With the average cost of college tuition on the rise and student loan debt reaching record highs, it is more important than ever to financially prepare for college. Developing a realistic and manageable budget is a lifelong skill that will be essential to prepare for college, while in school, and even after you graduate from college.
Develop a budget to assess how much you can afford to spend on an education and payment options such as financial aid, scholarships, and loans.
Budgeting in College
If you stick to a budget while in school, you will be less tempted to use credit cards, which are often targeted at college students and graduate with less overall debt.
The day will come (sooner than you might think) when you will need to begin paying back any money borrowed during college. When the time comes, you want to be as prepared as possible so you can still live your life comfortably.