FP week 5 assignment

FP week 5 assignment - relationship problems. I plan on...

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Some consequences of borrowing to much debt is having to pay a lot of money in interest, difficulty in keeping up with payments, bankruptcy, 1/3 of your credit score is how much credit you have. Owing money on several accounts will result in a lower credit score. Lower credit score means you will have a hard time getting approved for certain types of loans, or credit cards. Being in debt can affect how you feel about yourself. Being in debt also causes stress. Too much stress can make you physically ill. Stress can also cause problems with your ability to sleep. Having a lot of debt can also lead to
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Unformatted text preview: relationship problems. I plan on repaying my student loan as soon as possible. Once I complete my degree I plan to return to a job I enjoy. Upon completing my degree I will be eligible for a pay increase as well as a higher position. One thing I can do to ensure I keep my student loans under control is by remembering that the money I borrow now will have to be paid back. As long as I keep this in mind, I will keep my student loan amount under control. I do not like to owe money to anyone. I plan to pay my student loans off as quickly as possible so that I do not have this debt for too many years....
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