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Tag Archives: student loan debt

Student Loan Money-Don’t Use It To Buy an Iguana

It’s back to school time again. Twenty million Americans attend college each year. Sixty percent of those students will borrow money to help cover expenses. As I’ve mentioned before, you need to decide if your college degree will be worth the money. If you are attending college for the sake of attending and have no clue what you want to do with your life, going into debt with student loan money is a bad idea. If you know your college education is going to further your career or lifestyle, then there’s no shame in having student loans. However, students, you really need to think hard about how you are going to spend that student loan money. Spending student loan money for non-educational expenses will come back to haunt you someday. Check Please! It’s been a while since I’ve been in school, but the loan process worked like this. We had loan disbursement day where you went into a room with a school official who gave you a bill for your tuition and fees. That money got subtracted from your loan amount, and you were handed a check for the balance. This was supposed to pay for housing, books, and other ...

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Debt Movement: Get Rid of Debt Payments Once and For All

Unfortunately debt has become the accepted standard in today’s society. If you don’t have half a dozen revolving credit accounts, a jumbo mortgage, and a couple of new cars, you aren’t living. Debt is so accepted that I’ve known people, self included, who graduated from school and couldn’t wait to start applying for credit so we could fill our lives with the things that everyone tells us we need. Thirteen years later, I have a different view. After years of interest payments, balance transfers, chasing 0% offers, and trying to track when payments were due, I’m done with debt payments. Debt has become a four letter word in our house. Is There A Such Thing as Good Debt? You’ve likely heard the argument that a “good” debt is one that allows you to potentially better yourself in some way. Student loans are good because they allow you to earn more money with a college degree. Mortgage debt is good because you are able to have equity in the place where you live.

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