Hey Students, Don’t Get Duped By Debt

College is the time to make new friends, share in new experiences, and WHAT? . . .establish more DEBT? Yep, like it or not, unless your parents are wealthy you will acquire some debt while in school. The good news is that you can limit the amount that you borrow. Even though you are borrowing money to create more wealth for the future, debt management is crucial for future success. Here are some tips to be smart about borrowing and not be duped by debt!

  • More expensive does not always equal better. Pick a school which best fits into the family budget. There are many public colleges which are ranked as some of the best colleges in the country. State funded schools provide a high quality education with a much lower price tag than a private college. Also, there is nothing wrong with starting at a community college and transferring credits. The only thing you miss out on is the higher loan payments- what a pity! Read up on college rankings, best values for the money, etc, and always consider finanaces when picking your college.

 

  • Spend less on textbooks. Renting textbooks is a no-brainer when it comes to reducing debt. Review our site to learn about the best places to rent textbooks and save boat loads of money.

 

  • Be creative about borrowing. If you can borrow money for school from a family member or outside source (interest-free) go for it!

 

  • Be smart about credit. Credit cards are a huge culprit of future debt- so use responsibly. Ideally, only use it in cases of emergencies. Keep the limit to a low amount such as $500. This will save the future aggravation of playing catch-up with soaring interest rates.

 

  • Make you major count. Use logic when choosing a major. Though we all like to romanticize the concept of learning for its own sake, the practical fact is that the primary goal of attending college is to gain future employment. With that being said, if you must major in liberal studies, pick a minor which is specialized to afford you a competitive edge. Otherwise you will be moving back in with mom and dad after graduation.

 

 

 

 

 

eCampus.com - Rent or Buy Textbooks Biggerbooks.com Great alternative to textbook rentals, saves students a lot of money