A recent study by the National Center for Education Statistics shows that 50% of recent college graduate have student loans, with an average student loan debt of $10,000. The average cost of college increases at twice the rate of inflation. With the rising costs of college, it is difficult for aspiring colleges students to get enough scholarships and grants to pay for college and basic necessities. More and more college students are forced to use credit cards to pay for basic essentials such as books and school supplies. According to the United Marketing Service (UCMS), the average number of credit cards per student is 2.8.
Here are 8 ways to help with paying off student loan debt:
1. Develop a plan. Develop a plan to pay off your student loan debt before you graduate.
2. Save your money. Each summer throughout your college education, get a job or internship. Save half the money in a high interest savings account such as www.emigrantdirect.com (5.05%). After a few months, consult a financial advisor to earn the highest possible return on your money. After college, you can use the money saved during all 4 years to pay down your college debt.
3. Use caution with consolidation. Consolidating […]
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There0s lots of good ideas out there on what you can do to correct a bad credit or a bad debt situation. But have you ever taken a few minutes to think, 0How in the heck did my credit get so bad?0.
Bad credit does not come about because it0s something that you thought about and planned for. It0s more like the opposite. It comes about because you0re enjoying your life, spending on what you want, not always just what you need.
Let0s face it. Credit is a great thing to have. Credit takes your life to a whole new level. Just try to book that hotel room in Las Vegas without a credit card! Most hotels wont even take cash because they want to bill you for that last meal or whatever after you0ve checked out.
But here are some ways to that you can ruin a good thing:
1. Never pay your bills on time.
2. Use credit cards for all purchases, large and small.
3. Borrow against the equity in your home.
4. Buy the most expensive car or home that you can afford.
5. Amass substantial student loan debts.
Now lets talk about this list for a minute. Are you always waiting until the last […]
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There are many things in life that the average household can live without, but life insurance should not be one of those things. The importance of life insurance increases as the number of people in a household increases. A single person with few, if any, close relations can get by on a very little life insurance or perhaps no insurance at all. The same cannot be said for persons who have family members or other types of responsibilities.
Life insurance is a way to protect your family against possible financial trouble or even ruin, depending on your circumstances. Life insurance is also a way to relieve some of the anxiety that family members may feel as they wonder how they will get by should a breadwinner in the family pass on. Some forms of life insurance can even be used as a means of saving money over the long term.
It is important for consumers to understand that the term “life insurance” is a very broad term. There are various types of policies, and often one will be a far better option for a particular family or person than another might be for that same family or person. Because there are so […]
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