10 Worst Mistakes People Make With Their Finances

4) Not Researching Student Loans

The pressure to pursue a college education can be overwhelming in modern times, especially when a larger percentage of millennials are logging hours towards a degree. Even men and women of older generations are making the brave and bold decision to return to school and earn a degree. The problem is that the majority of college students are thousands of dollars in debt when they graduate due to often forced and uneducated decision to take out a student loan. Many students pay for school independently and are unable to rely on parental income for tuition purposes. Others sign contracts before researching all of their available options. While loans are designed to be eligible for student re-payment plans, most graduates don’t end up making enough income right away to send their payments on time, which results in high interest and even defaulting on loans, thus putting them even deeper in financial debt and defeating the purpose of higher education.