How to get your degree debt-free

Eighty percent of families make decisions about where their child will go to college based on money rather than academics, but there are some other ways to earn a degree debt-free.
2:41 | 11/26/19

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Transcript for How to get your degree debt-free
We have a look at the skyrocketing cost of college putting such a burden on so many students and families, some American universities could soon hit $100,000 a in tuition alone and Rebecca Jarvis is back with advice for families facing these bills. Hey, Rebecca. Reporter: It's become outrageously expensive to go to college and according to Sally may eight in ten families make decisions about where their child will go to college based on money rather than academics. How do you lower the price tag on that dream school? Reporter: This morning, the student debt crisis. $1.6 trillion in outstanding loans owed by more than 43 million Americans. Nearly 9 million in default. But expert and author in "The debt-free degree" says you can go to college debt-free. I personally recommend you use scholarships, grants, or even maybe you have assistance from your parents from parents using a 529 or educational savings account. Reporter: The average college student graduating with more than $30,000 of debt. There are many young people who have over a million dollars in student loans. I met several couples not having children because they're $400,000 just in student loan debt or the he says it's hard work but keep in mind -- Over a billion dollars worth of scholarships go to waste every single year. Reporter: His biggest piece of advice -- you. Need to sit down and actually do a budget. From there you choose a college within that bracket. Reporter: Take that time on the front end. It will pay off in the long term and one thing everyone should do is fill out the fafsa forms for federal student aid. First come first serve and start accepting applications in October and as for those scholarship, it's good to apply for the big well-known ones. Those are more competitive so look for the smaller local specific scholarships, apply for a number of those, George, your odds are so much better to get some of those smaller more local one. How do you find them. Talk to friends and family. This is an important thingment you can talk to your church, synagogue, in sports if you're playing sports talk to your coaches. A couple of great resources for people to check out, fastweb.com. Collegeboard.org and scholarship.com. These are all free places to go and look for scholarship and I cannot underline that enough. A scholarship should not cost you money. It does not cost money to apply for the legitimate scholarships. This is one I remember my family did. You can actually appeal a financial aid decision. I did the same thing, George. Yes, it's an important thing to do. Appeal, go in with an outside offer if you got an offer from another school show it to your dream school and they might

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