Financial tips for student

Going to college is a fun experience, but the tuition and the other fees are not. A lot of graduated college students are in debt, which is a big problem as they look for a job they have to pay for their student loan and also for their daily necessities, which could include their phone bills, transportation fees, rent, food, etc. If you’re a college student and is currently stressing about money, don’t be! Here, we have listed several financial tips that could help you as a college student.

kahsdlkjashdBudgeting is your best friend

It is impossible to keep track of every dollars that you spend, but planning a budget every month is something you will have to do to prevent you from overspending on unnecessary things, your glass of beers can pay your next rent. Without a budget plan, you wouldn’t know where you’re spending your money.
Tip: limit the number of times you eat out or buying takeouts, and you can cook instead to help you save some money.

Avoid credit card unless there’s a discountkjashdklsj

A credit card is very simple to use, and it’s cash-less, but it’s a good idea to steer clear from credit card and opt to use cash instead. But you can use a credit card for a discount; some restaurants will give crazy discounts up to 30-40% for a meal, which will save you a lot of money that you can pay for those bills.

Look for student promo

Since you’re a college student, you have a straightforward benefit that you can exploit, which is the student promo. Some restaurants and stores will give some discount if you’re a student, make sure you read the terms and conditions and also bring your student card!

Look around at your campus for activities

Going to the movies will cost you a lot, and buying a popcorn is expensive. Instead, you can look around at your campus for some fun activities, and for free! Some college has movie nights, social events, and seminars for free; you can look around or ask your friends if there are any fun activities to do with your free time.

Buy or rent those textbooks

alshdkasjdhTextbooks can be quite expensive, but you can buy used textbooks or borrow them from seniors or the library. If you’re forced to buy those used books, make sure you take good care of them because you can sell it again to juniors.
Tip: some websites offer cheap used books, so make sure you look around on the web.

What you should know about the student loan bubble

Once again, the United States of America has found itself in the midst of a financial bubble. Many years ago, a lot of people had been speculating on the status of the country’s healthcare system. And now, people are talking about the cost of getting a higher education, which, of course, involves student loans.

Continuous increase on college tuition fees

gfsagsaghasasIn order for you to understand it better, let’s take a look at the main source of the problem. Every year, you may have noticed that college tuition fees are getting higher and higher. As a result, the number of parents and students who can’t afford the expenses of going to college is rapidly increasing. So, what do they do? They apply for student loans. And take note, a borrower can actually take out multiple student loans if one is not sufficient to finance the total cost of going to college. But what happens if the borrower is unable to pay off his or her loans? It’s the government that picks up the tab.

Student loans guaranteed by the government

Not all people are aware that financial aid, particularly student loan, are guaranteed by the government. This is why it takes charge once a borrower can no longer repay his debt. Well, it is really the taxpayers who suffer from this mess. This is probably one of the reasons most colleges and universities don’t have the qualms of raising tuition fees because no matter what, they would still get their coin.

Yes, as a taxpayer, it is really outraging to think about the student loan crisis. But, don’t you know that you can actually profit from the United States student loan bubble? That’s right. In fact, a lot of people are doing this nowadays.

Make money from the student loan bubble

ghsaghsahgashasAt present, the outstanding student loan balance in the United States is about 1.2 trillion dollars, 14% of this is in default and it is expected to get even worse. But then, this percentage is still not enough to sink the US government. After all, students who have successfully graduated from college are more employable than those who have not. Even if the number of defaults will rise, the good news is, the average of student loans is only $29, 000. For some people, this would look like it is too high, but when talking about macro scale, it is really not. It is not even close to another mortgage crisis.