While the
United States may make a big deal about it, in the UK and for the rest of the
world, college loans are dominating the first-year income of many graduates,
especially millenials. There's no escape for student loans. But there are three
solutions that can help you.
Credit Card Debt Hassles
Almost
every student has no good credit after exiting college. What with all the
expenses education takes from you. But if you're buried in huge credit card
debt, don't go for debt settlement agencies that charge you up-front.
Go for debt
consolidation agencies that work you results before you pay them. They can be
miraculous as they can reduce interest rates by 15%!
School Loans
Almost
every kid in the UK has this problem. Before you fall behind on your
repayments, try to ask for help when trying to defer payments, extend your loan
length or reduce your monthly payments and help adjust your income-repayment
balance for your student loan.
You may be
cash-strapped, but you can still live a better life with a lower interest rate.
Create Good Credit
Once you've
sorted out your loans and credit, allow it some few years. Try to build good
credit by borrowing small amounts and have them paid back in full. This will
slowly build your credit score effectively.
