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Paying for trade school or college without going into debt can feel like an impossible task. But there might be ways to meet these obligations without leveraging your financial future. Join us as we answer questions such as:


  • Are student loans bad/unbiblical?
    • Loans, including student loans, are neither bad or good. The better question is are they wise or unwise?
    • Borrowing puts you into a position of obligation to that individual or institution.  It will control your income/expense stream.
    • Bring in many factors into consideration like:
      • How much you are going to borrow?
      • For what time frame?
      • What is the interest rate?
      • Does your budget allow this payback expense in it?
      • Will your future income be sufficient to warrant/justify this expense?


  • Is it ever okay (or wise) to take out a student loan for college/trade school?
    • There are some occasions where taking out a student loan may be okay.
      • If you are considering student loans, your debt MUST make economic sense!
      • Seriously though, student loan debt should be the LAST form of funding


  • Should I co-sign a loan for my child to go to college/trade school? What if there’s seemingly no choice?
    • Yes and No
      • YES: If you have the means to cover the full expense if they default.
      • NO: If you do not have the means to cover the expense.
    • Remember, cosigning will always put your financial future at risk.


  • How can one go to college/trade school with minimal or no cost at graduation?


  • When should I start saving for college/trade school?
    • As soon as possible.


  • What savings plan exist for education expenses? (Listen to episode for a fuller description of each plan)
    • 529 Plans
    • Coverdale


  • How much money could i save by saving vs. borrowing?


  • Are there different kinds of student loans?
    • Federal (subsidized and unsubsidized)
    • Private loans
    • Different kinds of loans offer different benefits and drawbacks. Be sure to do your research before taking out a loan.


  • Is refinancing my student loans a good idea?
    • Yes and No
      • If you refinance federal loans, you will lose the beneftis of federal loans.
      • You generally need a credit score of 690+ to refinance.
      • Check the interest rates.
      • Talk to a professional before making this decision.


  • What are your thoughts about going to a state school, community college, or private college/university?
    • Different kinds of schools have their own benefits and drawbacks.
      • State schools and community colleges are generally less expensive than large private schools.
      • Larger private schools typically have more specialized degrees.
    • Consider taking your general education requirements at a cheaper school.
    • Know the cost and value of the degree you want.


  • Can commuting help cut expenses?
    • Yes! Room and board are often a large part of your college expenses. By commuting, or even by choosing to live in an off-campus apartment, you could save a lot of money.



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The topics discussed in this podcast are for general information only and are not intended to provide specific investment advice or recommendations.  Investing and investment strategies involve risk including the potential loss of principal. Past performance is not a guarantee of future results.

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