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    You need more money for college. Do you whip out your credit to pay tuition or do you apply for a federal student loan. It is time to weigh out the options.

    • With a federal loan, your interest rate will be low (around 5.125) and your payments will be deferred for 6 months after graduation.

    • With a credit card, the interest rate can be as high as 21%. Interest begins accruing almost immediately, and you need to begin paying off the bill the next month.

    This is not to say that credit cards do not have a place in your college life. It is good to have one national card (Visa, MasterCard, Discover) on hand to help you

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    time to weigh out the options.

    • With a federal loan, your interest rate will be low (around 5.125) and your payments will be deferred for 6 months after graduation.

    • With a credit card, the interest rate can be as high as 21%. Interest begins accruing almost immediately, and you need to begin paying off the bill the next month.

    This is not to say that credit cards do not have a place in your college life. It is good to have one national card (Visa, MasterCard, Discover) on hand to help you

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    be deferred for 6 months after graduation.

    • With a credit card, the interest rate can be as high as 21%. Interest begins accruing almost immediately, and you need to begin paying off the bill the next month.

    This is not to say that credit cards do not have a place in your college life. It is good to have one national card (Visa, MasterCard, Discover) on hand to help you

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    accruing almost immediately, and you need to begin paying off the bill the next month.

    This is not to say that credit cards do not have a place in your college life. It is good to have one national card (Visa, MasterCard, Discover) on hand to help you

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    do not have a place in your college life. It is good to have one national card (Visa, MasterCard, Discover) on hand to help you build a positive credit history and to provide security in emergencies. When you decide to apply for a card, compare annual fees, interest rates, and introductory offers. And to keep yourself out of debt, try to-

    • Pay your balance each month to avoid interest charges
    • Pay your bill on time to avoid late charges
    • Avoid cash advances, which come with large finance charges and interest that begins accruing immediately.
    • Use your credit card once a month to build a good payment history.

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