This is part 2 of the 10 part series, Top Ten Mistakes College Students Make. Today's topic is the mishandling of credit.
Ah, the lure of credit. Credit can seem like a great thing when you don't have any money. Don't fall for the trap. Using credit to pay for items such as the late night pizza run or buying gifts for friends is not a smart use of credit. Remember, any money you borrow will have to be paid back with interest. Too many times students have let credit cards and loans get them in financial trouble, some having to leave school because they were so much in debt. Be smart about the use of credit. Graduate with as little debt as possible because these credit/loan companies will come looking for you after graduation, some even before you receive that diploma. Take debt seriously. Debt used correctly can help but too much debt can be disastrous to your future.
What are your thoughts on this? What do you think is the biggest obstacle facing college students? Please share your thoughts here.