College Debt is Worse Than You Thought (But You Can Beat It)

Summer! Done with high school forever! Now it’s long days of sunshine, getting tan…and preparing for college. What’s the top worry on your mind? Did you say debt? If you didn’t, maybe you should.

Most students already know that college debt is a problem, but here’s exactly how bad: For the graduating class of 2016, the student loan debt is close to $37,000 per student. This class is out there right now, trying to make their way in a competitive job arena while saddled with tremendous debt. Not easy.

Other side effects of debt include damaged credit, garnished wages, and even health problems. Yes, studies have shown that mental and physical illnesses can result from being in deep debt.

But this is not a hopeless story. College is expensive, but that’s out of your hands. Here’s what you CAN do. Learn from the mistakes of other students! Think about these common errors:

1) Investing in the education for a career that either doesn’t offer wages high enough for you to easily pay back your loans, or isn’t growing enough to offer a good chance of getting hired. Think of psychology and law degrees. Too many students major in psychology by default, completely unaware that their future career generally doesn’t offer amazing salaries, while law students don’t realize schools are producing twice as many law graduates as the job market needs.

2) Signing up for classes you don’t enjoy, so when the going gets tough, you slow down or quit altogether, leaving you with debt but no degree.

3) Changing your mind about what you want to study so many times that you’re in school for six years or more and STILL have no degree to show for it.

Don’t make those mistakes. Be prepared and informed! But how? Part of being prepared is knowing who you are and what skills you have. Get to know yourself. What do you want to do? What career would you actually love? How much college do you need to get ready for this career? Maybe a two-year associate degree is enough, or maybe you need to go for a bachelor’s degree or master’s.

After getting to know yourself and what you want to do, get to know colleges, degrees, and cost. Compare like a fiend. Research will help you determine how much your dream education will cost and whether you can afford it.

And finally, the exciting news: Find Your Calling helps you do all of this. First we help you determine your strengths in order to discover career options that match. We then provide you with a list of colleges and programs that will help get you ready for your favorite careers, and give you all the information you need to make a wise decision: the cost of tuition, how much debt you could get into, how quickly you can pay it off—and more!

So debt is real, but debt is not unbeatable. Let us help you get informed and choose the right career, the right program, and the right college for you. Take our two-minute Discovery Questionnaire to get started!

Contact FYC at rob@findyourcalling.com

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