| number one. There aren't many college students living | | | | but they can also leave you burdoned with debt |
| on their parents money. Many people believe that | | | | before you even have a chance to get a job and |
| students are getting a free ride. That they have | | | | enter the workforce. Try not to get in debt over the |
| parents who planned. For some, that is true. But for | | | | "Animal House" culture. Keep your priorities in order. |
| many the monster of student credit card debt looks | | | | The interest rate on student credit card debt is |
| them in the face every day. This debt is rising annually | | | | probably going to be high. Due to the age and lack of |
| because for many it is their only option for college. | | | | credit history of most college students the rates are |
| Instead of studying after class many students have to | | | | very poor. Because college students have limited |
| go to work to take care of the bills that the student | | | | income they are prone to missing or being late on the |
| loans won't cover. Most college students definately | | | | occasional payment. Because of this they do |
| don't get a free ride! | | | | represent a higher risk and credit card companies will |
| Student credit card debt is'nt always accumulated | | | | raise the rates to exorbitant levels for late paments. |
| from irresponsible partying and recreation. Most of it | | | | You need to make sure that you keep up with the |
| comes from a need for survival at school. All of the | | | | payments, and don't incur the debt if your not |
| expenses that a student has from food to housing and | | | | absolutely sure you can keep up with your payments. |
| books and supplies can end up being a mountain of | | | | Lastly, its important to understand that it can take |
| credit card debt. The beginning of the debt spiral is | | | | years to pay of your student credit card debt! Make |
| almost a necessity for some students just to make it | | | | sure that you put yourself on a debt repayment plan |
| through school with the materials that they need. | | | | immediately when you get a secure job. Try not to let |
| Without student credit card debt, they wouldn't be able | | | | your credit card balance go over 50% of whats |
| to complete their education. | | | | available. In other words if you have a card with a |
| Staying Focused On Your Education | | | | $5000 limit, think of it as a $2500 dollar card. Interest |
| Parties are great. But students need to make sure | | | | rates are sometimes calculated as a ratio of your |
| they can supply themselves with the necessities for | | | | balance to your limit and at 50% you become a higher |
| school. Its necessesary to prioritize and get things in | | | | risk, so many times you will get your rate jacked up. |
| order. It's never easy to pay off your student credit | | | | While credit cards may be a sad fact of student life, |
| card debt, and sometimes things can spiral to the point | | | | the debt continues long after schools out. Watch your |
| that you're so overwhelmed that you don't want to | | | | finances and don't start your life with excessive |
| even deal with it. But remember, parties are not a | | | | student credit card debt. |
| necessity. They may sometimes feel like a necessity, | | | | |