Parents beware that student loan debt is now higher than credit card debt in America. Start with a plan for your child early and make sure that everyone understands the goal...avoiding student loans! Here’s an idea. Instead of buying toys and gifts, contribute to the higher education savings account. In this episode Financial Executive from Trilogy Financial Services Daniel Lungu gives great tips for parents and their kids alike to help avoid the crushing results of high student loan debt. Also in studio with Daniel and Dino is Shelley, a real life example of the student loan crisis. Here’s just a few examples of what you’ll hear:Teach your children to work for compensation from a young age. Teach your children about saving. Consider community college for the first two years. Find out everything you can about grants and scholarships. Know what you want to do as a career before you enroll. Understand what to expect from college. Credit Cards Interest Rates Treat your education like a job. Federal Loans vs. Private Loans Getting a job in the professional world.
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