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Give Your Kid Some Credit

Posted by attorney Seth Rosenberg

Give Your Kid Some Credit With the Whitehouse now pushing to allow some forgiveness toward student loan debt (thank god), it seemed appropriate to post about college credit. I realize personal credit card debts aren’t included in the bill, but it still seemed on point, considering college is the perfect time to start building your credit. When I first started college I signed up for a credit card, foolishly believing every Quizno’s purchase or pub tab had no consequences. Not only did I rack up the freshman 15 (bringing me to whopping 140lbs), I also racked up some significant debt.

Fortunately, I’ve taken care of a majority of my undergrad blunders. I’ve been out of undergrad for far too long to know, but do colleges offer a requisite course in financial management? If not, it should be a requirement.

Credit is a great thing to have. As I said, college is an ideal time to responsibly build one’s credit, considering this is the point when the average student begins paying more personal bills, whether they be rent, auto, utilities, books, etc.

Here’s some good material I’ve found on the subject. If you’re currently a student, peruse these. If you’re a parent of a student, do your kid a favor and start them off on the right track. Don’t send your budding student off without some general knowledge on how to take care of their finances and their credit.

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