Student debt is at an all-time high. Campus advisors often advise young people to be careful with how much debt they pile up during their college years. As a former college student myself, I can tell you that my college debt is quite substantial. Sure, I have 2 undergraduate degrees (one in Radio-TV and one in Education) and most of a Masters in Psychology to prove it, but it still costs me every single month. 

I do use my degrees though and they have allowed me to command more for what I do than if I had not gotten the degrees. So if you are training for something that pays well, it may be worth it. 

The key is that you should never take out more debt than you can reasonably handle. Student loans and private loans are often easy to obtain but hard to pay back later. 

Regarding student credit cards, you may think this is just another way to get into debt. But there are some ways that you can use these to your advantage. Check out the short list below and think about what you might do with your credit cards as you are going to school. 

  • Use the credit to purchase tools of your trade
  • Invest in stocks
  • Use some of the credit to start a business
  • Buy raw materials to build something
  • Pay off other debt with higher interest

These are some ideas we got when thinking about how to wisely use credit. Credit does not have to be an empty hole that you pour money down only to get further into debt. If you use your available credit in a positive way, you may be able to build some sort of nest egg that you can fall back on once you launch your career after college. The Discover Student credit card and others like American Express and Visa Card offer ways for students in college to obtain credit when they do not yet have a credit rating. 

It is the wise college student who looks beyond their school days to create a vision of yourself beyond the four or five years you are in academia. Academics are not the goal. They are the vehicle you can use to build something, create something, and start your own business or adventure. 

Don’t let others lead your life plan. Build it yourself by using all of the resources you have available to show what you can be!