Are You Ready for the Challenge?
Going to college can be an exciting time, full of opportunity and freedom, especially if you are planning to live away from home for the first time. Aside from managing your academic life, part of the challenge of being on your own is learning to manage your expenses: to live within your means, however limited they may be; and to borrow and use credit wisely. This publication covers the following important points that can help you meet the challenge of borrowing and using credit responsibly:
- Loans and other forms of credit must be repaid, usually with interest and other charges.
- You may be able to choose some of the terms of your repayment; and your choices will impact the total amount you will repay.
- Budgeting can help you make wise decisions and achieve your goals.
- Credit cards are convenient, but they must be used cautiously.