College can be a great adventure in scholarship and life for many young people. But when it comes to managing a budget, it can be a sobering learning experience in how quickly their money can disappear.
Even worse, six months after a student graduates, when he or she gets their loan payment schedule, they will receive a major reality check on how they were able to accumulate such a large debt with interest in just a few short years. According to studentloanhero.com, the average graduate from the Class of 2016 owes $37,172 in educational debt. Chances are, the new graduates are going to struggle to find a job immediately, and entry-level jobs are not going to allow them to pay off that loan in one year.
The best way students can save money is to live at home. If that is not an option, follow these simple strategies:
By following these tips, you should be able to save money and reduce any loans you might need. Saving a hundred dollars as a student can save you more than a thousand on interest!
Find out quickly at what rate you can refinance your student loan.
Originally Posted at: https://www.moneytips.com/moneytips-for-college-students-1
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