She Strengthens

Accelerating My Degree: A Journey to Financial Freedom

Breaking Free from Student Loans

Last fall, I realized I was on the cusp of completing my undergraduate degree a year and a half ahead of schedule. But it wasn’t without its challenges. With $5,000 in student loans looming over me, I knew I had to take drastic measures to pay off my debt before graduation.

A Head Start

Fortunately, my parents had set up a savings account for me with $10,000 to cover college expenses. However, I was hesitant to use it, preferring to maintain my financial independence. Growing up in the suburbs, I had always prided myself on being self-sufficient, paying my own cell phone bill at 12 and taking the bus to work at 14. But I soon realized that footing a five-digit tuition bill was a different story altogether.

Cutting Costs

To save money, I decided to attend a state college, where tuition was around $5,000 per semester, plus an additional $5,000 for on-campus housing and a meal plan. I lucked out with a $2.5,000 scholarship, which required me to live on campus for my first year. I also transferred 12 credits from high school AP classes, giving me a head start on my coursework.

Finding Alternatives

During my first semester, I worked two 12-hour shifts on weekends, but soon realized that the work-hard, play-hard lifestyle was unsustainable. I needed to find alternative ways to pay for college without sacrificing my sleep schedule. I explored options like surrogacy, selling my eggs, and research studies, but ultimately decided against them.

Accelerating My Degree

Then, I discovered that full-time students at my college paid the same tuition regardless of credit hours. I used this knowledge to create my own schedule, fitting in more courses each semester and accelerating my degree. By taking general prerequisite courses at the local community college during the summer, I was able to save money and get ahead.

Paying Off My Loan

I picked up my work schedule again in the summer, taking on 70 hours per week (not recommended!) to pay off my lingering loans. I saved enough to pay for my final semester in cash upfront, which felt incredible. I nannied and waitressed throughout my final semester, starting a post-grad savings account.

Graduating Debt-Free

To my surprise, I walked the graduation stage two and a half years after starting college. I’ve learned that graduating debt-free and early is a rare achievement, often met with skepticism. But I’m proud of how I navigated college costs, using AP courses, community college, and part-time work to achieve my goal.

Lessons Learned

I’m grateful for my parents’ support, but I’m proud that I only dipped into their savings account when necessary. I’ve taken what I learned from my undergraduate experience and applied it to graduate school, saving $14,000 in eight months while budgeting aggressively. It’s not easy, but I know that my credit score, bank account, and resume will thank me in the long run.