To properly view this site, javascript must be enabled and Flash version 9 or higher must be installed.
Get the latest Flash player

Transcripts

Host: Should I take out a loan, or get a credit card to help me pay for expenses?

Brad Barnett: Well, the Loan versus credit card issue, I mean, my advice is if you can avoid both of them, then do. Make a good budget and hopefully you won t have to take out any kind of debt. But if it comes down to one or the other, loan debt, student loan debt, it's typically considered better debt than credit cards. It's factored better in on the credit reports, there maybe some provisions for you to actually write off some of the interest on student loans, when you pay your taxes and there are also caps on what the interest rate can be as well as repayment affirming cancellation provisions. With credit cards that s not the case and it's so easy for students to get in trouble with credit cards. So, if comes down to one or the other, students loans would certainly more advantageous than having a credit card.

Expert: Brad Barnett

Brad received his Bachelor of Science degree from Southern Arkansas University, with a major in Psychology and a minor in Business.  He furthered his education by graduating from the Medical College of Virginia at Virginia Commonwealth University with a Master of Science degree in Rehabilitation Counseling, specializing in Mental Health.  He has been involved in the financial aid and/or rehabilitation More »

About This Video

In this video, Mr. Barnett reviews some important aspects of how managing your money appropriately can help make college more affordable.

This expert:23906 views

This video series: 1092 views

This video segment: 158 views

Tags: Financial aid, College, Graduate, School, University, Scholarship, Scholar, Study, Grant, Loan, Application, Finance, Management, Budgeting, Budget  

Comments: 0 (Read Comments) (Add)

Embed:

Bookmark this:

Add to del.icio.usDelicious Submit to reddit.comReddit Share on FacebookFacebook Stumble It!Stumbleupon

Other Videos