One of the worst things to have to do is jump out of college and into student loan debt. It's like sitting on a tack. And here's what Davidson College has to say about it. The liberal arts college in North Carolina is dropping student loans from its financial aid package. Talk about smart ... they should get a degree for doing it.

It's a good alternative to a student loan if there ever was one, jack. You can go to most any college in the U.S. of A. without debt. And on average, it'll save you about 30 or 40 grand in payments. Don't be a sucker ... work part-time, go for scholarships and grants ... but stay away from Sallie Mae loans.

The sooner you learn to live without debt, or pay off debt, the better. Once you get out of debt, you can call The Dave Ramsey Show and scream that you're debt-free. Feels almost as good as getting that sheepskin in your hand. Make it happen.