How to avoid debt in college

It's not lost on anyone who lives in America that debt has huge ramifications. But that doesn't necessarily make it any easier to avoid. Here are a few tips to help your student stay out of debt in college:

Forego the credit card. Recent legislation banned anyone under 21 from having a credit card, without a cosigner or significant income. Regardless, the longer your student can put off using a credit card, the easier it will be to avoid debt. No one wants to pay off shower shoes they bought for dorm life 20 years down the road (although shower shoes are definitely a good idea). Stick with debit cards - that way your student won't be able to spend money he/she doesn't have, paying for it in interest for years to come.

Buy used. If you spanked your kids when they were young, chances are that consequence wasn't one they soon forgot. Brand spanking new items can carry just as unpleasant an outcome. If your student can delay the immediate gratification of buying the latest iPhone, camera or MP3 player, he/she can save up to 50% of the total cost by waiting a year or two. Even buying necessities used, like textbooks, dorm furniture and clothes, can make a huge difference in your student's bank account.

Be smart with the Smart phone. Your student's cell phone will likely be one of his/her most essential belongings. Shop around for the best plan, as well as the best phone. Having a dependable way to call, text and even check e-mail will be a top priority. Exceeding free minutes or texts can rack up the charges fast, so make sure the plan is reasonable and realistic.

Play the host or pay the most. Your student's social life will likely consist of going out to eat and drink regularly. However, choosing to stay in can save dollars. By buying groceries, cooking for several friends, and splitting the cost, your student can save both calories and money -- especially if the alternative is greasy bar food and expensive drinks. A six-pack of beer costs $8, which might only buy two beers at a bar.

Think staycation. Sure, a tropical beach or snow-powdery slopes sound like the perfect spring break for your student. But the expenses of travel, lodging, recreation, food and drink for one week of fun can drain the bank account dry. Encourage him/her to enjoy breaks on a budget. Staying on campus, going home (if it's close) or camping are great alternatives to pricey breaks.

Get a job. Of course, any income is better than no income. But if your student spends every penny earned, it doesn't matter. Setting aside a percentage of money from every paycheck will help your student learn discipline and build a cushion of savings.

Power through. By helping your student make his/her education a priority, you will likely save money. Summer classes, online classes and transfer credits often cost less than tuition costs at universities. Stretching a bachelor's degree to a five-year degree also stretches the wallet, so encourage your student to avoid it if possible.