New study shows students stressed over debt
Posted Aug 22, 2012 1:10 am.
This article is more than 5 years old.
As another school year quickly approaches, a new study by TD Canada Trust shows while almost 60 per cent of students expect to graduate with debt, nearly half are stressed out about financing their education.
TD spokesperson Lynzey MacRae says there are steps you can take to make sure you don’t end up graduating with plenty of debt.
She says start saving early, make a budget and be sure to stick to it.
MacRae also tells 660News, managing your student debt doesn’t end when you graduate.
“It’s really important to begin paying off your student loans or your debt as quickly as you can and increasing your payments as your wage increases, because the sooner you pay it off, the less you’ll end up paying in interest in the long run.”
She adds students can also take on a part-time job while in school, look into student financing or a line of credit, but cautions to only use that credit for necessary expenses.
