...There are many reasons why one to avoid taking on student loan debt, first of all we all know that any type of loan is required to repay to the lender later on. However, student loan debt can be very serious if one did not pay back to the lender. Having too much student loan debt can destroy person life financially and make things worse, and I also personally heard some people stories about their student loan debt. Some of them regretted about loan they took while they were in college. After 5 to 7 years repaying their student loan they haven’t pay off their loan yet. And there are several things happened to some of them such as: been denied from getting car loan or house loans. And because of these types of obstacles some people who graduated from college are having hard time with relationships, have kids...
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...manage their finances. I believe young adults (including Dalat students)...
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...good credit, and how to avoid different traps. Credits cards help many students to get financial freedom and desirable independence. Each student should use the credit card wisely as lately it helps him/her to reach the goals such as fulfill educational dreams or to buy a car. Credit card monitoring is important things for students that just require some common sense and responsibility. Our Service Can Write a Custom Essay on Credit for You! In fact, there are a lot of tips how to monitor the credit for getting good one. Following them student can easily prevent all possible trouble situations. Here are some of them: 1. Student should develop reasonable budget for each month, be thrifty and be able to stretch the money. 2. Student should not delay with bills payment. All the bills must be paid on time as in other case even one late payment can negatively impact on the student’s credit score. 3. If the student experiences some problems with bills payment, he/she should immediately provide the creditors with the changes. Student must keep in mind that this is his/her responsibility to inform the creditors about the changes. 4. The minimization of the card debt is also very useful in the student’s case. It is better not to exceed 30% of the available credit limit. 5. Charging more on the student’s card than the student can repay is unwise and irresponsible. Student must develop the wise habit of cash using. It means that student must avoid the habit of using credit...
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...Credit Card Debt ATTENTION GAINER: I am going to need some audience participation. Everyone take a $5, $10, or $20 dollar bill out. How many of you are willing to rip your money up? You probably wouldn’t do it and think this is crazy, but we throw money away like this in the name of our car, television, or shoes every month. Let me give you an example. SIGNIFICANCE (ATLEAST 1 SOURCE): Let’s say you owe $1000 on your credit card and you have a minimum payment due of $25 and you are being charged 19% interest. How long do you think it would take you to pay it off by just making the minimum payments? The answer is 7 years according to the February 2005 issue of University Wire. And for the first year you would be paying somewhere between $10 - $15 in interest a month. This concerns you because using a credit card is a convenient way to make purchases but if you’re not careful you may fall into an uncontrollable debt. THESIS: Today I am going to introduce you to credit card debt. PREVIEW: I am first going to cover the problem of credit card debt and how it affects us, second who is to blame for credit debt, and finally the steps to take to avoid it. PROBLEM (ATLEAST 2 SOURCES): According to the May 2005 issue of the US Fed News, half of 1st year students own a credit card and almost all second-year students own a credit card. The average college student that owns a credit card has at least 4...
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...Potential Solutions for Students College cost becomes a main factor for an individual who is deciding whether or not higher education is the most reasonable decision. Based on statistics alone, the majority of students planning to further their education will most likely take on debt in the process. As a result, students may find it necessary to seek alternative resources in order to receive their education. This issue of tuition costs, specifically, have also been addressed several times by President Barack Obama, who has devised plans to eventually lower the costs. In addition to tuition costs, students must also spend a significant amount of money on books. Unless alternative approaches are taken, the costs of higher education will continue to increase, which may deter students from attending college immediately after high school. In today’s society, a college degree has become a necessity for anyone planning to establish a career. Because the concept of college is so valued, ambitious students want to make the best of their education. However, as the demand for a degree increases, the cost of college also progressively increases. This allows for colleges to manipulate the cost of tuition for their own benefit, as they are aware that some students would be willing to pay the full cost. The students, who are unwilling or unable to pay these high tuitions, might ultimately have to seek other options even if they are good students. However, even if the student is able to earn his...
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...Persuasive Student Loan Essay “Private student loans should be avoided at all cost,” says Suze Orman. If student loans of a type of good debt, then why does Suze Orman, a successful author and financial advisor, say to avoid them? You would think she would know what she’s talking about. Wouldn’t you? It just so happens that she is right about student loans. They should be avoided for two main reasons. Student loans cost way more than they’re worth causing them to be unnecessary, and Student loans lead into massive debt. Student Loans are unnecessary. Why would you borrow $100,000 to go to a private college and get a law degree when you could work and pay off $24,000 to go to a cheaper, in- state public college and get the same degree? It is possible to finish...
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...Week 5 Assignment Week 5 Student Loan Summary If you borrow too much debt you may end up having to file for bankruptcy or end up having bad credit. It can also make you have a job you are unhappy in or work more than one job to pay off your debt. Another thing about borrowing too much is the stress it may cause on you from trying to pay it off. The best way to avoid this is to have a budget and stick to the budget, only borrow what you can pay back. I have been working for a while on clearing my credit and part of this has helped me obtain a student loan in which I am already paying on. My plan to pay this back is to use some money that I have from my grants and I also plan on paying on them while I am in school like I am already doing. I feel that by paying for them while I am in school is a great way to avoid getting in debt after school. I have a friend who has been out of school for 13 years and she is still paying on her student loans. A positive thing I am doing to help keep my student loan under control is to have a plan and budget and sticking to that plan and budget. Once I am out of school and working I will sit down and look at my budget and the money coming in and make any changes to my plan and budget. I am hoping to have my loans paid off before my 6 month grace period is...
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...2012-13 to $8,893 in 2013-2014. In 2013-14, the percentage increase in tuition fee prices for out-of-state students was 3.1% which was slightly higher than that for state residents at public four-year institutions. There was an increase from $12,887 to $13,310. The $110 increase in average tuition and fees for full-time students in a public two-year colleges reflected a 3.5% increase from $3,154 in the years 2012-2013 to $3,264 in 2013-14. The $1,105 increase in average published tuition and fees for full-time students at private nonprofit four-year institutions reflected a 3.8% increase from $28,989 in 2012-13 to $30,094 in 2013-2014 (“Trends in Higher Education”). Furthermore, between the years 2001 to 2011, at least a third of states experienced funding cuts. During the recent recession in 2008, total public funding for higher education has declined by 14.6 percent (O'Shaughnessy). Consequently, the escalating cost of college tuition has threatened educational opportunities for prospective college students. Free college education has been an ongoing debate between families, students, and politicians. One of the key factors in the social and economic development of a country is education. There are different opinions on whether college education should be free or not. Many claim that education is a right and should be free while others claim that students who are...
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...two-thirds of college students graduate with student loans. Most of them think that this kind of debt is “good debt” and is normal for a teenager or any student to do. Dave Ramsey clearly states that “no debt is good debt”. Almost 70% of college students graduate with student loans. 30% of students who take out a student loan dropout. All of those students still think it is okay and normal to be taking out the loans and getting stuck even after they graduate. Although people believe all of this is normal and what you need to do to get a good education, the truth is that student loans lead to a lot of hard debt to pay off, and if they don’t pay off the debt fast, life after college is not enjoyable. There is no reason why...
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...Annotated Bibliography for Student Debt Isaiah Graves DeVry University Annotated Bibliography for Student Debt Almost everyone in America is affected by some form of debt but the debt that is the leading costing is debt that student’s get while attending college, The funny thing is that there are ways to eliminate the debt before it pile up it just take some time and effort. Student debt should be taking more serious and instead of getting loans piled up students should look to apply for scholarships and grants. While in school students should take advantage of some the scholarships and grants that out there are things that some Put your first alphabetical reference here in correct APA format. Consult the textbook or Noodle Tools for tips on using APA style. Use a hanging indent paragraph structure; pay attention to capitalization, spacing, italics, and punctuation. Click here for more on Noodle Tools http://library.devry.edu/pdfs/using-NoodleTools.pdf Start the summary by stating the main points of the article here. Provide a high-level summary of the author’s main points and assess the credibility, reliability, and timeliness of the source. Start your assessment here: Next add your comment. How will you use the source? Does it define or explain the problem or issue? Support or contrast your thesis? Identify the section of your project where you could include your source. Avoid obvious ideas such as “this article was interesting and will be used in my paper” or...
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...Credit card usage and debts among teenagers Cummins, Haskell and Jenkins’s research study, “Financial Attitudes and Spending Habits of University Freshmen” published in 2011 in the journal Journal of Economics and Economic Education Research, examines two factors that are associated with college students’ credit card indebtedness. The author states that college students’ buying patterns and financial values affect their credit card indebtedness. Specifically, students with a tendency towards compulsive buying are more likely and those with effective financial management are less likely to hold credit card debts. Depth interview data further illustrate the contexts and causes of overusing credit cards as well as solutions for their debt problem. It sheds light on reasons why college students fall into credit card debt and suggests strategies for helping them use credit cards wisely. In the 2012 SCMP news article entitled, “Students responsible with dollars and Cents”, the writer gives statistical data collected from the survey which is conducted by the Tung Wah Group of Hospitals and the University of Hong Kong. A total of 802 undergraduate students respond to the survey. It indicates that majority of students possess one or more credit cards and one-third accumulate debt. Half of the respondents in this survey know little about credit knowledge which is significantly related to debt levels. The findings suggest that credit education is needed for students to help them make informed...
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...In today’s society, many students will go on to receive a higher education after high school, but is the cost of having a higher education worth it? In 2017 the average college graduate accumulated more than 34,000 dollars in student debt (Dickler). ADD. Student loan debt creates early financial difficulties for young adults, leading to many mental and physical issues from stress and overall hurts the economy. With the weight of student debt on a person’s shoulder, they are less likely to be financially successful in the future. According to Kelly Holland, the time for someone to get ahead financially is when they are twenty to thirty years old, however, their student debt can prevent them from doing so. Having to pay off their debt and...
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...responsibility, students are taking out large loans to pay for their education, unaware of what is ahead of them. The cost of higher education is driving Americans into debt. Financial classes should be available in all high schools, in order to best assist and guide all students in upcoming situations. Taking a better look into this idea, there are no financial advice classes in high school to help students; in fact most students have to way until they make it to college, to have access to those classes, that is if they even take it at all. Expert argues that “high school students should be required to take courses in economics and personal finance” (Young people in debt). When it comes to paying for college, not everyone is ready or is eligible for financial aid. According to FAFSA to be eligible to receive federal student aid, students or their guardian must be a U.S citizen, have a high school diploma or GED, maintain...
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...most common requirements I saw was you must have at least two years of experience. Being an inmate or newly graduated student the odds are you never got the opportunity to get the experience needed. Most inmates became incarcerated when they were young so the years of experience are lacking. To fix this they may need to work up the corporate ladder to get the job. Some individuals may see this as to much work and avoid the high paying jobs that require experience. This obstacle can be frustrating for a new graduate because they just spent four or more years in college to work in this field but now they need years...
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...Debt-free college degree For all Sources: 1. The article was posted in April 2011. The information is relevant to the questionnaire. 2. The intended audience is to college students, students entering college, and parents who pay for college. It is targeted towards mainstream audience. 3. The author is Fabian Ramirez. Not much authority on the subject matter 4. The author goes into detail about how to avoid college loan debt. 5. The information is unbiased. The article is based off of facts For a Website: 1. The website is Bankrate.com- not really reputable other than the fact big banks are sponsored. 2. Bank rate discusses all aspects of financial planning and calculating. Its mission statement is to empower consumers to make effective personal financial decisions. 3. The article is old but the website itself is current. 4. The website is reputable because Vanguard and Ally Bank are sponsored 5. The website is well designed but has a lot of information on the home screen. Is college worth the cost? For all sources 1. The article is about 2 years old. The information is relevant to my topic. 2. The intended audience is to students thinking about college. 3. The author is Christina Couch- she has other articles about student debt 4. The author provides a lot of details of the struggles of graduated college student’s difficulty with finding a job and having so much debt. 5. The article is unbiased and has lots of facts and statistics...
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