According to NellieMae.org, the average college student has $2,700 worth of credit card debit. They also have about $19,000 in student loans. Students can take certain steps to prevent and manage. Before you sign up for that card just to get a free magazine subscription or take out a second student loan, read on for some helpful hints.
Tip 1- Plan Ahead- Debt of any kind can be prevented by planning ahead. In order to avoid taking out too many student loans, take some advanced placement courses while still in high school. This can help you to get ahead in college and avoid spending too much money.
Tip 2- Attend a community college- Four year universities tend to be more pricey You can take your basic courses at the local community college and then have them transferred over to the four year school.
Tip 3- Live within your means- Do not buy extravagant items for yourself that you are not able to pay for on the spot. Buying one expensive item can create a bad debt cycle which is hard to break. Instead, visit Wal-Mart and second hand stores for good quality items at a lower price.
Tip 4- Check out work study programs- Many schools allow you to get an on campus job which will pay you a small salary and give you money for tuition as well.
Tip 5- Look for scholarships and grants- There are many opportunities to get free money which does not need to be paid back. Start with the school financial office. They can point you in the right direction.
Tip 6- Only use your credit card for emergencies- If you really need to have a credit card, then only use it for an emergency situations.. This will prevent you from racking up a huge balance and getting stuff that you don’t need.
Until next time, try to stay as debt free as possible! Information for blog was adapted from
http://www.nextstudent.com
http://www.nelliemae.org
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