레이블이 Average Student Debt SCSU인 게시물을 표시합니다. 모든 게시물 표시
레이블이 Average Student Debt SCSU인 게시물을 표시합니다. 모든 게시물 표시

2013년 12월 3일 화요일

About 'average student credit card debt'|...after new college students: kids who...suicide to escape debt, and one about...s experience with credit card bills... for average citizens...







About 'average student credit card debt'|...after new college students: kids who...suicide to escape debt, and one about...s experience with credit card bills... for average citizens...








               Remember               that               movie               with               the               guys               in               Vegas?

Well               this               story               is               worse.

I               remember               when               I               first               began               looking               at               prospective               colleges               when               I               was               just               a               junior               in               high               school.

The               main               thing               I               dreaded               over               was               how               my               family               and               I               would               afford               to               pay               for               college               outside               of               scholarships               and               grant               money.

The               answer               was               student               loans.

I               was               so               excited               when               I               chose               the               university               I               would               attend               and               that               my               financial               aid               application               was               accepted.

In               my               mind,               like               countless               others,               I               rationalized               my               thinking               on               my               future               student               loan               debt               by               telling               myself               everyone               does               it               and               I'll               only               borrow               what               I               need.

The               promise               of               a               great               education,               secure               financial               future,               and               a               once               in               a               lifetime               opportunity               to               go               away               to               college               with               the               help               of               student               loans               can               be               a               recipe               for               financial               disaster.

Unsuspecting               students               and               society               as               a               whole               face               consequences               when               we               are               not               careful               and               diligent               when               it               comes               to               investing               in               our               future.
               The               total               outstanding               student               loan               debt               now               exceeds               over               $1               trillion               and               Americans               as               a               whole               now               owe               more               in               student               loans               than               credit               card               debt.

At               the               time               I               signed               my               loan               documents               to               help               pay               for               school,               I               remember               thinking               that               I               was               making               an               investment               in               my               future               and               that               it               was               for               the               greater               good               long               term.

I               was               convinced               that               this               debt               would               be               'good'               debt               for               me               b/c               once               I               started               paying               for               them               I'd               be               building               my               credit               and               I               could               always               consolidate               all               the               loans               into               one               low               monthly               payment.

One               time               in               college               when               it               was               time               to               sign               the               documents               to               receive               another               student               loan,               the               lady               in               the               financial               aid               office               told               me               I               could               get               as               much               as               I               needed.

To               this               day               I               can               still               recall               an               overwhelming               desire               to               take               out               a               lot               more               than               I               needed               to               have               some               fun               with               extra               money               even               though               it               would               all               have               to               be               paid               back.

After               coming               off               of               my               temporary               high,               I               began               to               think               that               this               'free               money'               should               not               be               this               easy               to               get               for               a               college               student.

It               was               as               if               I               were               being               given               the               key               to               a               bank               vault.

I've               personally               known               people               who               knowingly               took               out               a               lot               more               student               loans               than               they               needed               simply               because               they               could               not               because               they               needed               it.

Students               today               take               out               student               loans               for               a               lot               more               reasons               other               than               paying               for               school               because               it's               readily               available.

Rent,               clothes,               spending               money,               etc               are               just               some               of               those               reasons.
               Now               that               I               look               back               on               everything,               Americans               got               drunk               on               student               loans.

The               availability,               deregulated               interest               rates,               and               overall               need               has               convinced               almost               everyone               who               really               wants               to               go               to               college               that               student               loans               are               the               best               way               to               go               to               finance               higher               education.

Society               has               brainwashed               students               into               thinking               that               higher               education               is               the               best               way               to               secure               their               future.

With               the               average               student               backed               into               a               financial               wall,               they               turn               to               student               loans               to               bridge               the               gap.
               According               to               The               Atlantic               http://www.theatlantic.com/business/archive/2011/08/chart-of-the-day-student-loans-have-grown-511-since-1999/243821/,               student               loan               debt               has               risen               511               %               since               1999.

There               are               2               main               reasons               that               have               caused               student               loan               debt               to               skyrocket:               1.

the               continual               rising               cost               of               college               tuition               and               2.

over               inflation               of               other               college               expenses.

It's               no               secret               that               the               cost               to               attend               college               has               increased               significantly               over               the               last               2               decades               while               Americans'               income               has               failed               to               keep               pace.

Each               year               it               seems               the               public               and               private               schools               raise               their               tuition               and               fees.

College               expenses               (books,               housing,               meal               plans,               admin.

fees               etc)               are               also               over               inflated.

This               over               inflation               is               due               to               the               availability               of               student               loans.

As               long               as               they               are               available,               these               expenses               will               continue               to               rise               b/c               they               know               students               will               get               the               money               to               pay               for               them.

The               only               way               I               see               the               problem               can               be               fixed               is               for               colleges               and               universities               to               cap               their               costs               of               tuition               and               fees               as               well               as               for               the               government               and/or               financial               lending               institutions               to               either               cut               the               APR               on               student               loans               in               half               or               charge               no               interest               at               all               for               a               specific               time               period               of               the               loan.

There               have               been               rumblings               that               student               loan               forgiveness               should               be               put               into               law               but               that               will               only               make               things               worse.

Our               society               would               end               up               being               well               educated               but               even               more               financially               illiterate               and               irresponsible.
               Americans               in               this               country               got               drunk               on               student               loans.

Using               them               to               pay               for               any               and               all               other               expenses               other               than               education               made               it               seem               like               the               right               thing               to               do               at               the               time.

Now               that               the               hangover               has               set               in               (down               economy,               lack               of               jobs,               deferment,               creditor               calls,               late               fees,               etc.)               it               is               a               harsh               reality               for               many               Americans               and               it's               starting               to               take               its               toll.

While               student               loans               can               be               considered               the               new               21st               Century               gold               rush,               Americans               got               lazy               and               felt               like               they               didn't               need               to               work               or               find               alternative               methods               to               help               pay               for               their               education               b/c               they               could               always               obtain               a               student               loan.

Now               that               the               'high'               is               over,               it's               time               that               Americans               face               the               facts               about               the               importance               of               having               financial               literacy,               being               more               entrepreneurial               minded,               and               work               on               saving               more               as               a               culture               and               society.






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    1. studentlendinganalytics.typepad.com/   04/15/2009
      ...of college students had four or more cards. ...record-high credit card .... The average (mean) balance.... Median debt grew...
    2. rougeknights.blogspot.com/   11/01/2007
      ...after new college students: kids who...suicide to escape debt, and one about...s experience with credit card bills... for average citizens...
    3. rogerhollander.wordpress.com/   01/09/2009
      .... But debt incurred...than 1,500 college students by US PIRG in...at least one credit card. Seniors... an average debt of $2,623...
    4. moneygal2020.wordpress.com/   01/05/2011
      ...card debt: $16,007* -*Average APR on credit card with a balance on it... debt (98 percent of which...Mae, “How Undergraduate Students Use Credit Cards...
    5. economicfolk.blogspot.com/   04/18/2011
      ...Student loan debt outpaced credit card debt for the first time last... this year as more students go to college and a...college with an average of $24,000 in debt...
    6. shine.yahoo.com/blogs/author/ycn-1137265/   08/25/2010
      ... when most college students turn to credit cards and likewise expose themselves to the wonderful world of credit-card debt. The average undergraduate in 2008 ...
    7. smartpei.typepad.com/robert_patersons_weblog/   08/15/2011
      ... average is...that Scottish students do not have... by easy credit? More here on...student-loan debt exceeded total credit-card debt ...
    8. howtodealwithcreditorsandgetoutofdebt.blogspot.com/   01/11/2009
      ...have credit cards, and the average undergrad has $2,200 in credit card. Additionally, they will amass almost $20,000 in student debt. "(Source: Nellie Mae, "Undergraduate...
    9. blog.500startups.com/   10/28/2010
      ...That’s how mad we are at debt. [5] The average outstanding balance on graduate student credit cards is $8,612 in 2006 (median...
    10. shine.yahoo.com/blogs/author/ycn-1117833/   10/18/2010
      ...commit to paying off your debt as quickly as possible. 2. Pay off your bills. Credit cards charge an average interest rate of 14 percent. A...
    11. Average Student Credit Card Debt - Blog Homepage Results

      ... saddled with over $20,000 in student loan debt alone. Add on consumer/credit card debt, and the average college student can be $25,000-35,000 in debt before he/she gets his/her first full-time job...



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    2013년 11월 25일 월요일

    About 'average college student credit card debt'|New Research Shows College Seniors with Average Credit Card Debt of $4,100







    About 'average college student credit card debt'|New Research Shows College Seniors with Average Credit Card Debt of $4,100








    Shortly               after               I               finished               college               and               moved               to               Boston,               I               began               working               my               first               full-time               job               at               a               non-profit               health               care               organization.

    As               a               program               assistant,               I               made               just               under               $30,000               a               year.

    Below               you'll               find               the               10               ways               I               saved               money               and               lived               debt-free               on               a               $30,000               salary!

    1-               Get               a               Roommate.

    I               initially               rented               an               apartment               for               $1,000               a               month               by               myself.

    This               was               a               big               mistake.

    After               several               months               of               scrimping               by,               I               decided               that               sharing               my               space               and               paying               $500               a               month               less,               made               much               more               financial               sense.

    If               you               need               a               roommate               ask               friends               and               family               first.

    If               you               can't               share               with               someone               you               know,               try               craigslist               or               your               local               newspaper               classifieds.

    Don't               spend               more               then               a               third               of               your               take               home               pay               on               housing.

    If               you               can't               afford               your               rent,               you               will               end               up               going               into               debt.
                   2-               Say               "No."               When               You               Can't               Afford               Something.

    Be               honest               with               your               friends               about               your               financial               situation.

    "I               work               for               a               non-profit..."               was               usually               a               sufficient               explanation               as               to               why               I               wasn't               willing               to               chip               in               on               expensive               wedding               gifts               or               "go               in               on"               a               beach               house.

    Don't               let               your               broke               friends               convince               you               to               make               bad               financial               decisions.

    If               your               friends               tease               you,               they're               probably               secretly               jealous               you               have               the               fortitude               and               commonsense               to               say               "No".

    If               they               try               to               bully               you               into               spending               money,               ditch               them!

    People               who               encourage               you               to               spend               money               you               don't               have               are               not               your               friends,               they're               debt               enablers.
                   3-               Barter               and               Trade.

    If               you               have               a               particular               skill               or               can               offer               a               service,               barter               with               your               friends               and               neighbors.

    I               often               babysat               for               friends               in               exchange               for               pet               sitting               while               I               was               on               vacation.

    I               saved               about               $50.00               a               day               in               boarding               fees               and               my               neighbors               got               a               reliable               sitter               for               free.

    Be               honest               and               only               make               trades               that               both               parties               think               are               fair.
                   4-               Cook               at               home.

    When               I               made               $30,000               a               year               I               cooked               most               of               my               meals               at               home.

    An               average               takeout               dinner               will               set               you               back               about               $10.00.

    For               that               same               amount               of               money,               you               could               buy               a               pre-cooked               rotisserie               chicken,               a               bag               of               potatoes,               and               a               can               of               peas.

    The               meal               you               bought               at               the               grocery               store               is               more               nutritious               and               will               last               longer.

    To               stay               debt-free               on               a               $30,000               salary,               you               need               to               be               willing               to               cut               back               on               luxuries               like               dining               out.
                   5-               Have               an               Emergency               Fund.

    When               you               make               $30,000               a               year,               unanticipated               expenses               will               cause               unprepared               individuals               to               have               a               financial               meltdown.

    I               always               tried               to               put               aside               3-6               months'               worth               of               expenses               in               a               savings               account               for               emergencies.

    Several               times               when               I               had               to               do               minor               car               repairs,               I               was               pleased               to               be               able               to               dip               into               my               savings               and               not               go               into               debt.

    Emergencies               happen,               whether               you               save               for               them               or               not!
                   6-               Don't               Buy               Things-               This               seems               pretty               obvious,               but               don't               buy               things               you               don't               need               or               can't               afford.

    It's               tempting               to               buy               things               that               you               want               immediately,               but               practice               a               little               self-restraint.

    Each               month               I               let               myself               have               $150.00               of               "blow               money"               to               spend               on               whatever               I               wanted.

    When               the               money               was               gone,               I               stopped               shopping.

    If               I               wanted               a               $300               wool               jacket,               I               saved               for               two               months               to               buy               it.
                   7-               Stay               at               home.

    When               I               was               making               $30,000               a               year,               I               had               to               limit               number               of               times               I               went               out               in               a               month.

    Instead               of               spending               money               going               to               the               movies               or               meeting               friends               for               happy               hour,               I               invited               friends               to               my               apartment               to               have               a               few               drinks               and               watch               borrowed               DVDs.

    While               many               of               my               friends               were               racking               up               thousands               of               dollars               of               credit               card               debt               on               food               and               entertainment,               I               was               able               to               save               money               each               month               and               pay               down               my               student               loans.
                   8-               Use               Public               Transportation.

    If               you               live               in               a               city               that               has               decent               public               transportation,               use               it.

    When               I               lived               in               Boston               I               took               the               T               everywhere.

    Not               only               will               you               save               money               on               gas,               parking               and               maintenance               on               your               car,               you'll               also               be               saving               the               environment               at               the               same               time.
                   9-               Don't               Compare               Yourself               to               Others-               When               I               made               $30,000               a               year,               I               assumed               that               many               of               my               friends               were               making               much               more               money               then               me.

    To               be               honest,               I               felt               jealous               and               even               a               little               bad               for               myself               that               I               had               chosen               a               job               that               paid               so               little               compared               to               what               my               peers               made.

    Don't               have               a               pity               party               for               yourself!

    Years               later,               I               found               out               that               many               of               those               friends               also               made               $30,000               a               year,               and               are               now               in               over               their               head               in               credit               card               debt.
                   10-               The               Best               Things               in               Life               are               Free.

    Take               advantage               of               everything               in               your               area               that's               free.

    Hike               in               local               parks,               attend               free               talks               at               the               local               community               college,               sign               up               for               a               book               club               at               the               library               et               cetera.

    It's               amazing               how               many               events,               classes,               and               performances               are               available               for               free               to               the               public.

    Some               of               the               best               Shakespeare               performances               I've               ever               seen               have               been               free               on               the               Boston               Common.

    Ask               around               and               you               might               be               surprised               how               many               free               things               do               exist               in               your               area.
                   This               is               an               abbreviated               list               of               some               of               the               things               I               did               to               save               money               and               live               debt-free               when               I               was               making               a               $30,000               a               year               salary.

    There               are               so               many               more!

    Don't               be               afraid               to               "think               outside               of               the               box".

    Many               of               my               favorite               memories               of               living               in               Boston,               stem               from               one               or               more               of               these               money               saving               tips.






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