The 8 rules of a sorted student
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1. Borrow only what you need The more you borrow, the more you have to pay back. |
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2. Explore other sources of money Is there some other form of income out there that will help you reduce the amount you borrow? |
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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 and any interest you may be charged. |
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4. 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. |
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5. Understand your repayment options Pay back just the minimum or get rid of your loan sooner? It's up to you. |
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6. Know your obligations Be aware that student loans won't go away and you can't get out of them. |
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7. Do a budget Knowing exactly where your money is going is the first step toward controlling your spending. |
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8. Avoid high-interest debt Credit cards and personal loans can be very expensive. |
Money paid in return for the use of money. If the bank is using your money (in a savings account) they pay you interest. If you are using the bank's money (via a loan), you pay the bank money.
User Comments Last post by Anonymous at 10:19 am on February 19, 2009
Praise for sorted.org.nz
this is a really handy site and being a student at Otago uni i use it regularly to manage my money and finances. keep up the good work guys! peace out! Meow!
Hannah :-)