College Bound? Why Planning; Budgeting is so Important

In life there are those touchstone moments, and as June nears, millions of high seniors will experience one such moment – graduation. Unfortunately, when these high school seniors should be looking forward to this new chapter in their life with a sense of optimism, some are instead worrying about how much debt they’re going to incur earning that college degree.

According to a Princeton Review survey, 38 percent of students survey listed “level of debt incurred to pay for the degree” as their primary concern.  And CNN Money reports that the average college senior in 2012 graduated with an average of nearly $27,000 in student loan debt.

Additionally, in February, the Federal Reserve Bank of New York reported that nearly one in three people with student loans are now more than 90 days behind on payments, which is a significant jump from 2004.

On today’s episode, Your Money, Your Matters welcomes Linda Birt, relationship coordinate with People’s Trust FCU in Houston.  Birt will join radio personalities Linda Webb-Manon and Rick Grady, Texas Credit Union League, and Todd Mark, Consumer Credit Counseling Services in a frank discussion on this important subject. The team will discuss among other things the importance of planning and budgeting for college and taking advantage of available grant and scholarship dollars, as well as practical tips on how to reduce expenses and make your money stretch further.

Tune in; share your thoughts; or gain helpful advice.