It is exciting when you get enrolled in college or university as you will be studying and majoring in a field of your future career. Promises are given by the program facilitator that when one graduates, they will easily find a career and earn a very decent salary through all the years of hard work, research papers and sleepless nights finishing the projects.
In these times, attending college or university will entail time and a lot of money through tuition payments, purchasing books and materials for the courses. The other entailment is housing. If living with parents then housing will not be an issue. The issue would be for those needing to rent an apartment if coming from another city, province or state. When looking for a house or apartment to rent, the location is one important thing to look at. In most areas, the houses or apartments close to the campus to rent would be the most expensive. The third entailment would be food and entertainment.
Tips to Get help with Student Loan Debt
Budget yourself just to insure that you are able to pay into the debt.
In my situation when I was attending college, I had to apply for a student loan. I did have some government savings bonds that helped a little but ultimately I had to face the fact that I will be in debt and will need to pay it back once I graduated. The other help so that I was not digging myself deeper into debt was living at home and commuting to college. Once I was in my third year of college, there was an opportunity that opened up where I applied for a lab monitor position to help students connect with their account and solve their computer issues. This was the turning point in my college life as the money I was receiving from the internal job helped pay for the tuition and not apply for a student loan. This job continued until I graduated and eventually found a job in the telecommunications section (pre-2000). When I was going through the tough times I did have to budget myself and my spending habits to offset the debt balance from my student loan. Even when I got my job placement within the college, I still stuck to my budget and eventually payed off my the debt when I was in the workforce. It took discipline and a mindset where I drew my roadmap and set a realistic goal to eliminate my student loan debt.
Below are helpful websites that have tricks where you can bring down your debts. The key is ensuring that you are not creating more debt as you are trying to get out because then you are walking on a treadmill.
I found the above site resourceful as it mentions how one can deduct student load interest when it comes to Tax season.
With the above site, I found out that it gives you a direction and a last resort. The last resort brought to me attention to when you are using Federal debt and can ask for a deferment and forbearance to postpone the debt and possibly offer a 0% interest.
Take the time to think about where you can find out how to get debt forgiveness with the lowest interest plus. The time will then help to find employment to then tackle down the debt. If the company that you get employed has a program to work on student debt then this is a bonus to accelerate the debt repayment. The more experience you get in your company then you will make yourself a commodity to other companies that will offer you a higher salary and this will factor into your acceleration and eventual elimination of the student debt.