How To Get A College Education Without Going Into Debt

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INDIANAPOLIS–You may want your kids (or even yourself) to get a college education, but not want all the debt that comes with it. That concern was foremost on the minds of Hoosiers in the annual survey by the Indiana-based non-profit INvestEd, a company that helps people plan for the financial part of education.

“People see the value in education and the importance of it,” said Bill Wozniak, INvestEd’s vice president of marketing, talking to Inside Indiana Business. “At the same time they’re concerned about the levels of student loan debt and they want help so that their kids and future groups are not gonna be in a bad position.”

He said families now expect companies and employers to offer help and resources to deal with financing college and the subsequent debt.

“The important thing these days is how to help people get retraining, additional training or help with the debt they currently have.”

Part of planning for paying for college could be the Income Share Agreement, which is being pioneered by Purdue University.

“The ISA is a way to pay for college in which the student says, I will pay with a portion of my future income,” said Wozniak.

He said people and families are primarily concerned, as indicated by the survey, with limiting the amount of debt and student loans before they send a student to college.