3 Financial Cop-Outs for Students
…And how to take ownership of your student loan debt so you can move on with your life
“They made me do it”
Yes, it’s true. When you first entered high school, your parents and the government actually ‘made you do it’. But if you still feel the same way about your college education – then you’re failing to take ownership of the considerable financial advantages your education provides. And that can leave you sounding a bit naive.
For example, did you know that…:
- College graduates are twice as likely to find a job compared to high school graduates
- You earn 60% more…
- And, the total lifetime earnings difference between those with – and without – a college degree is $800,000.
So if you still feel you were ‘unfairly strapped with all this debt’… it’s time to remember: the advantages of your education far outweigh any debt you could possibly have.
That’s why it’s called ‘an investment in your future.’
“I’m just too stressed to deal with it”
If you’re finding it hard to make your monthly payments, you’re not alone. In fact, even in the last 8 years student loan debt has risen 300% (and 1000% since 1985), according to the Project on Student Debt. Unfortunately, this leaves many feeling so frustrated they end up hiding from their financial obligations and cheat their future as a result, just like a high school student cheating on the final exam.
So don’t let all the stress get the best of you!
Instead realize, as any successful business person will tell you, the longer you avoid dealing with financial problems the worse they’re going to be.
Then use the power of that fact to get back on track with your life!
“I don’t know what to do…”
If you’re overwhelmed and you don’t know how to manage your loans, maybe you’re just one of the 84% of undergrads who report wishing they’d had more financial education in college, according to a study by the College Board.
Clearly universities across America are missing the mark on financial education, one of the most important subjects in adult life, and leaving you to figure it out on your own instead.
Fortunately, student loan consolidation offers you the opportunity to get some much needed help.
That’s because it allows you to:
- Lower your monthly payments based on your income
- Avoid interest payments while you’re in the consolidation process
- Permanently lower your interest rates, depending on the market
- Keep from paying late fees which hurt your credit
- Even erase large chunks of debt
- And, most of all, get your life back on track
You see, there is a lot of help out there. But getting that help starts with you. You’ve got to start asking questions, exploring the options and deciding what’s best for your situation. It’s also important to keep your eye on the prize, remembering that taking financial responsibility for your actions is, itself, an essential part of your education, and, many would argue, one of the most important requirements for success in life in general…
So don’t let this chance for debt relief pass you by.
Even millionaires look for help with managing their finances, after all. And if you want to have extra money in the bank in the future, you should too!
