College can be a great time, but it also comes with many kinds of stressors. One of the main stresses as a college student can be finances. Paying for college can be a difficult task to navigate and understand. Borrowing money to pay for college can be the first type of debt young adults experience and is often scary.
A resource has been developed to help students understand debt and learn how to navigate this financial problem. SDSU Extension produced the Debt video on YouTube. This video explains debt and provides tips for managing debt.
Understanding debt will help you better manage the amount you borrow. The more you know about debt, the better decision you will make. The main idea to remember is how you will repay the money you have borrowed. The video discusses consumer debt, student loan debt, bad debt, how to determine how much to borrow as a student, and how to reduce your loan balance .
Paying for college shouldn’t be a big burden because it can be managed. Understanding your debt doesn’t have to be an overwhelming task. For more information on debt and finance, visit extension.sdstate.edu. If you find that debt has become a problem, contact Lorna Wounded Head, Certified Financial Advisor, [email protected] for tips and strategies to help you in your situation.