New Website Offers Tips for College Students and Grads with Student Loan and Credit Card Debts
Here a clip from a press release issued today:
"YouCanDealWithIt.com, a comprehensive money management website, offers invaluable advice on budgeting, credit cards and student loans for college students and recent graduates, an increasingly indebted segment of American consumers.
Today, more than 83 percent of college students have at least one credit card and the average balance is $2,347, according to HSH Associates, an organization that tracks the country's consumer loan information. The typical college graduate owes $3,262 on their credit cards and almost $20,000 in student loan debt upon graduation.
As students and grads struggle to take control of their debt and manage their finances, YouCanDealWithIt.com can help with information on establishing good credit and handling existing debt—both important issues for future success.
The website offers easy-to-follow tips on how to save money every day with tools such as an online budget calculator. Users can create a monthly budget, learn how to prioritize spending based on needs vs. wants, and track and make adjustments as their finances change.
'The YCDWI budget calculator is really a great resource for planning my monthly expenses,' says Kimberly Rothwell, a spring '05 Georgetown University graduate. 'I really want to move out of my parents` house, and now I know how much rent I can afford.'
The website is a public service initiative of American Education Services (AES). Deena Engle, Assistant Vice President of AES’ Default Prevention Services, suggests students use YouCandDealWithIt.com to become smart money managers while still in school. 'After graduation, financial responsibilities grow substantially. Grads are faced with the challenges of managing student loan payments and other debt with brand new expenses such as rent, car loans and other costs.'"
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