Here you will find articles guiding you through your college finances.
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College Finance Articles
Loan deferment increases interest costs

While students do have the option to defer payment on their loans until after graduation, this may not be financially advisable. You should keep in mind that you will be paying interest on the loan whether you are making payments or not.

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Do you know what college really costs? Find out here!

Between the fees you don’t expect, dorming versus commuting, and financial aid, the simplest way to understand the cost of higher education now is to know this: it varies.  Different factors impact what you’ll be paying out of pocket for your child’s education, including the school’s location, your location, and what you can receive in financial aid.

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How can you avoid student loans? Find out!

Graduating high school is a huge milestone in life because, for many, the next step is college. But when the word college comes to mind, the next thing that may cross your mind is student loans. Loans in general are a common part of life these days. Things like college, cars, and houses are just way too expensive to pay off right away. This is why planning for the future is important.

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Did you know grandparents can help pay for college? Find out how!

Affording college can seem like an impossible task, especially without any help. Student loans can feel overwhelming and the idea of paying them back after graduation can be scary. Family is usually what most students rely on for help before taking out loans and creating a financial burden for themselves. When a child is born their family is typically already planning for his or her educational future. Every family wants their children and grandchildren to go to the best college and get the best education possible.

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What effect do loans have on your credit score?

Once you’re approved to receive a loan, you can generally use the money to pay off bills or to pay for products and services that you want. However, you should be aware that the numbers of loans you have as well as how current the loans are affects your credit score.

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How can you make money in college? Find out!

You can save and make money in college or university whether or not you have a job.  Learning how to manage your finances is key to making money while you’re at school; it’s also a key to making money after you graduate with your degree.

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How well do you manage your college money?

Whether or not your parents send you money to help pay for expenses related to your college or university education and especially if you have a job, the sooner you start managing your money the sooner you can grow your savings.  Developing solid money management skills also helps you to avoid credit card and other forms of financial debt.

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Need some help budgeting your college money? Click here!

Going to college or university doesn’t have to feel like a money crunching time.  Apply a few money budgeting tips to your daily lifestyle and you can not only stretch the money that you do have, you can also find ways to grow your income.

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Need some extra cash in college? Find out what to do!

Years ago students who attended accredited colleges and universities had to wait on their parents to send them spending money before they bought tickets to concerts or other social or entertainment events.  They also had to limit the numbers of times they went out to eat or caught the bus or drove into town to go shopping for a favorite pair of shoes or an outfit they wanted.  It was either that or go out and get a job so they’d have spending money each week.

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Do you have a savings goal? Find out why you need one!

Create a savings goal while you’re in college or university.  Doing so may help you to cut back on erroneous spending, avoid credit card debt and start to grow your money.  If you create a savings goal now you can also start building your credit and put money aside to pay for your undergraduate and/or graduate college student loans.

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Student loans and credt debt: A lethal combination

If you’ve recently graduated with your high school diploma and have just enrolled in an accredited college or university you have taken a step that may help you to earn higher wages after you graduate with your postsecondary degrees than you would have earned had you only gotten a high school diploma.

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How do you manage your college budget?

As a college student, the sooner you learn to understand your finances, the sooner you may acquire and learn how to use tools to manage your money.  A budget is an effective tool that you can use to keep track of your income, financial aid money you’ve received and your expenses.

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Do you have bad spending habits as a college student?

Never spend more than you have while you’re attending college or university.  By not over spending you may avoid unwanted events and situations such as receiving telephone calls from collection agencies, credit card debt and bank overdraft charges.

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Can you safely manage your credit cards while in college? Find out why this is so important!

The federal Credit Card Act of 2009 prohibits credit card companies from increasing college or university students’ credit card limits without getting approval from the students’ parents.  Colleges and universities are also banned from selling students’ names and contact information to credit card companies.

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How can you save in college? Find out!

You don’t have to work at a high paying job to watch your savings grow while you’re in college or university.  By creating a budget and setting aside a certain portion of your college internship or work/study job income each week you can start to build your savings.

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Do you plan on reselling your textbooks? Find out why you should!

With the price of textbooks today, there is a very good reason for students to consider reselling them when they no longer need them. They only have so much space in their dormitory rooms, and even those who are living off campus or commuting from home probably do not have the space to keep textbooks they no longer need.

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What do you know about student checking accounts?

If you’re heading out to college in the fall, you may want to think about what necessities you should look into.  Opening a student checking and/or savings account is a great way to start your first time away from home as a young adult.  It’s convenient for students and their parents, because you can receive free checks, no monthly fees, and low or no minimum balances.  These pleasing qualities are advantageous when it comes to starting up a young adult’s banking life.

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You can prepare for future loan payments now. Click here to find out how!

As of June 2011 and according to the United States Department of Education, you have a certain amount of time before you have to start paying back your student loans. If you attend college or university on a half or full-time basis, you have up to six months after you graduate with your postsecondary degree to start paying back any Federal Stafford or Federal Family Education loans.

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Your Credit History Starts Now

As a college or university student, you start building your credit history as soon as you make your first purchase on credit. The way that you pay back any loans you took out to fund your college or university degree is also a part of your credit history.

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What do you need to know about scholarships and grants?

Scholarships and grants are great opportunities for helping students fund their educations. Unlike student loans, neither grants nor scholarships have to be repaid. This free money helps to ease the burden that college costs can put on students. Here are a couple of ways that scholarships and grants differ from one another.

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