College: The Ultimate Life Lesson.

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Panna,  

Victoria P. Panna

Mrs. Fran Pliskin

English 101-27

17 October 2003

College: The Ultimate Life Lesson

        There are many people registered in colleges and universities all over the country, most of these people ranging in age from 18 to 23. Out of this age group, about 39% incur debts exceeding $19,300.00 by the time they graduate college.  If these college students knew simple ways to solve some of their problems, including managing student loan and credit card debts, lack of finances, and time- management difficulties, it may make their time during and after college truly rewarding.

Many students who enroll at a college or university right after high school have little to no credit.  Many credit card companies pry on these young men and women by giving them high credit limits and many incentives to use their cards.  What these young men and women don’t realize is that they are being hit with high interest rates, most exceeding 19%.  Many students put their books, personal living expenses, and other such items on these credit cards.  Not only are these students incurring credit card debts, but they are also being hit with student loans.  Some student loans interest rates can reach as high as 24.99%!  Some loans also appeal to students because they can pull out up to an additional 60% of the initial loan.  What they do not realize at the time is that they are paying one interest rate for the interest rate and a higher interest rate for the additional money they take.  These credit card and student loan advisors never tell these students what the fine lines really read, and a lot of times take advantage of their naïve nature.

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        There are several ways a student can avoid a large sum of debt once they graduate school, if they properly plan before they go to college. One way students can avoid large amounts of debts during and after continuing their education is by is by going to community college.  Community college allows these students to earn up to an associate’s degree, most times taking the same classes they would take at a 4- year institution, for a fraction of the cost.  Community colleges also allow the student to make up their own schedule at their own rate, so they can ...

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