some, not all, of the cost of their degrees. But a friend has three children who graduated debt-free, as did their two cousins. I appreciated learning their story in more detail in Debt-Free College: We Did It, by Lynn Lusby Pratt. Here it is on amazon.com:
    http://www.amazon.com/Debt-Free-College-We-Lusby-Pratt/dp/1591605628/ref=sr_1_1?s=books&ie=UTF8&qid=1342061179&sr=1-1&keywords=DEbt+Free+college%3A+We+Did+It. Might encourage those who want to try this that it CAN be done. Blessings!
    tealandblue
    Re:Frogger Blogger
    on Wednesday, July 11, 2012 at 11:15 pm
    You might consider checking out West Coast Baptist College. They've got a Bible certificate program that can be done online. (It's called "One Year Bible.") Here's the link: http://westcoastonline.net/

    It's a great way to take some Bible classes without having to pay for room and board.
    Sarah, with the LYWB team
    @FroggerBlogger...
    on Thursday, July 12, 2012 at 12:00 am
    Check out Moody Bible Institute in Chicago along with the other suggestions!
    Sarah, with the LYWB team
    @Cara31...
    on Thursday, July 12, 2012 at 12:07 am
    So nice to hear from you in the UK, Cara. I'm sorry that we don't have any information about the uni (college) system in the UK so that we can offer advice. But this I do know...we know the One who knows all things and gives wisdom generously (James 1:5). I have taken time tonight to pray for you and ask God to lead you to someone in your country who can help you.

    "Don't worry about anything; instead, pray about everything. Tell God what you need, and thank Him for all He has done. If you do this, you will experience God's peace, which is far more wonderful than the human mind can understand. His peace will guard your hearts and minds as you live in Christ Jesus." Phil. 4:6-7

    God bless you, Cara31!
    Emma
    What Collage?
    on Thursday, July 12, 2012 at 12:28 am
    Hey!! So I have a question, what collages in the DFW area would you suggest? I was thinking of Dallas Baptist University (DBU) but just wondering if you had anything to suggest. P.S. I am a non denominational christian. :)
    jenn
    thank the Lord
    on Thursday, July 12, 2012 at 6:28 am
    Thank God that Australia has a different set up called the Hex dept- where the government pays for uni, and once we earn a certain amount of money, it comes out in our tax..
    (clears throat)
    Re:
    on Thursday, July 12, 2012 at 1:29 pm
    I would LOVE for this to be true. And yes, I understand that for some people it is. Those of you who have mentioned success stories, and Mr. Green, congratulations! All that is very well. But I would argue that it isn't necessarily...realistic. Especially the way the author made it sound, that ANYONE can be debt free, if they only try hard enough, or make the right choices, etc. And those who aren't debt free, well they obviously didn't pray hard enough or made poor financial choices, or didn't apply for scholarships, or just didn't TRY. Because that isn't true. I agree completely that debt is bad, that it is a good thing to avoid. But for some, who just CAN"T avoid debt for college, maybe those below the poverty line, or those who aren't, but their family can't afford to even loan them any money, those who have many siblings, and maybe a sibling who has to go to college at the same time, they have to make the choice, with prayer and much though, of either going into debt, or not going to college. At that point, maybe they choose that going to college, and getting a Higher paying job in the future, that requires a college degree, is worth the debt. I agree that you should be, that God tells you to be a good steward with what he has given you, your money, and to do your utmost not to live in debt, and to pay it back as soon as possible. But maybe we also need to be a good steward of our talents, which might mean going to college, and consequently, going out on a limb.
    Lorree, with the LYWB team
    Just me
    on Thursday, July 12, 2012 at 1:59 pm
    Hey! Great question! College is not cheap. Many can be $14,000 a year or more. That’s why it is vital you know what you are getting into before you get too deep. I don’t think you should give up, friend! There is nothing wrong with education at all. Be sure and talk this over with your parents and get their input.

    Our kids were able to go to college and graduate without debt. They attended a local college in our area for the first two years. Then they took the rest of their schooling on line, graduating with a bachelor’s degree. They received scholarships and grants (don’t have to be paid back), lived at home and worked a part time job to cover their costs while going to school full time.

    Keep your options open, just me. There are ways to obtain higher education without drowning in debt!
    Brittany
    College
    on Thursday, July 12, 2012 at 2:23 pm
    Ugh, that's what I worried about before I even started college. I already owe close to 7 or 8,0000 just from 4 semesters. I still plenty to go. I'm starting to question whether it's meant to be or not, especially with everything that's going on. Thanks for the post! It's very informative and helpful.
    Megan
    Cara31
    on Thursday, July 12, 2012 at 5:14 pm
    Hey Cara31! I live in England and am off to uni in a year (I applied for deferral.) The UK system makes it much more difficult to graduate debt free as at least £27 000 of the £45 000 that most students end up with in debt must be taken out on loan. For me (and all my friends with 1 exception) it's not going to be possible to graduate debt free. Unless you apply for a course that is funded by the government (e.g. speech and language therapy or art foundation) it's not really possible- sorry! :) However, the principles here still apply- be careful with how you spend your money- spending half your termly student allowance in freshers' week on partying and joining societies is not a good idea- save money and try and start doing this early. Don't waste money unnecessarily! Also, if you live in Wales/ Scotland, uni is cheaper :) God luck!
    Cara31
    Megan
    on Friday, July 13, 2012 at 1:47 pm
    Thank you! Yeah i didnt figur there was much of a way around it, but ill do what i can. :)
    Debt Free Teen
    Agreed!
    on Friday, July 13, 2012 at 11:49 pm
    I'm totally on board. I'm attempting to make it through college without any debt. My parents are only contributing a small amount and I'm going to community college. It can be done!
    Kristy
    Another angle
    on Sunday, July 15, 2012 at 3:07 pm
    After reading the blog and some of the comments, I need to share my history on college debt. I felt called to go to a Christian college, and college loans (along with working nearly full-time during the school year and two jobs in the summer) were the only way to make that happen. Graduation requirements in my major were changing while I was a student and if I'd taken off a year--or even just one term--to work full-time and save money, I'd have basically had to start over. At times I felt guilty, like if I'd had more faith or been a better Christian I wouldn't have had to take out loans, but then someone pointed out that maybe the loans WERE the way God had provided for me to attend that college. Yes, I'd have had a hard time paying those off if I'd married and had children right after college. But guess what? That WASN'T God's plan. I didn't marry until after I'd turned thirty, but within five years of work within my chosen field I had completely paid off my college debt and was able to enter into marriage debt-free. Had I determined to stay debt-free from the beginning, I probably would've gotten no education at all and spent over a decade working in retail or fast food, which are NOT my calling, before I would've married.

    It all depends on what God is calling you to do, and the paths He opens up for you.
    Lily
    Re:
    on Tuesday, July 17, 2012 at 1:38 pm
    WOW! Great word. Thanks so much for posting this!:]
    Katrina
    Tormented
    on Wednesday, July 18, 2012 at 12:05 am
    I came to this site because I am trying so hard to figure out if I am doing the right thing. My husband and I are trying to get us out of debt. I am 44 years old and I truly believe that God has called me to women's ministry. I've known this for years. I surrendered to this publicly and I wanted to further my education so as to understand and lead better as a counselor/leader in this field. I also want to get a masters in hopes that just having a higher degree will open up better opportunities because my bachelor's degree isn't cutting it. So, I want to go back to college and I have already enrolled. However, I can't pay for it now. I have qualified for and accepted a loan arrangement. I have enrolled and purchased my books...and now I am second guessing because I don't want to add debt when we are trying to get out of it. But in doing so, I will open the door for a better job. This is driving me crazy. I'm not a spring chicken so putting off my education really isn't an option. Either I do it now or I don't do it at all. Somebody help me think through this!!!!!
    Sarah, with the LYWB team
    @Emma...
    on Thursday, July 19, 2012 at 2:23 pm
    Dallas Baptist is a great school! For sure, check it out!

    If you want to see a list and cost comparison of Texas schools, go to www.collegeforalltexans.com. You can click on "College Locator--Find colleges in your area" and get the facts!
    Last Edit: on Thursday, July 19, 2012 at 2:30pm by skrause  
    Lorree, with the LYWB team
    Katrina
    on Thursday, July 19, 2012 at 4:44 pm
    I encourage you to speak openly with your husband about your heart’s desires. You both need to be on the same page with this since you are trying to get out of debt. Going further into debt is not trying to get out of debt. With the economy the way it is right now, even having a master’s degree is not a guarantee that you will be able to secure a job. Take time to discuss this with your husband and then pray through it together as a couple to seek God’s direction.

    A couple of ideas came to mind as I was praying for you today. Could you take just one or two classes rather than a full load? Could you only take as many classes as you can pay for up front? Taking just a few classes would enable you to work part-time and continue to pay down your debt.

    Are there areas in the women’s ministry in your church that you could serve or volunteer while you are waiting to finish your education? The experience you could gain there would look very good on your resume and I’m sure the leadership in your church would love to have the extra help.

    If God has led you in the desire to get out of debt, He has a way for you to go forward without incurring more debt. Don’t jump into this without much prayer, and counsel with your husband, Katrina. God will faithfully lead you in the way you should go (Is. 30:21).
    Jennifer
    Katrina
    on Friday, July 20, 2012 at 11:05 am
    Okay, it feels weird to be writing this because I'm still in my teens and definitely not close to 44 (no offense). But as far as the ministry goes, In my area (Nampa ID) some places my family and I are looking into volunteering at is our Crisis Pregnancy Center and the couple of local rescue missions we have. I thought I'd just mention this...
    RachelAllison
    @gracefulklutz
    on Sunday, July 22, 2012 at 4:09 pm
    Thank you so much for your encouraging words. I apologize that it has taken me this long to respond. my blog is aheartformyshepherd.1in1000.org.

    :)
    Anonymous
    Finding Balance
    on Friday, July 27, 2012 at 4:35 pm
    While I completely agree that consumer debt is bad and should be completely avoided (with the exception of a very careful and prayerful choice in regards to transportation), I think it is fair to look at an education as an investment in much the same way as you would look at purchasing a property. Someone can purchase a home for $100,000 and pay $640 a month in mortgage (taxes & insurance included) or not go $100,000 into debt and pay $640 a month in rent. If you look at the 30 year math, going $100,000 into debt makes sense. In 30 years you will have paid a total of $188,000 (the rest is taxes and insurance) for that home versus the $230,000 you would pay in rent. Plus, after 30 years you have a property you 100% own and in theory have $100,000+ "in the bank" of course, when you sell the property. Plus, you are not spending that $640 a month anymore because you own your own home. SO that debt was good.

    Now let's look at an education. To make this easy I am not going to take out taxes but just use the whole amount. If you don't go to college and just work, making $10 an hour, by the time you are 30 you will have earned $250,000. If you go to college, graduate at 22 (working part-time at $10 an hour while in college), graduate with $50K in debt and from age 22-30 make $45,000 a year (because of your degree), by the time you are 30 you will have made a grand total of $401,600 minus the $50K in debt will leave you with over $350,000, which is $100,000 ahead of not taking out debt for college. I would say the $50K was good debt.

    I think it is very unfair to say that all college debt is bad and sinful (as applied in the article). I think if someone is going into ministry or a position where they won't be making much money, then having huge debt is bad. If not taking out a loan keeps someone from finishing their education, I think that is as foolish as spending 30 years renting and not owning a home, which is an investment.

    I think Romans 14 can be applied here. Saying that all college debt is sinful or people going into college debt is sinful is wrong. It is a grey area that scripture doesn't directly address. If someone prayerfully considers their education, feels led to take out a loan, pays it back on time, they can stand "clean" before God. I don't see what is wrong with that considering the math above.
    Becky
    Re:
    on Monday, September 17, 2012 at 3:24 am
    This is my fourth year of post-secondary studies and it definately won't be my last! I've taken out student loans, and over the last few years I've taught myself to be frugal-ish. I'm more restrictive of how I spend my student loan money so I can put it in the pot for a later date. I don't have a job because I felt if I had one, I wouldn't be able to give school my all, so this is why being frugal is so important. The following is what I've learned:
    -I've been living at home during the summer to save on rent. I've lived in basement apartments the past couple of years because they're cheaper. Also, try to find a place with heat, lights, internet, etc. included if you're renting (this deal might be hard to find, but sososo very worth it).
    -People have given me their old, gently used clothes the past 3 years. What I don't get from others, I get from a second hand clothing store. I've probably only spent about $500 maximum on clothes the past 3 years by doing that.
    -If I need things for my apartment, I generally go to places like Dollarama for the smaller things. The rest of my stuff I usually get from friends or family. Other than the second hand TV I exchanged for a Swiss Chalet meal.
    -I'm also not afraid to go to the foodbank or the soup kitchen if I can't really afford groceries. Eating in is usually cheaper too, though I'm not ready to give up my weekly fast food binge as of yet. Hit up the food sales! And some grocery stores have a discount for students. For instance in my area, Tuesday is 10% off day for those who flash their student ID.
    -I haven't bought a car yet...my student fees cover my bus pass and carpooling to church costs me only about $5 a week.
    -I recommend going on Kijji (I live in Canada so I'm not sure if the States has that... it's the equivalent of Craigslist) for free stuff. I got my bookshelf from there. You can also get textbooks from there for a lot cheaper.
    - For presents, I recycle the comic section from the paper. And for Christmas I try to make presents instead of buying them.
    -I have to pay for my laundry in my apartment which is kind of a downer. But I have a friend in residence who can do her laundry for free, so I usually take a load a week to her place and do it there, or I do it when I go to my parents' place. If I have to do it at home, I just hang everything up to dry. I'm thinking about getting a washboard.
    -Just say no to cable/satellite if it's not included in your rent/residence. It's a win/win all around.
    -To save on just about everything, Pinterest has some pretty neat DIY ideas for your home. Like how to make bottles and jars into drinking glasses, homemade stain remover, homemade house cleaner, cheap ways to fix things...anything you can think of is basically on that site (but you probably knew that already).
    Every cent adds up!
    :)

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