Total student debt at graduation target no more than

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Unformatted text preview: ts/College Debt 33% of all US college students graduate 33% debt free debt At UCF, 49% graduate debt free UCF student’s average debt load is 25% UCF lower than the national average lower Florida tuition levels are among the Florida lowest in the country lowest 17 How Much Should I Borrow? Total student debt at graduation Target no more than 50% of your starting Target salary salary Education major making $30,000 = $15,000 of Education student loans student Engineer major making $60,000 = $30,000 Make up difference with part time work Focus on internships/experience in your major Improves your resume and increases the Improves chances of getting a job chances Good grades AND experience will land a job 18 Choosing Credit Cards Bank card with small credit Avoid fees, get grace period MasterCard Use national brand if rate better Pay promptly to avoid interest Watch fees for exceeding credit limit Beware of easy credit offers, 900 tele.#, or cards from credit repair clinics If credit is bad, use savings as backup Avoid minimum monthly payment trap 19 College Credit Cards Don’t be lured by free stuff Piggy back on your parent’s card MasterCard Most students will need parental signature Know your credit limits, don’t let bank arbitrarily increase limits Remember, promotional rates are temporary Watch out for penalties and unnecessary fees Spenders should consider a debit card instead 20 Protecting Yo...
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