A reminder about debt.

Project on student debt maintains a site here.http://www.projectonstudentdebt.org/

Bookmark it. It is important if you have any debt at all ( and who on Planet College has no debt?) to keep up with your rights as well as your responsibilties. For example there is a recent post about congressional action which could make at least some student loans dischargeable in bankruptcy.

This may not seem important now but it could affect you in the future. Check it out.

Another year older and deeper in debt.

Every new year brings with it some form of reflection. Resolutions. To do lists. Goals, new and old. For students the start of a new calendar year can mean many things. But one thing it means for sure. More money for school. School costs money. School stuff costs money. Often this money is borrowed. Loans. Currently nationally the economy is adjusting majorly. This could mean fewer hours at work. It could mean overall money is harder to get. It often is for most students. Most students live in limited economic environment, their own personal recession. So. The current "downturn" wont be such news. Still. Right now. Early in this calendar year. Is a good time to pause to review. How much do you owe? How much more will you owe at the end of the year?

Take some time to consider this. And consider what you may be gaining from it. Right now you are investing your time and money in your own future. A future which will last your life time. Take care to use it well. Next year at this time will you be wiser? More capable? More employable? Will you be more than just another year older and deeper in debt?

Think about it.

The Paycheck Loan Wheel Continues.

This is the paycheck wheel continuing story. Now that the student has the hundred dollars from the pay day enterprise they may freely and happily spend it on anything they want. Often though this money is for and emergency like a car payment, cell phone bill or credit card payment. Whatever. It is promptly spent. Gone.
Now time goes by. Usually until the student's next payday. ( This is usually when such payday advances are due.) The student is paid, the business deposits the post-dated check and zoom that money is gone from that student's account. The student's account is now minus one hundred and sixteen dollars.
This might be a simple and even helpful, albeit expensive, transaction if it weren't for a few Planet College Basics. First new costs for students are constantly ocurring. Second most student workers think in terms of their entire pay being available. Thirdly, a significant amount of money disappearing from your checking account is really discouraging.
These effects from this seemingly simple and convenient transaction sometime lead a student to repeat the transaction in order to make up for the shortfall from their current earnings. This is part two of The Paycheck Wheel.