Graduating Debt
(A discussion on college financial planning)
College, it’s something that sits on the backburners of our minds until now. Senior year has finally come, and we are all scrambling to get into the college of our dreams. There’s just one problem, money. Most college universities cost upwards around twenty thousand dollars a year, and that is for in state students. If you are from out state you will likely pay upwards around double the amount of a resident. Most college students graduate loaded down with debt. The best ways to ensure that you can graduate in a good financial shape are to receive scholarships, take on a job while in school, and to save up beforehand.
Initially, the best way to stay in good financial shape is to receive scholarships. At most schools the price to actually go to school is moderate, but the real spending comes with room and board.
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While in college you are on your own. You won’t have your parents around to buy you whatever you want, and will have to learn how to spend money wisely. Personal expenses range from a night out at a club to the soap you use in the shower. Here is where you may have to learn how to look for any and all deals that are available on the shelves. Going to college makes a person learn that every dollar in their pocket is a dollar that they must savor for it will not last. Personal expenses can quickly add up contributing to the debt already piled up. The only way to account for person expenses in college is to go out and get a job. Obtaining a job is a guaranteed source of income; hereby, meaning that you will only rely on yourself and not mommy and daddy to buy your own things. A job is the only way to keep you from racking up the debt that is experienced when in college. Working while in college prepares you for what is to come when you graduate providing an experience in the work