3 ideas to stay afloat

As the summer comes to an end, I’d like to share a few thoughts on the lovely student loan debt. According to Student Loan Hero, the average Class of 2016 graduate had $37,172 in student loan debt. As I sit here and type that, my eyes start watering because I know the burden that’s going to be as students hit the real world trying to start their careers.

Most people would say that student loan debt is a negative thing. I partially agree with that. The reason why I can’t fully agree with that is because I feel that some students wouldn’t even have the opportunity to go to college if it weren’t for student loans. On the other hand, I do agree that if the debt is not managed correctly, then it can be a huge burden on a graduate.

Here’s my advice when it comes to student loan debt: If you have to go into student debt, you need to first apply for scholarships. There are so many scholarships out there. If you have a decent head on your shoulder, which I’m guessing you do, then you have a very good chance of receiving one! Put in the time because you will be oh so thankful when you notice that your student loan debt isn’t as high as those around you. Secondly, choose wisely the amount you take on. We all know that the first two years are the worst because they make you take the “core classes”. Therefore, why not take these classes at a simple community college where tuition is astronomically cheaper compared to a university tuition. Lastly, manage your debt (and your money for that matter). Think about it, you’re starting school, making new friends, trying to keep your grades up, and the last thing you want to worry about is your bank account. Trust me, you will thank me when you have enough zeros in your bank account to cover the bar tab on Friday night because you took 30 minutes to look at your budget to make sure you could afford the $3 pitchers.

This post is pretty direct, I know. But the reason why I started this blog was to share my thoughts and ideas on how I can make your financial life even better than it is now. Student loans are a huge burden to college students all over the world. And it doesn’t take rocket science to manage it correctly. Hopefully this post will give you something to think about before you start drowning in student loan debt.

Thanks for reading. Feel free to email/comment.

— Chase