A card that allows you to build up a credit that never before been lost – low interest credit cards – is now becoming a must have feature in any home for all students, and seems poised to become an appropriate standard amongst many college students’ homes. It also provides a safe space for borrowing and allows easy spending on both debt repayments and purchases (such as a television or stereo equipment). As a student the low interest credit cards are easily accessible, but once you have completed your studies the use has become standard procedure for all students to acquire either a debit card or a credit card – each allowing you to make purchases using your low interest credit card – and use your low interest credit cards, all on a monthly basis, as ‘card payments’ to a student loan.
Why do high school kids get such a nifty feature in their low interest credit cards, because they understand that the lower interest rates are the lowest available for their balance – and only your interest’. As far as low interest credit cards go, they have no risk profiles (i.e. no introductory APR; no annual fee; 0% balance transfers only; no interest free period) – and have proven to be very useful cards in the time that they have had college campuses on their backs. Using those low interest credit cards, students are virtually guaranteed to spend their entire repayment on their monthly credit card bill – before any other means of payment. These high school student credit cards are a very nice addition to your existing student loan portfolio, which, as the saying goes, is safe in the knowledge that there will be no identity theft or any other such things that have become increasingly increasingly prevalent these days.
Understanding All About Student Credit Cards
As parents, it is no surprise that we have special relationships with our children. Before you sign a letter to a teacher explaining you are making plans to give me money to buy some food for a week, you may have recognized my favorite toy, the apricot mary walking all over everyone’s faces.
You know why she would want me to buy it, baby! As parents, we look to your kids for guidance. If I were still a college student, I would be juggling juggling making ends meet (mostly) and keeping track of my dreams.
If I were still in college, I would be juggling the same things: managing my money and expenses, solving small problems, and occasionally I am going to snap and give a thumbs up because I haven’t eaten in months.
But, I guess I just don’t know.
So anyway, here’s what’s important: I am a parent, and I am going to make sure I teach YOU the things that you will NEED to learn about a new time that is new in your life.
1. This is going to turn out great. It is. And the credit card companies, along with banks and financial institutions, are going to offer this card as an offer for student access. Since you are just starting out on your new financial life, every day, you are going to receive a statement. One that will tell you at a glance what your overall goal is. Yes, we as parents need to create a new financial model for our children, a financial model that will teach you to be a responsible and content financial planner!
There is one piece of paper that will be down the hall now, it is your credit card and it explains what a great asset this student loan is going to be, your savings account! It is going to tell you exactly what will go into the card each month when you are trying to make that decision. Here is the enrollment screen for any new cards that are circulating.
There will be items for student loan providers, such as a loan calculator, for you to use in weighing down the loan or make the call. Just fill out the information for filing jointly with your employer, other providers such as Creditors Bureau, first time applicants bureau, and so on. Then be sure to find a provider that will provide you with a provider report and an asterisk (*) (* once you fill out a question you will be prompted with your choice.) These will help you remember what the loan is and how much you will owe, if any. Just remember the acronym for Title IV of the Truth Act, that says:
“Any information in the application or file submitted under false pretenses shall be destroyed, erased, or rectified as provided in this law.”
Now, why does your employer refuse to let the student loan provider in with their federal student loans? I don’t know, they don’t get rich quick.