Whether you are just starting college or graduate school or if you are leaving college to start a new career, you will be facing new financial challenges. If borrowing is or has been a part of your financial history, you may want to educate yourself about the consequences of excessive debt, the rights and responsibilities of a borrower and of managing finances while in school, and after graduation. Excessive debt comes from wanting, and getting, everything now . Debt obligates your future income.
Debt can be expensive.
Interest payments on debt work against you. Similar statistics for graduate students were higher. Solutions Develop a financial plan, or budget, to balance spending with income. Protect your access to future credit by maintaining a good credit history. Learn to use financial tools such as bank accounts, ATM cards, and debit cards to manage your money effectively.