Education Should Not Automatically Mean Long Term Debt

Cartoon of Making MoneyIt costs money to get a college education. Ordinary people looking for good qualifications as a means to a better future career usually finish their education in debt as the price they pay for their ambitions. They regularly have a student loan to pay off though the terms and conditions of such loans ensure that their repayment is usually manageable. Students who also have credit card debt need to pay a minimum each month on any outstanding balance. It will inevitably be at a relatively high rate of interest and if the student can only afford to pay the minimum required each month then the balance will not fall significantly. Further action is needed to reduce or better still eradicate the debt. Those that start out on a career and have a regular income can get personal loans from online lenders as long as their income justifies the application.

Address Your Financial Problems

As people work through their twenties there are more and more calls on their income, ranging from rent to automobiles to possibly a deposit for real estate, the costs of a wedding and even starting a family. The sooner they address any problems with money that they are carrying forward from their student days the better. Interest rates are currently low and although a rate rise is anticipated in the next few months that should not be a problem when it comes to affordability.


If you see yourself in this situation then you should act rather than carry balances forward and pay too much interest. If only you had done what one enterprising Michigan student has done to reduce his spending while completing his education you might ask? Christopher Cerk obviously needed somewhere to live during his education and immediately began to dislike living on the campus; he disliked paying rent even more. His solution was to build himself a small portable house using solar power and with a compost toilet. It is saving him $800 a month in rent!

Christopher is a computer science major and built a 170 square foot hut in his spare time at a cost of $1300 for materials. It took him a year to build but it will save him a considerable amount of money over the remaining period of his course; he began in his junior year. He can generate enough energy for his smart phone and laptop as well as the usual domestic needs.

He makes no claim to having any particular skills and watched YouTube to help him along the way. He built the hut at home and transported it to a place near to campus where a friendly landowner provides water. Local housing laws could have been an obstacle so he is not divulging the exact location where the hut is situated, and once he finishes his education he will take it elsewhere.

He has just started to live in the hut and accepts he is uncertain how he will manage in this winter though he has a propane heater. He can use the campus buildings as he wishes and will perhaps spend more time there in the cold weather even though he will be sleeping in his self-build home.

Part Time Alternatives

Christopher has certainly come up with a unique way to help his finances through college. It is more usual to see students look for part time jobs to increase their income to help pay their bills. Certainly it is important for students to do something rather than rely purely on loans and their credit cards because there will come a time in the future when the money has to be repaid. With the recession over perhaps there are more chances for part time employment for students but few will be able to match what Chris has achieved.

There are many entrepreneurs who have achieved great things without a formal college education. When it comes to Christopher he certainly has imagination and determination. Time will tell how he does in life but even at a relatively young age he seems to appreciate the need to look after his money. That is a lesson to every student and those that act to reduce their debts as they start out on careers have taken a positive step towards their future.

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