Heading off to college presents students with the opportunity to have a really great four, or possibly more, years. You’ll make tons of new friends, have new experiences, and probably learn a lot about yourself as well.
College will also test you when things don’t go your way. For example, the financial burden that comes with being a student can be incredibly frustrating, especially if it’s not planned for. Here are some things to watch for as a student and how to avoid racking up tons of debt.
Credit card debt
College students are prime candidates for credit cards. Does it mean that they have the money to pay off the things they buy? No, it means that they need a method of payment to make sure that they can afford their books and tuition.
Therefore, banks and credit card companies pay special attention to college students and try and target them to take out debt that will be incredibly difficult for them to pay back. And while you can avoid this altogether by simply not signing up for credit cards, the better option is to familiarize yourself with how they work and pay them off every month.
That way you can build your credit to prepare yourself for life after school.
Rental issues
You’re likely to meet some great friends during college. Chances are you might consider moving in with them. However, you should keep in mind that great friends don’t always make great roommates.
Instead, renting property has to be regarded as a business agreement that both parties understand, to avoid someone skimping out on rent or trying not to pay their part. Be aware of who you rent with and who you decide to share a home with.
You’d be surprised how quickly good friends can turn into despised enemies, if you move in too fast.
Accidents
Whether you walk, bike, or drive to school, college towns are full of crazy and wild drivers. Some are just crazy because of their youth and others decide to drive after too many drinks at the bar.
In any event, if you don’t handle an accident well, it can be life-changing. It’s important that in the event of an accident, you remain calm. You should first check for injuries and make sure everyone is okay, and then call the police to report the accident.
Accidents don’t have to be life altering, but if it’s the first one you’ve ever had, it can be quite scary.
Student loans
Just like credit card debts, student loans are likely to pile up during your time in school. So make sure you begin paying them off as quickly as you can after you graduate.
Furthermore, be smart with your loan money when you get it. You may think you have the money anyway, so what difference does it make where you spend it?
But if you consider the amount of interest you commit to on student loans and how long they take to pay back, you certainly won’t want to be paying for a six-pack for the next 30 years of your life.
College is a great time. And if you stay aware of the issues described here, you can avoid some of the problems that can make it less enjoyable.
