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Avoiding student loan debt while saving money in college

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Posted at 5:20 AM, Apr 07, 2022
and last updated 2022-04-12 07:38:58-04

TAMPA, Fla. — April is national financial literacy month. It's an opportunity for people to develop a stronger understanding of basic financial concepts like saving, investing, and paying off debt.

A study by Ramsey Solutions found nearly four out of every five U.S. workers live paycheck to paycheck.

A major contributor to young people not having financial flexibility is student loan debt. Kristina Ellis is a best-selling author who has helped thousands of students earn a debt-free education. She told ABC Action News that many students assume they must take out student loans, but she’s really trying to push them in a different direction.

“I want students to get creative and look at what options they have, maybe it’s scholarships, maybe community college first then transferring, maybe a job that has incredible tuition benefit programs that will pay for your education, there are so many different ways to get a debt-free degree you just have to dig for it and find your best strategy,” said Ellis.

For more information on student loan debt and how to save in college, you can find articles Ellis has written on the topic here.