Tuesday, June 23, 2009

How to come out debt free from college

You have finished school and are wondering as to how you will be able to pay for the debt you mounted during your study days. There are many students out there who wonder whether they ever will be able to pay back their dues or not. Take the case of a law school student who had $120,000 in debt and is still trying to figure out whether he will be able to repay the loans and is still questioning whether it was worthy of spending such amount of money on education.

Most of the students tend to panic in such situations as paying back this loan can be daunting in tough times where thousands of people are losing their job each day.

Parents and students don’t need to panic in such situations and should work towards ensuring a debt free life for themselves. One way to get rid of this debt cycle is to own some kind of property which generates income from rent while you are still studying in school and though it may seem difficult at first but parents and students can certainly benefit from it. The good thing is first time buyers will also be able to benefit from the $8,000 tax credit.

So by the time you graduate you will stand apart from the rest as you will be debt free. Think about it!!

No comments:

Post a Comment