To say that student loans can weigh anyone down would be nothing short of an understatement. Younger individuals seem to struggle the most, in this regard, and their financial knowledge may not be the best. However, this doesn't mean that the common financial mistakes that students make have to be seen. In fact, if you would like to learn about some of the most helpful points that various names - Bob Jain included - can offer, here are 4 that are worth your attention in the long term.
1. MarketWatch posted an article on the matter and one of the first mistakes listed was being under the impression that loans absolutely must be attained. Around 60% of all students, according to the Chronicle of Higher Education, borrow money but what does it say about the other 40% or so that do not? It is easy to assume that they have been able to pay off their tuition's in other ways. Perhaps there is a more inexpensive campus that they decided to go to with more affordable rates.
2. It is likely that Bob Jain will tell students that not all funds have to be utilized. To clarify, if you are given a certain amount of money - on a yearly basis, mind you - in order to cover school, chances are that you may not need all of it. One of the downsides of a surplus, though, is that it's very easy for the money given to be used to cover other purposes. In order to keep yourself financially solvent, authorities such as Jain will stress to take only what is required.
3. Debt is one of the most serious aspects of life that students may have trouble focusing on. Keep in mind that students typically have more to concern themselves with than academic studies, as important as said studies are. However, if you would like to approach debt with a clearer mindset, it's recommended that you keep all of the papers, which list your records, on hand. If you are able to do this, you may find that focusing on debt, in general, will be a surprisingly easier endeavor.
4. Many students may not understand the differences between federal and private loans. MarketWatch reported on the matter and said that federal loans are the ones that students should look to first, seeing as how they are more flexible and bear lower interest rates overall. For many individuals, this is the option that helps the most. However, for those who are still interested in adopting private loans, research the matter further in order to see they are ones that you would like to progress with.
1. MarketWatch posted an article on the matter and one of the first mistakes listed was being under the impression that loans absolutely must be attained. Around 60% of all students, according to the Chronicle of Higher Education, borrow money but what does it say about the other 40% or so that do not? It is easy to assume that they have been able to pay off their tuition's in other ways. Perhaps there is a more inexpensive campus that they decided to go to with more affordable rates.
2. It is likely that Bob Jain will tell students that not all funds have to be utilized. To clarify, if you are given a certain amount of money - on a yearly basis, mind you - in order to cover school, chances are that you may not need all of it. One of the downsides of a surplus, though, is that it's very easy for the money given to be used to cover other purposes. In order to keep yourself financially solvent, authorities such as Jain will stress to take only what is required.
3. Debt is one of the most serious aspects of life that students may have trouble focusing on. Keep in mind that students typically have more to concern themselves with than academic studies, as important as said studies are. However, if you would like to approach debt with a clearer mindset, it's recommended that you keep all of the papers, which list your records, on hand. If you are able to do this, you may find that focusing on debt, in general, will be a surprisingly easier endeavor.
4. Many students may not understand the differences between federal and private loans. MarketWatch reported on the matter and said that federal loans are the ones that students should look to first, seeing as how they are more flexible and bear lower interest rates overall. For many individuals, this is the option that helps the most. However, for those who are still interested in adopting private loans, research the matter further in order to see they are ones that you would like to progress with.
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