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Plan Your Finances

A college education is an investment in your future. Most Penn State students and their families rely on educational loans to finance their degree.

Get a return on your investment

If you begin with the end in mind, you will understand the impact of your borrowing and spending habits.

  • Remember the big picture—your education will take time to complete. Consider the length of time it will take to complete your degree.
  • Be aware of your ability to repay your loan debt after earning your degree
  • Consider the earning potential in your field of study
  • You do not have to borrow the maximum amount the lender will approve.
  • Think before you borrow—an ounce of prevention is worth a pound of cure.
  • Create a realistic budget. Live within your means.

Beware of credit cards

As a college student, you will be inundated with offers from credit card companies promoting free gifts to apply. Although a credit card may be useful in emergencies and can help you establish credit, the lure of "easy money" offered by credit cards and a "Buy now—Pay later" attitude has contributed to financial problems for more and more college students.

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