sigs Rep Points:
505
Posted on
November 6, 2007
at
2:30 pm
Am just worried about the current debt situation.Two of my cousins will start going to university within a year. What can we do to prevent them accumulating large debts during university ?
Posted on
November 6, 2007
at
2:30 pm
maybye you need to check the rule of the university and mostly ,control yourself...
Posted on
November 6, 2007
at
2:30 pm
[QUOTE=sigs;729]Am just worried about the current debt situation.Two of my cousins will start going to university within a year. What can we do to prevent them accumulating large debts during university ?[/QUOTE]
Tell them to stay away from the credit card companies that are allowed free reign to market to students on campus. A free t-shirt or lunch may seem like a good idea at first, but you will pay for it later when the cards start rolling in. See my debt story thread here
http://forum.destroydebt.com/your-debt-story/99-another-day-another-debt-story.html
for more info.
Posted on
November 6, 2007
at
2:30 pm
When I was in school I got as a job first to help pay for things in college. I was a bit busy but was glad I had the extra money to pay for things. If you get a credit card I would get a student one with a low limit. Like $500 that way you can use it for stuff but you won't have massive debt.
bono Rep Points:
150
Posted on
November 6, 2007
at
2:30 pm
True, let them steer away of credit cards and encourage them to have a job on the side that wont take much of their time but will give them the opportunity to earn a little money.
Posted on
November 6, 2007
at
2:30 pm
[QUOTE=bellagirl;954]what about a cosigned one with the parent so there is someone overshadowing the account and making sure it doesnt get out of control?[/QUOTE]
When you are in college you don't need a parent to cosign for a card. What is to stop the student for applying for the cards themselves when they see all of their friends get multiple cards?
Posted on
November 6, 2007
at
2:30 pm
My youngest son is in college (third year). He has no credit card. He works on weekends. He has direct deposit, but he has a debit card. He is able to check his balance on the net. He is always looking for scholarships to help out with his expenses. There are a lot of activities that go on at the campuses that offer free t-shirt, and food. He takes advantage of all that. So far he is doing quite well.
Posted on
November 6, 2007
at
2:30 pm
[QUOTE=vicdo2;1527]My youngest son is in college (third year). He has no credit card. He works on weekends. He has direct deposit, but he has a debit card. He is able to check his balance on the net. He is always looking for scholarships to help out with his expenses. There are a lot of activities that go on at the campuses that offer free t-shirt, and food. He takes advantage of all that. So far he is doing quite well.[/QUOTE]
You should probably check with him and make sure he isn't filling out credit card applications for those free t-shirts and food.
sigs Rep Points:
505
Posted on
November 6, 2007
at
2:30 pm
what do you think that prepaid credit cards or debit cards will help in this case. they wont be able to go over their limit in this case.
Posted on
November 6, 2007
at
2:30 pm
[QUOTE=Mirer14;1533]You should probably check with him and make sure he isn't filling out credit card applications for those free t-shirts and food.[/QUOTE]
My son is at home over the Easter break. He did say the first year that he was filling out credit card applications. After that he was going to different events that offered free t-shirts. The pizza parties were for different events at sororities or fraternities.
