Make it Count for Something

Posted on November 3, 2011 by

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Being a student is often a hard job.  On top that, unless you’re a fresh 18 year old student, you have to add work, family, necessities, GAS, FUN, and Leisure expenses in the “college experience”.  You’re not done once you add all of this up either.  Why might you ask?  Only because once you’ve added in all of those things, you’ll still have to add in the compounding beast, who we’ll just call Studen Loans.  Once this is factored into the equation, students are often forced to work while taking on debt on top of debt.  As a student, when it comes to the decision process, there are usually three main choice options:

  1. A.     You’re either a full-time student, who works, and you take the least amount of debt from   the beast, but your overall grades and attitude suffer.
  2. B.     You’re a full-time student, who doesn’t work, and you max the beast out for everything that’s available.  You’re grades are better but in the end ULTIMATE Debt.
  3. C.     You’re a part-time student, who works.  You manage both school and finances equally well; however, it usually seems like you’re in school forever. The ultimate trade-off!

Those three options came right out of my head from what I’ve seen as a student.  However, reading the stats, myself included, leads me to believe that most Americans ultimately choose option B.  The American student loan balance exceeds one Trillion dollars.  That’s Crazy!

USA Today parses through New York Federal Reserve’s latest report
on Household Debt and Credit and finds that for the first time, this year the
amount of student loans will surpass the $100 billion mark and the outstanding
balance will exceed $1 trillion.

                     That means the amount of credit card debtand student debt is about equal, reports the New York Fed. USA Today reports that’s a dangerous prospect, because unlike credit card debt, student loan debt survives bankruptcy:

              The creditrisk falls on young people, who start adult life deeper in debt, A burden that
could place a drag on the economy in the future

As a student, money and finances go hand in hand when deciding what school to choose, on-campus housing vs. off-campus housing, and/or how many classes should I take?  With all of these decisions, and daily life expenses, it’s no wonder why so many have to choose the beast in the end.  As a college student I don’t know what to say except, “If you’re going to take out all of that debt, make it count for something!”  Take it from me, the only thing worse than wasted money………is Wasted TIME!  At the end of the day, I just would like for everyone to remember the famous quote:           “Time waits for no man.”

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