Summer Is Winding Up And It'S Time For The Kids To Go Back

Check out this great podcast episode on how to plan financially for a college education. It has helpful tips and questions to guide parents in the ins and outs of Taming The High Cost Of College.

* Create a budget- creating a budget will help you not spend more money than you have. Creating a budget will also help you stay out of debt.

In the year 2007, 18.2 million students enrolled into college. About thirty-nine percent of those students were between the ages of eighteen to twenty-four (Marcus). College is seen as something one must do to be able to have a successful life or career. Student debt is almost guaranteed for anyone that goes into college. Seventy percent of bachelor's degree recipients graduate with student debt. Student loans in just the U.S. alone are up to 1.2 trillion dollars, this is the second highest level of consumer debt, just trailing behind mortgages (Snyder). Student debt has been an issue for anyone thinking about going into, that is attending, and graduating or leaving college. How to solve this issue is very simple, which is to save money, lower

The cost of classes, books, dormitory housing, food, and other necessities, can quickly add up to a substantial bill. Especially, after four years. Because of the significant financial burden of these costs, seventy percent of students take out student loans to cover all the expenses associated with their college education. After graduation, twenty percent of students have incurred debt from student loans of fifty-thousand dollars. Five percent of students have student loan debt totaling one hundred thousand dollars.

College today is so expensive that most people that are fortunate enough to attend, end up having to take out student loans at one point during their collegiate careers to help pay for their tuition and other fees associated with college. If people do not manage their student loans right, the debt can pile up and put you in very shaky financial state, and have major impacts on ones life as well as others too. There are ways that you can manage your student loans, and pay them off in an effective and timely manner such as: paying of the most expensive loan s first, picking the right payment options, staying in touch with your lenders, and paying more than the required

Now that I'm a senior I guess college is right around the corner, along with the dreaded expenses. Paying for college can be a stressful experience or a walk through the park. For most it's a mightmare, because of the debt they are or will be in. I've always been concerned about how my family and I were going to pay for college. Fortunately there are many options I can take advantage of to avoid a horrible financial fate.

According to The Institute for College Access and Success “Seven in 10 college seniors (71%) who graduated last year had student loan debt, with an average of $29,400 per borrower. From 2008 to 2012, debt at graduation (federal and private loans combined) increased an average of six percent each year”. That means student are really struggling to repay their student loans that they have got for college tuitions .Some of students may spend their life time repaying their student loans. The solution for this issue is really simple which is a good financial management is. Students can repay their debt with good financial management. Also, by paying on time, the interest rate does not increase (Wilson, 256). For the truth, Students should be fully responsible of borrowing money and repay it on

Although the reliance on student loans continues to increase for college students across the nation, the vast majority of American teenagers are not required to attend and complete a Financial Literacy course before graduating high school. According to Jillian Berman, only five states scored an A on the 2015 Report Card on State Efforts to Improve Financial Literacy in High Schools, and those same five states are the only states in the country that require students to take a dedicated semester of personal finance courses before graduating (Marketwatch.com). There is an obvious problem with the state efforts to properly educate finances when 14 out of 50 states rank in at a failing grade. Money is an essential asset to life on Earth, and proper education on financial management is vital for the basic requirements to sustain life. Education on how to manage money in order to afford food, shelter, clothing should be the main priority of the Financial Literacy courses. More in-depth are topics

Money is a necessity in life and is a constant worry for college students especially when you take out a $10,000 loan. Financial aid has replaced studying as the biggest worry for college students. The objective of college is to learn and grow as a person, but is limited by financial capabilities which is a big problem for the U.S. education system and prices continue to go up. Main focus is having to focus on rigorous studying, students may also have to work to stay in school. A student is paying college through a $10,000 loan and working a part time job 20 hours a week. John wonders if getting a credit card will help him financially. The best solution is to attain a credit card that has student benefits included and will make it easier to protect and keep track of your money.

Even with my personal problems, I also have had to make other adjustments in my life. We all know college is very expensive, so money is very limited. I was never really good with money until I started going back to school. I am used to shopping and going out to eat everyday. When the time came for me to cut back on my spending, it was like someone stabbed a knife through my heart. It not like I can’t go shopping anymore, it just means I just can’t buy the high-priced, premium items now. For example, I’m used to buying Gucci, Louis Vuitton, and Prada. The only way I am saving money is by just staying away from those three stores. In just two months I have saved lots of money.

Budgeting can be very difficult, nevertheless for college students, so I will be explaining how to budget in college by making smart decisions. A college education is probably one of the most expensive purchases a young adult will most likely ever purchase in their lifetime. College can be very expensive as a consequence tuition can range anywhere from 10,000 to 70,000 a year. Nearly all college students pay for college by a college fund, scholarship/grants, out of their own or parent's pocket or borrowed money. Despite the fact some of those payments aren’t directly coming from the student it is more than likely that they still don’t have a stable income to provide themselves with basic necessities. Most colleges don’t provide students with basic necessities which means they acquire to go out and obtain everything needed as far as food, supplies, books, also toiletries. The average college student spends anywhere from $200-$700 a month on just the articles they need. While on articles they want they spend anywhere from $20-$200. More than likely that most college students don’t work, notwithstanding first-year students and athletes, which is a large population of the school anyway. Today most students aren’t obtaining a stable cash flow and even the ones who are from allowances or a job tend to still most likely struggle with budgeting. Budgeting can be a very difficult task even for adults or people making a substantial amount of money, but it’s not impossible if

Find your magic number or spending limit. Make your budget moderate. You should not spend more than you can afford. Some people like to dedicate a credit card only for Christmas shopping. The upside to this is that it allows you to make payments on throughout the year. The downside is that you have debt throughout the year. Most credit unions can set up an automatic draft of small increments from your paycheck to go into a saving account for holiday shopping. This allows you to just spend what has been placed on this account and be debt free. Make sure that the budget contains room for decorations, gifts,

College students usually do not understand that there should be a budget set between the things we want and the things we need. Today I will be informing you how to save money so that you are able to save money throughout your college lives. ( thesis and purpose statement)

Another way to reduce impulse buys is; leave the debit cards at home when you are shopping and bring cash instead, which may be harder to spend; the cost becomes real. In addition, it is also easier to limit the amount you put in your pocket in advance.

The present day economy is completely unstable—it fluctuates up and down, with no reliable way to know for sure what it will look like the next day. Navigating our economy is extremely difficult for all individuals, but especially for students. This is because students are young adults, learning how to be independent, self-reliant, and manage their finances at the same time as being a full-time student. In order for students in college to navigate the economy in a successful manner, I would recommend three methods—limit excessive spending, take out less loans, and start working at an earlier age. In following these three steps, students can better manage their finances, become financially independent at a young age, and can better navigate the unpredictable economy.