Tag Archives: college students

Finance

The Do’s And Don’ts Of Covering Student Loans, With Bob Jain

Once you graduate from college, it’s your responsibility for paying off the student loans you’ve previously taken out. For many students, this is a challenge, especially if they’re not adequately prepared for what payments entail. However, there are ways that you can make these payments without much trouble. Here are just a few of the do’s & don’ts of paying student loans that the likes of Bob Jain can tell you about.

DO cover your student loans sooner. One of the reasons why this should be done – and companies such as Bob Jain Credit Suisse will agree – is that you don’t have to worry as much about interest. For those who don’t know, interest has to be paid on top of the actual monthly payments, which adds up over the course of time. The sooner you make the payments in question, the less that you have to concern yourself with interest rates.

DON’T pay the smallest loans first. Let’s say that you have multiple loans to cover; you might want to know which ones to cover first. Instead of starting with the smallest ones, why not focus more so on the larger ones? After all, these will have the bigger interest rates mentioned earlier, which means that you’ll eventually pay less later on down the road. It might seem easy to pay off the smallest amounts first, but it’s not in your best interest to do so.

DO look into part-time work. It’s not uncommon for college students to have jobs. One of the reasons for this is that students require money, which is gained through jobs like cashiering, waiting tables, and the like. As students continually build their bank accounts, they’ll be better able to pay off their loans in the future. According to the likes of Bob Jain CS, this is a great way to help students learn about responsibility, which goes into adulthood as well.

DON’T forget to make even one payment. To say that missing payments is troublesome would be an understatement, even if only one is overlooked. One of the reasons for this is that your reputation falls in the financial sense. If you’d like to apply for a bank loan, for instance, it might be tougher to get approved for it. This is one of the many reasons why you should make your student loan payments on time.

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Money

Bob Jain: 3 Common Money Missteps College Students Should Know

In college, there are many things that your attention is going to be focused on. Along with your studies and social life, money is going to be the most noticeable, which I’m sure the likes of Bob Jain can attest. With that said, you should know that some mistakes are more commonly made than others. In order to make smarter choices, resulting in a stronger bank account on your end, here are 3 of the mistakes in question that you should avoid.

In order to discuss the common financial missteps for college students to avoid, credit cards should be discussed at the onset. Keep in mind that no matter how convenient credit cards might be, they can rack up sizable debt if you’re not careful. This is especially true for those who borrow money in order to cover payments related to school. In any event, companies the likes of Bob Jain CS will tell you that moderation matters for credit.

There’s also the possibility of spending more money on textbooks than you might actually have to. After all, you do not have to break the bank purchasing books for your courses, since there are alternatives to look to. Different websites exist to sell used textbooks, so look into these locations. Maybe another student is offering their books at lower rates. Whatever the case may be, Bobby Jain CS can tell you about the various options out there.

Lastly, you should be aware of any fees that you might have to cover in the future. Let’s say that you have a credit card you like to use more than the others; you’re probably going to have to cover interest rates over the course of time. Even going to a random ATM to withdraw money might require you to pay a service fee, no matter how small it might seem on its own. What this means is that being financially stable will require you to keep said fees in mind.

As you can see, there are quite a few financial decisions that college students can make for the worse. This doesn’t necessarily mean that college should be avoided, since it prove to be one of the most rewarding experiences in the world. The best way to get the most out of said experience, though, is by reducing stress on your end. You can go about this by saving money, so make sure that these talking points are kept in mind for the future.

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