As a recent graduate of the University of California, Santa Barbara, I know firsthand the financial difficulties a college education can create. I don’t think I would have been able to finance my education without the help of my parents and it amazes me when I hear about kids who manage to put themselves through college.
Personal finance author Zac Bissonnette of AOL Money & Finance has done just that. A senior at the University of Massachusetts, Bissonnette has put himself through college without taking out loans, getting help from his parents, or being awarded scholarships. In his book, Debt-Free U, Bissonnette explains how he pulled off this incredible feat and demolishes the conventional truths surrounding the financial realities of college.
Debt-Free U is a candid exposé of all financial aspects and stigmas associated with college. While this book is beyond useful to anyone who is going to college or sending their kid to college, what makes it truly unique is it’s readability. Bissonnette’s conversational writing style makes the book easy to read and his humor will make you laugh so hard you cry.
The book exposes FAFSA for what it really is (an inaccurate evaluation of how much parents should contribute to their child’s education), explains how scholarships are completely “overrated,” and then goes on to clearly and unarguably lay out how you can pay for college without loans, scholarships, or pulling money out of your savings. This information is GOLDEN!
“…for families who can find fifteen dollars per week in cost cuts…and students who are willing to work hard-thirty hours per week, on average, including vacations—college is affordable: without any savings, student loans, Parent PLUS loans, retirement looting, organ sales, or heroin dealing.”
Bissonnette reveals that taking out student loans will financially set you back for years, proving that if you want to be somewhat financially stable after college, you shouldn’t take out student loans.
“The average graduate will spend about $200 per month on student loan debt for twenty years before she’s finally free.”
Bissonnette also convinces readers of the unconventional but honest truths that:
- It actually doesn’t matter where you go to college, what matters is the effort you put in to succeed
- Public colleges give you a higher return on investment than private universities
- Community college is truly the smartest way to start your college career and that the stigma behind attending community college is complete nonsense
- It is perfectly possible to work while in college without having affect your grades AND it makes you look awesome to prospective employers
The book also reveals some key things to remember in terms of protecting your money when it comes down to expenses you will encounter in college and why investing in college real estate is an ingenious idea.
“…of all the real estate investment opportunities out there, student housing is one of the best, offering low risk and the potential for a strong upside.”
The only thing I disagree with in this book is that it shouldn’t be read by people with the financial resources to send their child anywhere or parents with students who are pretty much guaranteed a full ride to the college of their choice. Simply put, Debt-Free U is a must read for anyone who is going to college, in college, or sending their child to college.
My Grade: A+
Debt-Free U goes on sale on August 31st and is available for pre-order at Amazon.com.
