1. Blowing your student loan money!
Instead of using your financial aid for books, tuition, room & board, many students will choose to finance their extravagant lifestyle of partying, clothes, gadgets, and eating out. These school loans you’ve worked so hard to get should be paying for your education, not you social life…so use the money wisely. You’ll be paying them off for many years to come.
2. Credit Card Debt!
Even responsible adults can rack up some hefty credit card debt, but students, who have no viable income besides their school loan money, and what cash mom & dad give them, have no business getting multiple credit cards. This is a recipe for credit disaster, because now students will not only have their school loans to repay when they graduate, but large credit card balances. Nellie May, the largest student loan maker, says that most graduate students have an average of $5800 in credit card debt.
3. Not Paying Your Bills on Time!
Racking up huge credit debt and not paying your bills on time is a good way to ensure that you can’t purchase a car, rent an apartment or even get a cell phone after you...
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