Ways Students Can Build Good Credit

It is the dream of every student to be financially independent at some point especially after concluding their college education. One of the ways of becoming financial independent is building good credit. Building good credit has lots of benefits. They include qualifications for certain jobs, cell phone plans, rental applications, auto insurance, and loans just but to mention a few. This read explores some of the proven ways that the students can use to build good credit.


Authorized users

jhhjhjhjjhwqMost people join the college in their late teenage years. Research has shown that most of the students are usually on an experimenting spree during this period. As a parent, you should ensure that the first credit card that your child has when joining college is yours. You can them make your child an authorized user on your account. This will assist you to track the spending of your college-going teenager. This also helps you child build a good credit score.

Own credit card

Owing a credit card is another method the college students can build credit.You can apply for your credit card if you have income and have proof of the same. A source of revenue and evidence of the same is one of the requirements needed for an individual to be issued with a credit card. Once you receive a credit card under your name, you should use it responsibly. You must understand that the duty of repaying the debts that you incur will solely rest on your shoulders.

Right credit card

There are different types of credit cards. This means that you should strive to ensure that you get the ideal credit card that is suited for you. Once you are eligible to get a credit card, it is important to note that there are different types of the credit cards. It is highly recommended to do research on the credit card you have chosen and look at its benefit before deciding one. Some of the things you can look for when selecting the right credit card includes annual fees, credit limits, billing policies, and interest rates just but to mention a few.


jjhjhjhjhjhjOne you obtain your credit card, it is critical to you put it on the right purpose. One way of doing this is using your credit card for small purchases occasionally. This will help you make your repayments promptly which will lead to an excellent credit history. Using it regularly will also prevent cases of account inactivity.

Selecting The Best Student Loans

Over the past few years, the cost of college tuition has been on the increase. Many students have as a result opted for the student loans which help them settle their school fees. The number of students applying for the student loans has been on the rise. It is usually challenging to enter the real world with debts bearing in mind that many students often struggle to find jobs after graduating. This read highlights some of the key factors that are crucial when selecting the best student loans.


Keep track

hghghghghgYou should keep track of how much you are borrowing and the interest that your loan will attract. Keeping track of these figures will help you access and come up with a suitable repayment plan. Evaluate how much you will be able to repay upon your graduation. This is because reimbursement of these loans begins immediately. Also, ensure that the loan repayment amount is only a small fraction of your salary. Keeping track will also enable you not to borrow more than you need.

Terms and conditions

One of the most common pitfalls of the student loans is that many individuals do not understand their terms and conditions. The most obvious one is that the repayment has to start immediately after graduation. Ensure that you understand the terms and conditions of the loans and keep records of your student loans. Always read the entire document before appending your signature.


Since you will be required to start repaying your loan immediately, you graduate research on the starting wages that graduates in your field earn. This information can be obtained in the college as well. Ask the head of your faculty the starting wages of the recently graduated students in your field. This will give you an idea of the amount of money you are likely to earn upon your graduation.


It is critical to note that these loans have certain deadlines as far as the repayments are concerned. As a responsible borrower, ensure that you only take a loan that you can repay on time. You can talk to you loan provider and work on a repayment plan of the same. You should remember that when you fail to submit your loans in time, they will attract some penalties. Avoid the penalties by repaying your loan in time.


jhjjhjhjwqwqwOne of the common sayings is that education is a great equalizer. Education empowers and equips individuals to be mature and responsible adults who create solutions to their communities and the world as a whole. Since taking the student loans is almost inevitable to most of the students, it is important to consider some of the factors before settling on one.