Updated 06/2025
Entering the workforce today without postsecondary education remains challenging. According to the Georgetown University Center on Education and the Workforce, by 2031, 72% of all jobs will require postsecondary education and training beyond high school, with 42% necessitating at least a bachelor’s degree.
The cost of attending a four-year public or private university continues to be a significant concern. The average student loan debt per borrower is approximately $38,883, with bachelor’s degree graduates owing around $29,300, according to Ramsey Solutions. This substantial debt burden underscores the importance of exploring strategies to finance education without relying heavily on student loans.
How can you pay for college without loans? Here are some of the key ideas.
Apply for Scholarships
Scholarships are a valuable resource for funding your education, as they do not require repayment. According to the Education Data Initiative, over 1.8 million scholarships from private sources are awarded annually, contributing to more than $100 billion in grants and scholarships available each year. Despite this abundance, only about 11% of college students receive a scholarship.
A wide variety of scholarships are accessible to students across the United States, including those based on academic merit, athletic ability, community service, and personal background. Merit-based academic scholarships are among the most common.
Tips for a successful scholarship search
- Start early: Begin your scholarship search concurrently with your college applications to stay ahead of deadlines and competition.
- Be diligent: Allocate dedicated time each week to research and apply for scholarships, treating it as a part-time job.
- Monitor deadlines: Use calendars and reminders to keep track of application deadlines, ensuring you submit all materials on time.
- Use reputable sources: Rely on trusted scholarship websites and resources to avoid scams. The Federal Trade Commission provides guidance to help individuals avoid scholarship and financial aid scams.
Given the competitive nature of scholarships, it’s advisable to apply for as many as you qualify for to increase your chances of receiving financial assistance.
Seek Out Federal Aid
Completing the Free Application for Federal Student Aid (FAFSA) is a crucial step in securing financial support for college. While not mandatory in all states, including Arizona, it is highly recommended. FAFSA determines your eligibility for various types of aid, such as grants, scholarships, federal student loans, and work-study opportunities.
Key points about the FAFSA process
The FAFSA opens every year on October 1. Submitting your application early is beneficial, as some aid is awarded on a first-come, first-served basis. Federal, state, and institutional deadlines can differ. Verify specific deadlines with your prospective colleges’ financial aid offices. You must complete the FAFSA each academic year to remain eligible for aid.
There is no income cutoff to qualify for federal student aid. Factors such as family income, household size, and the number of family members attending college influence the amount awarded.
Neglecting to complete the FAFSA can result in missing out on substantial financial aid. For instance, in 2023, high school seniors left over $4 billion in Pell Grants unclaimed by not submitting the FAFSA. Combining federal aid with scholarships can significantly reduce or even eliminate the need for student loans, making higher education more affordable.
By proactively seeking scholarships and completing the FAFSA, you can effectively manage the financial aspects of your college education and minimize debt upon graduation.
Work While Earning a Degree
Working while attending college in 2025 remains a strategic approach to offset education costs and gain valuable experience for post-graduation life. Exploring various employment avenues—such as traditional jobs, alternative gigs, and work-study programs—can provide both financial support and practical skills.
Pursue a traditional job
Securing a part-time position with an employer offers a steady income stream during your studies. While roles in restaurants, retail, or fast food establishments are common, seeking employment related to your field of study can be particularly advantageous. For instance, journalism students might explore part-time opportunities at local news outlets, thereby gaining relevant experience alongside financial benefits.
Here are other ways you can work during school:
- Explore on-campus employment: Many universities offer part-time positions within various departments, often providing flexible schedules that accommodate academic commitments.
- Use university career resources: Institutions frequently have career development centers that assist students in finding part-time, on-campus jobs.
- Consider tutoring opportunities: Sharing your expertise with peers not only reinforces your own knowledge but also serves as a source of income.
- Try side hustles: Beyond traditional employment, alternative income streams can help finance your education. Leveraging personal skills or hobbies can lead to profitable ventures.
Sign up for a work-study program
Work-study programs, determined by your FAFSA application, provide part-time employment opportunities for eligible students. These positions are often related to your field of study, enabling you to earn money while gaining relevant experience and expanding your professional network.
Explore employer tuition reimbursement
Many employers offer tuition reimbursement programs to support employees pursuing higher education, particularly when the coursework aligns with the company’s industry. If you’re currently employed, inquire about such benefits; if not, consider seeking positions with organizations that provide these programs.
Notable companies offering tuition reimbursement:
- Amazon: Through its Career Choice program, Amazon covers up to 95% of tuition and fees for courses related to in-demand fields, available to employees after one year of service.
- Starbucks: The Starbucks College Achievement Plan offers full tuition coverage for online bachelor’s degrees through Arizona State University to employees working at least 20 hours per week.
- Chipotle: Both hourly and salaried employees are eligible for tuition reimbursement, with Chipotle contributing up to $5,250 annually toward education costs.
- FedEx: Employees can receive up to $5,250 annually to support their pursuit of a college degree or attendance at trade, vocational, or technical schools.
- Fidelity: After six months of full-time employment, Fidelity reimburses up to 90% of education-related costs, with a maximum of $10,000 per year, for work-related certifications or degree programs.
Get Your Degree With AZCCU’s Help
Engaging in part-time work, exploring alternative income sources, participating in work-study programs, and utilizing employer tuition reimbursement can collectively ease the financial burden of college education. Combining these strategies with scholarships and federal aid can further reduce the need for student loans, setting a solid foundation for your financial future.
Arizona Central Credit Union can help you complete your secondary education. Whether it’s tips to save on textbooks, how to budget in college, or what to know about filing taxes, our financial experts can help. If you have any questions, contact AZCCU online or call (866) 264-6421.
