Americans are more burdened by student loan debt than ever before. The rising cost of college tuition has become more difficult to manage. As a result, a large majority of students rely on federal student loans and scholarships to help fund college expenses.
“In 2019, 69% of college students took out student loans (including both private and federal debt).” Americans currently owe over $1.64 trillion in student loan debt, spread out among about 45 million borrowers. That’s about $587 billion more than the total U.S. credit card debt.”
In the U.S., “student loan debt is now the second highest consumer debt category –– behind only mortgage debt –– and higher than both credit cards and auto loans.”
Start a blog and tackle student debt
College is more expensive than it has ever been with associated costs of college increasing year over year. So, it makes perfect sense for students to make plans to repay loans sooner than later. One way to pay for higher education (schooling beyond high school) is to start earning money while in college and get smarter about personal finance.
One way to earn money while enrolled at a university is to launch a blog. Blogging isn’t for everyone. But aspiring bloggers can become successful if they are willing to put in the time, work, and effort.
For example, Alexis Schroeder started a blog in 2013, Fitnancials.com, and paid her way through college, earning as much as $80,000 in 2018, according to Forbes. Using that money to pay off her student loans upon graduation, Schroeder graduated student debt free. Stories like hers are not uncommon. People start blogs for a variety of reasons which can include exploring a hobby or connecting with like-minded people.
Are you ready to start a blog with an intent to eventually pay off student debt? If so, eventually you’ll want to monetize it. Here’s a look at a few quick tips to help you get started on the path to becoming a successful blogger while you pursue higher learning.
1. Make money blogging
Starting a blog can turn into a profitable venture. Blogging in its most basic form is about content creation and driving engagement. Since most college students are already writing papers and reports for classes, there’s no reason why they couldn’t do the same with a blog focused on their passions. There are plenty of legitimate ways to make money with a website or blog, including affiliate marketing, paid advertisement, Google Adsense, and more. The important thing to remember is you need to develop a consistent presence and build an audience in order to monetize it properly.
2. Start small and plan for big success
Starting a blog is similar to exploring a career path. The goal upon graduating is to find a good job in a field you enjoy. While it might seem like a big task, the process of starting a blog is similar. It all comes down to focusing on a niche and providing value to an audience. It’s not easy, but new bloggers are finding success regularly.
3. Explore working for yourself
The concept of being your own boss is a coveted goal for many people. In the world of online marketing and blogging, that dream is often a reality. Becoming a blogger while in college is the perfect time to establish your expertise and personal brand. Starting a blog can be done at your own pace, between classes, a few nights per week, or during a commute on public transport.
4. Improve your skills and expertise
People enroll in college to increase their earning potential, improve their chances of landing a job, learn a valuable skill, and become a professional in an area of expertise. Yet, you don’t need to wait until graduation to start this process.
Instead, start developing a skill and sharing the process with others through your blog. When you become a blogger, you develop skills in online marketing, content marketing, and more. You may even decide to become a professional writer and start freelancing to assist others. This gives you an opportunity to make money in college and create a path for success before you graduate.
5. Make lasting connections
Connections are everything. For most students who attend reputable schools, the connections made during these times can last for a lifetime. However, the same connections (if not better), can be attained through blogging as well. Professionals are more connected than ever before, and the engagement process is much easier for those who have an online presence and social media followings. They are seen as influencers within a niche market. Blogging is a perfect way to develop priceless connections before you need them.
Cash-flow your degree
“Going into five-figure debt is no way to launch a career if you want … to have a shot at long-term wealth building,” Dave Ramsey explains. The good news is, you can graduate debt-free and forge a path to success early on. There are so many ways to cash-flow a degree and blogging is one of them. So if you’re feeling anxious about the best ways to pay for college without student loans, consider starting a blog.
Zac Johnson is an entrepreneur with more than 20 years of internet marketing experience and branding. Follow his blog at ZacJohnson.com.
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