Credit Advice For College Grads – How To Start Life On A Positive Note And Manage Student Debt At The Same Time Without Going Crazy. The best laid plans start with thoughts of the future and some groundwork today. According to recent college statistics more than seventy percent of graduating students complete their education with more debt today as a result of the rising cost of living and fluctuating economies. It’s time to explore setting up finances and learning how to manage college debt, which for many will continue longer than anticipated. The best credit advice for college grads is to listen and cooperate now and take advantage of the potential rewards of lifetime benefits from smart decisions made today. What it comes down to is a …show more content…
Start establishing a strong credit history today for future credit approvals and avoid the repercussions of yesterday’s bad decisions, big time. The good news, college grads do find the dream job, finance the perfect home and vehicle, while enjoying a chosen lifestyle. It’s all based on living on a realistic budget and having a strong credit history. Here some simple rules: 1. Establish Credit There’s a difference between a credit card and a debit card. Credit card activity is reported to the bureaus, debit cards are not. Secured credit cards can help establish your credit, while paying a monthly bill. It’s a strategy that keeps your bill paid, your balance low and recurring monthly on-time activity reported to the credit bureaus. 2. Pay Student Loans Lenders are looking for credibility to repay and good credit scores, making the payments affordable so it’s paid on-time. If you’ve got multiple loans, consolidate and negotiate for better interest terms with a lender to reduce the monthly payment. Previously defaulted loans can be consolidated to resolve and repair the credit standing for the