Dealing with student debt
Student debt: Two of the most dreadful words that any college student has ever heard, especially when they are solely responsible for it.
Paying for school on your own is not an easy task, but it is something that many college students have to face.
“To save money, you can do creative things like take back bottles and sell clothes that you don’t wear anymore,” said Sydney Woll, theater arts major at Eastern Michigan University.
Whether you are waiting tables, working retail or picking up shifts at an on-campus job, it is important to save as much as you can.
Lindsay Sammons, a speech and pathology major at EMU, works as a nanny in order to help pay for her education.
“Work. Work to pay off your loans as soon as possible,” said Sammons.
It is a good idea to set up a safe place for your savings so that when it comes time to pay on your student loans you do not have to freak out and beg your parents for money.
“When you get your paycheck, put away most of it into a savings account,” said Sammons.
If you are a full-time student, then it can be hard to work a lot of hours during the school year. However, it can pay off to work on weekends and then work more hours over the summer.
Students can also be tempted to blow their school refunds on things such as clothes, shoes and travel, but the more that you spend the more you will have to pay back later and probably with interest.
“So many people take out much more than they really need in loans and don’t realize how much more they’re going to have to pay back,” said Amanda Mather, EMU accounting major.
Another good way to fund your schooling is applying for scholarships. They are not always easy to get, but the more you do your research and find scholarships that will work for you, the more likely you are to win some.
EMU has all different scholarships offered through each department. If you need financial advice about paying for school then visit the EMU Financial Aid Office at 403 Pierce Hall.