Categories: Business

College And Credit Cards – Combine Them And Save

Let’s have a closer look at why it would be a good idea to combine credit cards and college. Most people don’t attend a higher learning institution “in a vacuum”, as it were. Indeed, there are few scenarios where this would be ideal. When it comes to education, a great quotient of that which is learned pertains directly to the collateral lessons.

When you’re going to school at a college or university for the first time, you’re likely going to be living on your own for the first time as well. Whether in a college or dormitory, there is an adjustment to be made psychologically and monetarily. You have to learn to deal with people, and in a quasi-adult way that will develop.

Then you’ve got the politics which naturally suffuse a collegiate atmosphere, the involved debates, the necessity of obtaining employment during and bracketing your collegiate career, and the necessity of balancing access to substances and activities previously inaccessible against responsibility.

Learning And Education

There’s an old saying that goes something like “don’t let school end up restricting what you learn”. What this saying means is that when it comes to college, that which you absorb in the classroom is in reality only a small portion of your overall education. [pullquote]For a well-rounded education, you’ve got to get out of the study hall.[/pullquote]

How much time do you spend “in the real world” crunching the books? Little to none. So what this ultimately means is that you’re going to be on a tight budget, and you’ll be spending money. That said, many college students also use credit cards for the first time while they’re at college.

They’ll have collegiate loans, and they’ll have credit card debt. Oftentimes those students will try to pay off these differing charges in differing ways. There’s a great lesson here which is worth almost as much – or even much more than – many collegiate educations. Financial real-world learning is certainly superior to poli-sci! Learning how to manage your credit cards are essential for a successful lifestyle.

The Combination

As it turns out, you can actually consolidate student loan debt and credit card debt such that both expenses are combined into a single payment that you reduce incrementally over time.

There are many benefits of consolidating student loan with credit card debt; there’s motive too – as ConsolidateStudent.Loan points out: “With the economy in its current state, many individuals who have outstanding state and federal loans are falling behind or defaulting on their payment plans.”

When such dire circumstances are at play, it’s integral to pinch every penny possible. To that end, consolidated debt can sometimes reduce interest expenses. This means the debt can be paid off more quickly. The more expediently you can pay off your debt, the more quickly you can get on with your life.

Let’s be realistic: you’re probably not going to do anything with that communications degree, that philosophy degree, that theater degree, or that music degree. Even your business degree may be spurious, except for where finances were concerned. But if at least you can learn to manage money, that’s important.

Getting Your Head Around Adult Financing

Look into the options available to you as regards debt. You want to determine where you can save, where you can manage, what must be prioritized, and how to get out from under the crushing thumb of money that is owed to a creditor of some variety. The likelihood is, you’ll be dealing with such difficulties more than once.

So, as the sentiment goes, don’t let the thrust of school interfere with the real-life learning which silhouettes it. To that end, college is a perfect time to take charge of your finances and learn what responsible money handling, as well as managing your credit cards is all about.