College Students Guide To Staying Out Of Debt
No one really wants to leave college buried in mountains of debt, but one in ten students who graduate from college have more than $10,000 in debt. This isn’t very good news considering they are supposed to be just beginning their lives. However, for some college students, getting loans is unavoidable because their priority is to get their degree and graduate. There are ways to stay out of debt if you want to, though. Remember, unlike your classes in school, credit card debt isn’t something that is mandatory. Below are a few ways you can go to college and stay out of debt.
Find a college that wants you. Most people dream of going to a big school, but along with that dream is the reality of having to pay all those expensive tuition fees. Instead, try finding a school that wants you. When you do, you probably won’t have to worry about student loans. See what types of scholarships the school offers you for academics, sports or whatever it is that makes them want you. Another option is going to a community college first. Take two years of classes and when you are through, transfer to a better school. This is a great way to start if you don’t know what you want to do in your future. When you are through, if you had great grades, transfer to a better college. Even just those two years at a less expensive institution can save you serious money.
Scholarships and Part-Time Jobs
You can look around for scholarships to fund your school, or you can try to get a part-time job. You can also do both. Perform a broad search on the Internet, and you’ll probably be surprised at how many scholarship offers you can find. Look for some summer jobs or work-study jobs through the college. Plenty of students do this and support themselves all the way through college, and you can do it too. Another option is the co-op programs that many colleges and universities offer.
Stick to a Budget
Come up with a budget that you can stick to. It might be difficult to do when you see a new cell phone or iPod being released, but think smart and think ahead. There are plenty of great buys always lurking out there for you to buy. It’s always tempting to use your credit card, but if you learn to survive on credit cards, you will truly suffer the consequences later on. If you do find yourself in too much debt, you can ruin your credit rating which can negatively affect you for the rest of your life. If you find your debt is out of hand, contact Lexington Law at http://www.lexingtonlaw.com/. A reputable company can help you repair your bad credit.
Do the best you can to purchase all your college belongings with cash rather than using a credit card. If you always use cash during your college years, you won’t end up with any credit card debt or a bad credit rating.