Paul Frink Berkshire Hathaway HomeServices Northwest Real Estate Alternative Ways to Fund a College Education The average student loan debt for a college graduate in 2016 was $37,172, according to Forbes. That’s a lot of debt to be saddled with when starting a career. However, you can help your children avoid student loan debt by looking into some alternatives: Save Early This takes years of forethought, but it can be one of the best ways to pay a large chunk of college expenses. Start contributing to a 529 college savings plan as soon as your child is born. Put in only $100 a month from birth and a high school graduate will have about $40,000—enough money to fund two years of going to a public college. If your child is working part-time or during the summer, they can also contribute to the fund. Payment Plans