5 Ways to Overcome Financial Hurdles in Commuinity College

by Chad Agrawal

The financial stress of attending college is greater now than it has been in a very long time. Also, because of a weak job market, many recent graduates are having a hard time finding a decent job. But even though times are tougher than they have been, you can still overcome financial barriers and get a degree that leads to a successful career.

For those of you who are interested in transferring to Ivy League universities from community college and saving about $50,000 in tuition, read the following page:

How To Be A Top Student At Community College

Otherwise, here are five useful tips that can help you come out of college with minimal financial damage.

1. Learn about your options

Unless you are taking accounting or finance courses in community college or university, you will probably not learn the basics about personal finance. Financial illiteracy is a common problem with many community college transfer students, especially those in their first couple years of college. If you want to overcome financial hurdles in college you should educate yourself about things like keeping a budget, managing debt & credit, and paying off student loans. It is critical that you pay attention to your finances in college because ignoring them could result in having a heavy financial burden after you graduate, especially if you're transferring to Ivy League from community college.

2. Consider Identity Theft Protection

Having your identity stolen can cost you a lot of money and throw a wrench into your financial plans. If you don't want to waste your college fund on repairing the damages left after fraud or identity theft, monitor your credit often to make sure nobody is opening new accounts in your name or using your existing accounts to make purchases. If you don't want to worry about constantly checking your credit you can get identity theft protection from Lifelock, a protection company that offers proactive protection and monitors your account for suspicious activity. Their identity theft protection starts at under $10 a month and gives you the peace of mind that your finances are safe.

3. Have a Financial Plan

You're an adult now and so you've got finances. Now it's important to have a plan. According to an article featured at Financial-planning.com, those who have a financial plan in place are better off financially than those who don't. The article refers to a survey conducted by the CFP Board and Consumer Federation of America in which it was reported that 48% people who have a financial plan "describe themselves as living comfortably" while only 22% of those who don't have a plan feel that they live comfortably. Due to recent economic woes, financial planning has become more important than ever for both the wealthy and poor alike.

4. Consider a More Affordable School

Some colleges are so expensive that no matter what job you get you will still have a very difficult time paying off your huge student loans. In an article at Sfgate.com, attorney Shane Fischer said "If I knew then what I know now, I wouldn't have gone to an expensive private school and would have opted for the less prestigious public school." The downturn in the economy also makes going to a cheaper school much more attractive and reasonable for students. As a student, you should also keep in mind that attending a prestigious school does not automatically guarantee you a high income after you graduate.

However, transferring to Ivy League can save you $50,000 in college tuition.

5. Invest After College

Often people think that investments should bring instant profits, but this is not always the case. When investing, young adults should think more about long-term investments than short-term payoffs. Also consider that although the stock market has been down in recent years, it has still made money over the long haul. So if you decide to invest, look for companies that have good long-term potential. You may also want to consider investing in other things like physical gold or food storage if you can.

An internship is one form of investment. Even if the internship isn't a paying one at first, it will offer you experience for the long-term benefit and you will have experience to add to your resume and references for future career searches.

The best investment you can make is to invest in yourself and your academics.

Click Here to learn about my step-by-step guide on how to be the top student at your community college and transfer to top universities.

This post was written by Chad Agrawal

Chad Agrawal is the founder of CCTS, helping students transfer from community college to Ivy League, tier 1 or anywhere else by following this community college guide.

{ 1 comment… read it below or add one }

Srk October 15, 2012 at 8:13 am

Thanks for your grateful informations, this blogs will be really help for Exam results.


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