The average college graduate now comes out of school with about $20,000 in student loan debt, according to the College Board.

However, there are lots of ways to pay for higher education expenses without taking out a ton of student loans.

Alternatives to Student Loans

If you're working, start by asking whether your employer has a tuition assistance plan. Many will pay your tuition bill directly, or reimburse you for classes taken.

If not, begin aggressively seeking out scholarships for which you may qualify - based on everything from your gender and ethnic background to your major and certain hobbies you have.


Consult a good online database, such as http://www.FastWeb.com, which lists thousands of scholarships. Be persistent in finding grants too. Like scholarships, they don't have to be repaid. Find grants via a specific department at the college you are considering, like the Business School or the Science Department.

Also, the financial aid officer at any school you're considering can tell you about Work Study opportunities to pay for college. Work study programs - where you work, say, in the library or the computer lab and get paid or receive a discount on tuition - help minimize your school fees or the money you spend on room and board.

Lastly, you could seek out paid internships to help you foot your college bills. In years past, students interned without pay, just to get valuable work experience and make connections.

Today, with the high price tag of a college education, you don't have the luxury of working free of charge. So seek out paid internships in your industry where you get a decent paycheck, along with work experience and access to professional colleagues and mentors.

By focusing on these five areas - scholarships, grants, paid internships, work study programs, and your own resources (either from savings or from an employer), you'll be able to obtain a college degree without the burden of student loan debt.

For more advice about managing student loans and paying them off fast, check out my book Zero Debt for College Grads: From Student Loans to Financial Freedom. By the time I finished graduate school at the University of Southern California, I had $40,000 in student loans. So I know from first-hand experience what it's like to have college debt -- and what it takes to pay them off.

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Lynnette Khalfani-Cox, an award-winning financial news journalist and former Wall Street Journal reporter for CNBC, has also been featured in top newspapers including the Washington Post, USA Today, and the New York Times, as well as magazines ranging from Essence and Redbook to Black Enterprise and Smart Money. Check out her New York Times bestseller, 'Zero Debt: The Ultimate Guide to Financial Freedom.'