Tagged: college borrowing
Nerdwallet is reporting that 48% of students reported borrowing an average of $11,597 in excessive debt. Students who reported borrowing excessively broke down to women claiming they borrowed $13,455 more than they needed while men claimed their excessive loan amounts averaged $9,915.
We really don’t like to preach, but please try to come up with a reasonable budget for your college education. In addition to the staples of tuition, room and board, we do encourage you to ‘invest’ in at least one or two nice business attire outfits for interviews. We’re just not sure you will need all the designer jeans, video games and bar tabs that seem to get included in many student loan budgets. Besides, what if you decide to attend graduate school straight after undergrad? What if your first job is lower paying? (Perhaps it’s an exciting startup that includes stock options in the compensation package.)
Quite simply, over borrowing now can mean limited options in the future.
Best of luck with your applications!
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