8 tips for sorted students

As the secondary school year draws to a close, many senior students around the country (and their parents!) will be preparing for the big move to tertiary study in 2010.

Most students need to go into debt to some degree to finance their studies, but those who take control from the start are less likely to run into problems.

So now’s a good time to share our 8 tips for sorted students – with links to the relevant pages in our Students section:

1. Do a budget
   Knowing exactly where your money is going is the first step toward controlling your spending.
2. Borrow only what you need
   The more you borrow with a student loan, the more you have to pay back.
3. Know the true cost of your loan
   It's not just the sum you borrow, it's the time it takes to pay off.
4. Understand your repayment options
   Pay back just the minimum or get rid of your loan sooner? It's up to you.
5. Know your obligations
   Be aware that student loans won't go away and you can't get out of them.
6. Explore other sources of money
   Is there some other form of income out there that will help you reduce the amount you borrow?
7. Avoid high-interest debt
   Credit cards and personal loans can be very expensive.
8. Know the value of your qualification
   Putting a dollar value on your earning potential will help you determine if borrowing for your qualification is money well spent.

There’s also some great information about financing studies on the StudyLink website.