So you’re headed off to college in the fall? As a college freshman, you probably want to think more about majors than money, but the truth is that in just four (or five or six…) years, you’ll have to be thinking about that money thing a whole lot harder. These days, the average college student graduates with $20,000 in student debt.

Much of that comes from so-called “safe” and “cheap” federal student loans, but the truth is, you still have to pay that back! The monthly payment on a $20,000 loan can run you somewhere around $200 a month! That’s a big chunk of change when you’ve just graduated, gotten a new job, and settled into life as an adult.

Today, Valaney from CreditDonkey shares with us her insights she’s gain from helping compare financing options including student credit cards with low apr. Instead of just taking out all the loans you think you need right now, take advice to help you navigate the world of student loans and maybe even get through college without going in the hole.

Student Loan Basics

It’s essential that you actually understand what you’re doing when you’re taking out student loans. Examine interest rates, the payments you’re likely to make, and all the terms you’re agreeing to.

For most federal loans, for instance, you don’t have to start repaying loans until six months after you graduate. But if you take a semester or two off in the middle of your schooling, those rules can change, and you may end up having to pay back the loans while you’re still in school.

Here are some of the basic things to know about student loans:

• Federal loans come in two basic types if you’re applying as a student. (There are also loans for parents, but those are different.) You can get subsidized loans, where the government will pay the interest on the loan until you enter repayment. Or you can get unsubsidized loans, which accrue interest from the get-go. Whenever possible, go with subsidized loans, since they can save you big bucks while you’re in school!
• You apply for federal student loans by filling out the Free Application for Federal Student aid. It should be filled out in your senior year of high school – preferably before the first of March – and every year after. It’s best to do it as soon as you and your parents, if you’re still a dependent, file taxes, since schools will allocate federal funding on a first-come, first-serve basis according to need.
• If you have to have chosen a school whose fees will require you to take out private loans as well as federal loans, rethink your school choice. Unless that’s the only school in the entire world with your major, and unless your major is guaranteed to turn into a lucrative job, it’s just not worth your while! Private loans don’t have forgiveness options, income-based repayment, or the super-low rates you’ll get with federal loans. Choosing a school that’s this far out of your price range is just going to put you in a world of hurt after graduation.
• Make sure you keep all the paperwork for all your loans. If you lose track of a lender, your loan gets shuffled around to a new servicer, or you don’t know exactly how much you have out at any given time, there are ways to figure it out. You can go to the National Student Loan Database to find out about any federal loans you’ve taken out. A copy of your credit report, which you can get for free from each of the three major bureaus once a year, will show you which lenders hold each of your loans so you can get their information.

The key with student loans is to understand what you’re doing. Most of the time, it’s okay to take out a couple of small ones to help with tuition, but if you’re taking out loans for every expense in college, it’s a good idea to rethink your choice, especially if you aren’t practically guaranteed a great job straight out of college!

Staying Out of the Hole

Believe it or not, you really can get an education without actually going into debt. The National Center for Education Statistics actually notes that about 51% of freshmen when to school without taking out federal student loans.

Their parents may have taken out loans, but the students themselves didn’t need to. What are these students doing to stay out of debt when it comes to college?

• Choosing in-state schools. Despite what the advertising for private, for-profit schools says, you really can get a great education at many in-state public universities. They often have all the same majors, as well as a few big bonuses that smaller private institutions don’t offer – such as more class offerings and research opportunities. With the average cost of a private four-year institution running at $37,400 per year and the average cost of state tuition at a four-year college at just $19,300 a year, you can see the difference!
• Getting scholarships. State schools and private schools alike tend to offer great scholarship opportunities to students who did well in high school or on their SATs. If your high school grades weren’t stellar, consider brushing up your SAT score and re-applying for scholarships. Even if you have to sit out a year to make it happen, it could be worth your while. Apply for every scholarship you might remotely qualify for in the meantime, and you might be surprised at what comes through for you.
• Living at home. At most universities, you can cut the cost of college almost in half by not paying room and board. Live at home, and you’ll save money even if you commute to school. In some areas where rent is cheap, you may be able to rent a house or apartment with friends later on, paying rent and other expenses with money from a part-time job. You can still often save money compared with the over-inflated room and board costs at some schools!
• Getting done faster. One interesting thing about tuition is that usually taking twelve credit hours, a full load, or eighteen credit hours costs practically the same thing. You might pay a few hundred extra bucks for two classes, but your basic tuition costs are still going to be the same.By taking extra classes, taking summer classes, which are often more affordable, and graduating in three years, you can save a ton of money!

These are just a few of the ways you can save on your college education. So, find out what you need to know about your student loans, but try your best using these tips to get out of school debt free. You might seem less cool now taking more classes and living off campus, but when you’ve got a job and a great car while all your friends are still paying for student loans, you’ll be the cool one.

              

Quantitative (econometric) economic history also referred to as cliometrics which was well-liked within the 1960s and Seventies argued that the inclusion of history is terribly paramount to formulating substantive economic theory. The twenty first century has however witnessed the closure of the separate programs and has seeded the discipline into either economics or history departments respectively. The study of economic history incorporates business history and financial history and additionally relates to social history in terms of demographics and labor.

Economic History is now considered a kind of applied economics and is taught as a special field part of normal economics Ph.D. programs thus, there’s no specialized graduate program on the discipline.

Economic History studies the evolution of the economic phenomena from a historical standpoint. The analysis is taken employing a combination of statistical and historical methods and applying economic theories to historical situations. Economic historians argued that the two matters are split into distinct elements which are Economic History (The study of how economic phenomena evolved in the past) and Historical Economics : Testing the generality of economic theory using historical episodes.

Economics may be a compelling force that has helped formed countries and empires as far back as history records. Economic trends have had diverse effects that embody triggering World War Two, the collapse of the Soviet Economy, the democratization of South Korea and Japan and several others. The story of successful economies can not be told with a mention of their respective economic histories.

This explained in lay terms may be an attempt at a distinction between Arts and Science -the previous being primarily an economic history and the latter primarily an economic science. Renowned economic historians have disputed over the separation of economic phenomena and economic theory in the inter-war era. Some propose that the 2 things were inseparable since, pure economics involved a vital part of economic history. Others believe that the study of Economic History, that has research and tutorial branches, ought to be separated from mainstream economics.

I recommend reading A Concise Economic History of the World: From Paleolithic Times to the Present as one of your major resource for more details and understanding on the Economic History.

              

With college graduation comes blowout parties, congratulatory cards, excitement, and the onset of “real world” panic. While a college education provides young adults with the knowledge and know-how to survive in the professional world, it also harbors massive debt and real world anxiety. Stepping out into the world with a college diploma, massive student debt looming over your shoulders, and a job hunt to begin can seem like a daunting task. Though managing student loans is never fun, it does not have to be difficult or stress inducing. Follow these tips and tricks to student loans to ease the post college graduation panic.

Prepay Your Loan

Many individuals chose to lower their monthly student-loan payments early on. One way to do this is to consolidate your loan and another way is to extend your repayment. While these two options can offer some short-term relief, they may reap long-term problems. Extending your repayment means that you will be making payments over a longer period of time and therefore will be paying more interest. At times extension is necessary, but if possible it can be financially beneficial to hold off.

Ideally, you should attempt to make the suggested monthly payment plus a little extra whenever possible. Even a mere 10 dollars extra a month can make a huge difference and save you a handful in interest charges. If you must take steps to lower your payment, you should try to increase it again at the soonest possible moment.

Pay Attention to the Grace Period

Fresh out of college, young post grads tend to treat things like English 101. By this I mean, we are constantly looking for extensions on “assignments” and procrastinating as long as we possibly can. While getting away with this student mentality works for some things, it can be disastrous when applied to student loans. Pay close attention to when your grace period ends on your student loans. While some borrowers expect their first student loan payment before your first real world paycheck, others give you a six month or so grace period. Be mindful of when this grace period is up and consider not procrastinating for once.

Consolidate Carefully

Though this header kind of nails it on the head, I’ll go into more detail. Consolidating your loans may be the thing to do depending on your situation. Whether it is or is not the route you need to take, considering it carefully is essential. With such high rates, there is less incentive to consolidate your loans this year. Consolidation does mean that you only have to keep track of one payment to one lender as opposed to keeping track of four different payments and four different lenders. So, evaluate your situation and your way of dealing with things.

If you think that you will significantly benefit from having only one thing to keep track of then take that route. However, be mindful of fixed-rate loans. With fixed-rates, consolidating may not work to your advantage. Do your research. Consider both what is better for you financially and what is better for you personally.

While student debt is a stressful matter, you are fully equipped to manage it. Take things in stride. Make careful and educated decisions. Post grad life is never as glamorous as you once thought it might be, but it is a time for excitement and growth. Take your college degree and make something of yourself.

Mariana Ashley is a freelance writer who particularly enjoys writing about online colleges. She loves receiving reader feedback, which can be directed to mariana.ashley031 @gmail.com.

              

Believe it or not, an estimated 65 percent of recent college graduates are burdened by student loans according to a recent study by the National Center for Education Statistics. And you might be one of them.

Are you currently using your student loans? Take a look at this as important matter because loans can burden you far than you expected. I’ve discussed this matter with some of my seniors and they gave a few tips that I want to share with you.

Here are some basic ideas on how to wipe out your student loans.

A Budget Plan

Create a budget plan for yourself. Know your expenses daily, weekly, monthly and even yearly within your study period. Put limitation on yourself for example 20USD per day and not more than that. Determine how much that you need for fees and etc. Make sure that you stick to your plan or your plan will be useless!

Save Earlier

The most exciting moment when we are studying is when the loans come in, right? And then we tend to spend it for a lot of things including things that supposedly not in our list. Instead of using all of them, why not we save some for the future? Do this – every time the loans come into your account, withdraw a portion of them around 30% – 50% and put them into another savings which can give you higher dividend.

You can search over the Internet or get recommendation from your friend on which bank can give you higher dividend. And at the time fro repayment, you can do the savings to pay your loans and you might earn the balance after settling the payment!

Get A Part-Time Job

Getting a part-time job is a good idea if you want to minimize your dependency on your student loans. Instead of using too much of your loans, use your income from your part-time job for your expenses. Get a job based on what you are studying and you have the potential to get the job as students cost cheaper than graduated workers.

You can also get a simple job such as cleaner or waiter which don’t need to much skills as long as you get your income. In this Internet era, you can make money online with various ways such as blogging, freelancing and etc. And don’t forget to save a portion of your income to help you in the future!

How to Wipe Out Your Student Loans and be Debt Free by Martha Maeda is a handy guide for those just going into college and those who are already saddled with student loans. Her book is more about how to responsibly choose loans and ways to reduce interest and make payments easier. Get your copy now!