Bryana M. – Bell Gardens High School

Remaining Debt Free

Is it really worth being in debt for life or working hard throughout college. Most cases student take out loan because they can be necessary and useful. Although what many do not realize is that they can be life changing and really become a pain in your life. Others deal with loans for a new car, or a house payment. These are more important factors to deal with but there are safer ways to go by. There are a few ways young adults can overcome their economic struggle without being in debt.

Young adults in high school who are moving on to college need the money. The problem is that they can be very stubborn about what to do with it or how to even receive any in the first place. Student loans are available, but it is something that you don’t want to do because that debt stays with you your entire life and does not go away until you finish paying it off. An example of this is when my Anatomy teacher shared a personal experience with my class saying that her husband loaned out money from the bank for his college tuition but stayed in debt for 10 years. The problem is that even though you have a college degree, it does not guarantee a good paying job. Which is what makes it difficult for the loaners to pay off their debt since the bank starts charging more. This made the debt go up by three times the original amount and it took them 10 years to pay it off. A way to avoid this issue would be to earn money through hard work, yes it will be tiring but at the end you will not have to worry about all the money you have to pay back.

Working while going to school is very common these days and many people do not complain. It can benefit you by giving you the experience in working customers, it can also help you receive different types of jobs, and can make you earn more money than what your first job would pay you. Knowing how to manage your time and money is crucial, and people have to be aware of the differences between wants and needs. A car does not necessarily have to be new, all you need is something to get you from place to place. A tip of advice would be to manage your life and keep working hard until you accomplish your goal.

An advantage that we young adults entering college is that most of us qualify for Federal Student Aid which is free money for college and Cal grants that you do not have to pay back. Many students at my high school do qualify for these programs which is a great way to save up money and remain debt free. A good plan would be to work while going to school so that, that income can be used for yourself. Federal student aid come every semester so it is a good way to learn have saved that up for when you really need it. Creating a bank account is important because you want to start building credit so by the time come when you want to pay for a house or an apartment you are eligible. Banks can be tricky but as long as you are always updated on the information you will be fine. Make sure to make all your payments like a phone bill and make sure to stay on track and make those payments, this way interest rates won’t go higher and you will pay off quicker and earn credit. Be smart with your money, and make sure to accomplish your goal before you actually do decide to be in debt, this way it will make things a whole lot easier.

In conclusion, remaining debt free is crucial in your early stages in life. Manage your time, your money and make beneficial decisions. Keep working hard, otherwise you will be hardly working and will never run out of that. Be smart and take advantage of help when it is offered to you. Debts can ruin your life, they can take away almost everything you owe and what you already own. Do not let that handle you, you handle how your life goes.