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Student loan consolidation: look this gift horse in the mouth.

Author: robert | Posted: 25.07.2008 | Views: 40

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Get Life Skills - Not Student Loans

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Student loans? Who needs them? Take charge of your money for therest of your life.

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Part I (This article)

Part II Student loan consolidation has big benefits for losers

Part III Idea beats student loan consolidation and creates awinning mindset.

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You'll never need student loans with these ideas.

1.Grants in place of student loans - no repayments

2. Part time earning decreases student loans

3. Economising (builds life skills) avoids some student loans

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1. Grants - Supreme way to avoid student loans

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A grant is a gift of money that you don't have to repay. Isn't a$50000 grant better than taking out student loans every year forfour or five years? There is a club that keeps its membersabreast of grants that they might use. You can avoid studentloans. These grants aren't confined to education so you aren'tconfined to avoiding student loans. If you get a grant, saveactively to build a nest egg and the right mindset.

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2. Part Time Earning

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There are lots of ways for you to work your way through college.What I like is that they encourage an aggressive "go andget it" mindset. Student loans encourage the "wait forit to come to me" mindset.

I have details of how a teenage girl made a profitable website.She'll never need student loans!

One girl runs dogs. That's right, she runs for half an hour with4 dogs that need lots of exercise, then picks up the next 4 dogs.

Don't lose sight of your target. You want to avoid studentloans, not impress your friends with how much you can spend.

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3. Economising

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I had a grant for University. Fellow students complained theirstudent loans or college grants were too small. I saved moneyfrom the grant by economising.

A dollar saved is four dollars earned. You pay back about twiceas much as you borrow, with money from which the IRS has stolen50%. So each dollar you save avoids earning four.

You can economise on these and have better health.

1. Food

2. Lodgings

3. Health

4. Transport

5. Social life

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1. Food.

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Learn to cook. You're at the mercy of food suppliers until youcan cook. One student got into the news because student loansonly covered tinned dog-food for him to eat. That's tooexpensive! I'm cooking my own food and eating well on about$17per week.

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2.Lodgings

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I can only suggest that you shop around. Remember that $20 savedper week is $1000 saved from your student loans each year evenwithout interest payments.

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3. Health

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The damage you do to your body adds up over your lifetime, soit's a good idea to stay healthy. What has that to do withstudent loans?

It turns out that fast food is bad for your health, and so aremost processed foods, and cooking your own food means that youcan avoid trans-fatty acids, sugar, and all the other thingsthat cause obesity. Curry, broccoli, tomatoes, garlic, brazilnuts, and cabbage among other things fight cancer. And they allmake less demands on student loans.

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4.Transport

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Make enquiries. How much would you save from your student loansby buying a bike instead of a car? Would public transport bebetter? Would walking or running for exercise be even better?How much would it cramp your style for dating?

Remember, buying a car with a student loan involves not onlyrepayments, but fuel and oil, repairs, licensing, anddepreciation. I travelled 2 hrs/day on my pushbike gettingexercise and no college loans.

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5. Social Life

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Look for free pastimes. If your friends aren't interested inways to avoid college loans perhaps you have the wrong friends.

If you finish study at 25 and work till 60 that gives you aworking life of 35 years. So a 25 year student loan takes a bigchunk out of your life, even if you are never unemployed.

And that's before you take out a mortgage!

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Other ways to economise

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Buy second-hand whenever possible - even your textbooks. Clothesfrom the Salvation Army are cheap. Use eBay, but don't buyanything you don't need. My first boss said I'd furnished myhouse for less than he spent on his bedroom. Negotiate -Important for second hand, even more for new goods. When you goin to buy a new fridge, the attendant waits to see if you'restupid enough to pay the price tag, or ask for a discount.

Remember a dollar saved is four dollars in student loans thatyou won't have to pay back.

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