While in college it's important for students to pay less for their education by not spending on useless things. Based on the study conducted, It has been observed that college students spend more on useless things and the medium they use is in most cases is credit cards. This useless expenditure adds up to their education loan.
Think before you borrow: - It's important for students to think before they borrow. Is is observed that students draw excess amount for living while studying. They must keep in mind that the more they would borrow, the more they will have to repay. Students must know that it's easy to get debt for education but spending it for useless things would cost then heavily in times to come. Students also get in trap of heavy debt by spending on expensive things by spending through credit cards. They must limit the use of credit cards. They must bear in mind that there is not certainty that they would get a highly paid job just after passing out. In most cases it does not happen so it becomes very hard then to repay the debt.
Try for scholarships: - Students can reduce the burden of by trying for scholarships. If they can get some sort for scholarship than it would certainly reduce the burden of debt on them and they can pay less for their education.
Make a financial plan: - Students must make a financial plan. They must identify the sources of income and application of funds. And must follow the financial plan so that they don't spend more and put them in unnecessary debt trap.
