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·¬ÇÑÊÓƵ (ACE) was founded in 2005, with the goal of providing a strong value proposition for students and a largely debt-free college experience. We have stayed true to this original mission by keeping our quality high and tuition affordable. We have not raised tuition since 2016, our employer partners are 96% satisfied with our graduates and 86% of our students graduate with no debt.¹  

All that being said, student loans are typically a major part of higher education. And, if you’ve been following the headlines over the last few months, you’ve likely noticed a common thread: uncertainty about student loans. With recent leadership and organizational changes at the U.S. Department of Education and ongoing questions about the future of federal financial aid, many students are left wondering: What’s the smartest way to pay for college right now? 

Whether you’re managing existing federal student loans or just starting to explore your college education payment options, this guide breaks down the differences between federal vs. private student loans, offers practical insight into different ways to pay for college, and explains how ACE was designed to help students earn a graduate degree without accumulating more debt. 

Understanding Federal vs. Private Student Loans 

When most people begin to contemplate a college education and the expenses that come with it, there’s a big chance they’ll consider taking out a loan as one of the primary ways to pay for college. But it’s important to remember that not all loans are created equal. In fact, the two main types – federal and private – differ in significant ways. 

What Are Federal Student Loans? 

Federal student loans are issued by the U.S. Department of Education. There are several types, which include: 

• Direct Subsidized Loans: For undergraduate students with demonstrated financial need. The government covers interest while you’re in school. 

• Direct Unsubsidized Loans: Available to most students regardless of financial need. These loans begin to accrue immediately. 

• Direct PLUS Loans: For graduate students or parents of undergrads. This particular type of loan often comes with higher interest rates and requires credit checks. 

As you begin to weigh your options, it’s important to remember that federal loans come with some borrower protections. These can include income-driven repayment plans, loan forgiveness programs and temporary relief such as deferment or forbearance. But as recent political shifts have shown, those protection programs aren’t always stable. Changes in administration and departmental restructuring can significantly impact what benefits are available and when borrowers are expected to repay. 

What Are Private Student Loans? 

Private loans are issued by banks, credit unions and private financial institutions. These loans: 

• Tend to require credit checks and co-signers 

• Have interest rates based on your credit score 

• Often lack the flexible repayment options federal loans offer 

While private loans can help cover gaps in financial aid, they often come with stricter repayment terms and higher long-term costs. Unlike federal loans, there are no forgiveness programs or guaranteed deferment options. 

Why Student Loan Debt Is Still a Major Concern 

Even with loan payment pauses during the COVID-19 pandemic and other loan relief programs, student loan debt continues to weigh heavily on borrowers. This issue is further intensified when inflation climbs or as periods of economic recession loom near. According to recent data, student loans in the first half of 2024 totaled $1.6 trillion with borrowers having no other option but to default on their debt.² And now that payment requirements are returning, the pressure is back on. 

For graduate students especially, debt is a growing burden. According to a report by the Center for American Progress, grad students make up just 15% of the higher education population. However, their loans account for 40% of all federal student loans given out each year.³ With so many factors affecting the most convenient ways to pay for college, more would-be students are asking: Is there a better way to pay for college without loans? 

How to Pay for College Without Loans 

Whether you’re pursuing a bachelor’s, master’s or doctoral degree, here are some alternative ways to pay for college without loans: 

Employer Tuition Reimbursement 

Many companies offer tuition assistance for employees pursuing advanced degrees. Some will cover a percentage of your tuition, while others may reimburse you once you’ve completed the course. These programs are especially common in education, nursing, healthcare and business fields – exactly the areas ACE serves. 

Scholarships and Grants 

While most scholarships target undergraduate students, graduate students can still find opportunities through: 

• Professional associations 

• State-level aid programs 

• Institutional scholarships from your college 

It takes research, but the payoff can be significant and set you on the best possible track to optimize your education while ensuring you do so without crippling debt.  

Pay-As-You-Go Programs 

Some institutions, like ACE, offer pay-as-you-go tuition models. This option allows you to pay for one course or term at a time while continuing to work. This prevents you from taking out loans and accumulating interest over time. 

Why ACE Doesn’t Accept Federal Student Loans—and Why That’s a Good Thing 

You read that right: ACE doesn’t accept federal student loans. And that’s a carefully curated decision designed with you in mind.  

It all comes down to one of our core principles: Make quality, graduate-level education affordable without burdening students with unnecessary debt. Here’s how we do it: 

Transparent, Low Tuition 

• Most master’s degrees under $10,000 

• Doctoral programs under $25,000 

• Most students complete a master’s program in less than one year⁴ 

These numbers are dramatically lower than the national average. For comparison, the average cost of a master’s degree in the U.S. is between $40,000 and often much more at private institutions.⁵ 

86% of ACE Students Pay As They Go 

At ACE, 86% of students pay term-by-term⁶, all while continuing to work. That means no loans, no interest and no waiting for reimbursement or aid disbursements. 

Defer Your Existing Federal Loans 

Even though we don’t accept federal loans, ACE students may be able to defer their existing federal student loans while enrolled. So, if you’re already managing debt, you don’t have to start repayment right away – you can continue your education while possibly pausing those payments. 

Learning How to Pay for College Starts with a Plan 

One of the best ways to avoid student loan debt is to plan ahead. Before you enroll, map out your financial picture: income, savings, potential employer assistance and available scholarships. Set a realistic monthly budget and calculate how much you can contribute per term. Some schools, like ACE, make this easier by offering transparent pricing and flexible pacing – so your education can fit your life, not the other way around.  

What’s the Return on Investment? 

At ACE, affordability is a priority and value is just as important. We don’t just help you avoid more debt – we help you chart your journey through your education with intention. After all, our ultimate goal is to guide you as you move your career forward.  

• Independent research shows an average increase of more than $19,000 in future earnings across our programs for every $1 spent. 

In other words, ACE programs offer a high value return for a low investment when compared with other institutions. For more than 20 years, we’ve seen our students successfully transition into careers as school administrators, nurse educators, instructional designers, policy leaders and more. You can rest assured we want to see the same for you.  

What This Looks Like in Real Life 

Take, for example, a full-time teacher ready to take their career to new heights through an administrative role. With ACE’s affordable tuition, dynamic payment options and flexible schedule, they can complete a Master of Education in a little more than a year. That’s a foundational education designed to optimize her career with the flexibility needed to continue earning!  

And keep in mind that in many cases, a promotion may come with a salary bump. ACE grads see a $19.20 return for every $1 invested⁷ in their education. That kind of return doesn’t just improve finances – it opens the doors to leadership, influence and meaningful impact in the field. 

The Ways to Pay for College Are Changing – and ACE is Changing with Them 

The higher education landscape looks a lot different than it did just a few years ago and its financial aid systems are changing with it. Between rising tuition costs and shifting federal policies, it’s no wonder so many students are rethinking traditional routes to a degree. 

If you’re currently trying to find the answers to your educational finance questions, know that ACE has an answer in the shape of a reliable, affordable alternative. By removing the barriers that come with loan-based models, we make it possible for students to earn respected degrees without the stress of long-term debt. 

When you graduate from ACE, you won’t be waiting for the next debt relief program or worrying about interest rates. You’ll be walking into your next opportunity – degree in hand, debt-free. 

Invest in Your Future the Best Way 

Paying for college doesn’t have to mean taking on more loans. With the right plan and the right school by your side, you can earn a meaningful, career-advancing degree without going into debt. 

At ACE, we’ve built our programs to make that possible. Whether you’re juggling a job, a family or both, ACE was built for students like you. You don’t need to wait for the perfect financial moment. You just need the right support system to take on the journey with you and an institution that believes in affordability with impact. 

Ready to move forward? Explore ACE’s flexible, affordable degree programs and see how a debt-free education can help you reach your goals. 

Learn more about tuition and payment options at ACE.