Teaching a Teen About Credit #7 - Loans For College

Saving up for college is a big deal, not only becausefirst understand why it is so important. You are talking
college is important but because it can teach you theout loans to help pay for college so you can get a
value and important lessons of finance. There is a lotdegree and a well paying job in a field you want to
of work that has to be done if you intend to pay forwork in. Well what many people would be shocked to
college without a scholarship, and that work beginsknow is that over 40% of companies now check
when you are in high school. A job will help but younumbers as part of their application process. Because
need much more, including building your credit score.so many people have graduated and have degrees,
Many college loans will not charge you the samecompanies, especially ones that have jobs which
interest rates and finance charges that you would getinclude; accounting, budgeting, bookkeeping, cash
charged for a car or home loan or a credit card.handling, and other financial responsibilities, use your
However, it is still important to learn the value of anumber to determine if you are capable and more
good score and be able to use it when you need it.importantly, responsible enough for the job. If you have
Things like computers, apartments, car loans and cara low score you can fix that fast with credit repair,
insurance may not be part of the educational loans, butand avoid missing out on all the benefits. Credit repair is
they are all things you will need. A good score cana fast and effective process that fixes your score in
influence those and help you to save a lot of money.weeks, not months or even longer.
To appreciate the value of your number you have to