Post: #1

I will finish college at the end of the year aged 23 with two degrees. In the five years that I’ve been studying I’ve independently funded 3 international trips across Australia, Asia and Europe. My student loan debt will be about $10,000 and could have been zero had I not traveled. I’ll share how I’ve managed to achieve this, not all of the ideas will be groundbreaking but hopefully this will provide some value to guys who are trying to find solutions.

1. I sell lecture notes. Make or get access to high quality notes which you can sell online. This is essentially a form of passive income for me as I receive payment through paypal and then send an automated email with notes attached to the buyer. The courses barely change and at the beginning of the semester and during exam periods I clear hundreds of dollars per week without raising a finger and have made thousands in the past couple of years.

2. My school has a strong academic reputation but I am able to leverage this by taking courses at another institution online during summer school. The fees are cheaper for these courses and I can transfer them to my university. As they are online and in a summer compressed format I can work at them more efficiently than usual semester courses. This lightens my workload during the normal semester which has both improved my social experience as well as allowed me more time to do things which have improved my CV.

3. Apply for scholarships like crazy. Many scholarships go unclaimed and often the conditions attached are loosely enforced. I have received scholarships related to subjects that I have never studied and for struggling financially when arguably I don’t. This has been without any dishonesty.

4. I am not eligible for any free governmental support as in Europe however may receive money for living costs which I must pay back. As the interest rate on the student loan is lower than the bank rate on term deposits I have maxed out my student loan and kept this money in the bank. When I say above that my debt will be $10,000, in fact the balance will be $50,000 but I will have $40,000 in the bank when I finish. This earns me a nice interest return and there is no interest on the student debt unless I move overseas. I am likely moving overseas at the end of the year so will probably pay it off. If I was going to stay here I would likely put the $40,000 down as a deposit on a rental property.

5. The reason I was able to put aside this money was because for most of my college experience I lived at my parent's home. Obviously this is not ideal and I have probably missed some of college life. However I did spend one year in a student flat and will finish my studies on exchange in Europe, before which I will travel around Eastern Europe and the Balkans for two months. With these experiences plus my other travelling, I think I have made up for what I might have missed out on. Additionally, with game and a strong social circle you can overcome a lot of the drawbacks associated with staying at home.

Obviously not all that I have written will be applicable to everyone. I am not American and my fees were around $10,000 each year. I also worked in the summers and during the academic year part time to help pay for these, making professional connections and gaining valuable experience. For Americans I would recommend spending time in Community College then transferring to a state flagship, or do all you can to get in a program with generous financial aid. I am aware of the importance of your school having a strong reputation but this prestige factor is much more important in some careers than others. When I hear about small liberal arts schools charging $50,000 per year, I really wonder how many people that will be a good option for. The online courses transfer might be an option for you guys too.

Finally, with scholarships, job offers and opportunities, it has been my experience that once you get a run going it becomes easier to achieve more and more and one thing leads into another. Success begets success. In my senior year of high school I was nearly expelled which would have altered my future drastically but it made me much more focused and determined to succeed. This was from a school where less than 10% of its students go on to finish a university education. With the knowledge I have now I think that looking back I should have studied less in order to be out and earning real money quicker however I am happy to say that my decisions have not trapped me financially.

Post: #2

(04-14-2014 06:13 AM)draguer Wrote:  For Americans I would recommend spending time in Community College then transferring to a state flagship, or do all you can to get in a program with generous financial aid. I am aware of the importance of your school having a strong reputation but this prestige factor is much more important in some careers than others.

This is a good point. Studies have shown that freshman and sophomores learn very little at a college/university. Many will whine about missing the social experience. There is a wild feeling when you are a freshman on a campus for the first time - freedom, new people, etc.

But it seems like a hard way to spend 50K a year to have that experience. You could have some pretty awesome experiences with 50K.

Post: #3

This is relevant to my current interests.

Post: #4

Which website do you use to sell lecture notes?

PS - Will you be practising law in NZ?

Post: #5

Hank I'll PM you

Post: #6

I sold assignments, quizzes and exams. I used to always do it in person though. Basically meet up with the guy tell him to bring a laptop and transfer it, or give them a photocopy. Doing it online seems so much better. It's been a few years, though. Can you let me know how you go about selling them online?

Post: #7

Use online auction houses then email pdf or word files. They have payment mechanisms set up so people can pay with VISA/Mastercard and the money is deposited to your account.

Or you could create your own website (which I haven't done). I'm satisfied with the sales I make and think its unlikely that selling them on my own would boost sales enough to justify the extra effort. Someone in my country has already tried it and from what I can see it's been a failure.

Post: #8

thanks for this

Post: #9

i should definitely apply to scholarships, i think most students simply don't do that

Post: #10

I saved a bunch of cash by testing out of some courses. You can take things called CLEP exams that cost around 100 bucks. If you pass them most universities will accept them as credits. If I recall you can do this for up to 12 credits which could be 8 to 10 grand in savings

Post: #11

(04-16-2014 03:41 PM)cheerfulwish Wrote:  I saved a bunch of cash by testing out of some courses. You can take things called CLEP exams that cost around 100 bucks. If you pass them most universities will accept them as credits. If I recall you can do this for up to 12 credits which could be 8 to 10 grand in savings

Yep I did this for a few courses - even Chemistry - when I was blue pill prepping for med school to provide for my sweet sweet wife at the time. Saved $$$. Why don't kids do this? Because (1) they're stupid and think free loan money, and (2) nobody tells them about it because colleges lose money when they do it

Post: #12

Aren't we lucky to be fortunate

Post: #13

(04-15-2014 06:52 PM)draguer Wrote:  Use online auction houses ...

Do they serve everyone? I'm in Canada. Any particular one you would recommend to get started with?

Post: #14

The stigma associated with attending a community college isn't worth the money that you will save. This could cost you dearly in the long run. [Not trying to be offensive, just giving honest feedback here]

Post: #15

I have other adults looking at me with a side-eye because I am tell kids to go the community college/state-flagship route. I have personally studied and reviewed the 2+2 route to a college degree and it is the best as far as economical. Community colleges have made GREAT strides in making the first 2 years of college the same as universities.

Post: #16

Can I get the website too? I can't believe I never thought of selling lecture notes! SMH!


Edit: If you can avoid going to a community college, avoid it. I have a long detailed post about it but I'm considering making it into a thread.

Post: #17

I sell them on a NZ site which wouldn't be relevant for you guys. What about eBay? Or do you have a more popular site in Canada.

Yeah the community college route won't be for everyone (I personally haven't - there are only 8 universities in my entire country), but is worth considering.