You've already received good advice, but I'll add a story:
I had a good friend in college who had a similar "wake up" moment like you . . . but his occured late in his sophomore year. He had taken out loans -- not massive loans, but enough that they were going to affect his future, and he realized he'd made a mistake. That summer -- between our sophomore and junior year -- he got two jobs. His first was driving a bread truck and stocking grocery store shelves. His second was working the night shift at a convenience /gas store. In previous summers he'd worked part-time as a lifeguard, allowing plenty of time for sleeping late, then sitting around watching girls in bikinis. He claimed that summer he never saw the sun; he just worked and worked hard. But when the summer was gone, he no longer had student loans. Back to school in the fall, he stayed in the dorms instead of moving to an apartment as he'd planned, he started working part-time during the school year, started being careful about his spending -- and he found that he didn't need to borrow. Nothing but respect for his choices!
As for you, you're already in the college where you're going to stay for your senior year, so finding less expensive tuition options isn't realistic, but be sure you're spending as little as possible for your housing and food -- those choices will still exist. If you can't avoid borrowing, at least make it the very least amount you can borrow.
A couple other things you can do NOW to prepare yourself for the 2-3 years that you're going to essentially work to give your money away:
- The job-hunting world can be brutal these days. Keep your eyes open for on-campus workshops about resume writing, interview skills, etc. They're probably free. Attend all job fairs offered by your college. Do not wait 'til the last minute to begin these tasks.
- How will you be expected to dress for your job? Start perusing consignment shops and clearance tables now in search of professional clothing you could wear in your first couple years of employment. You cannot expect to walk in and find a whole professional wardrobe in an afternoon -- not at sale or used prices. So start collecting inexpensive items now . . . so that the week before your first day on the job, you won't find yourself staring at a closet full of holey jeans and hoodies.
- Are you working now during college? If not, why?
- Living at home with your parents after graduation will help you pay down the loans quickly, and the desire to get your own place could be a constant motivator.
