3 Things To Learn The Summer Before College

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There are so many things to do the summer before you begin college!  Assuming you have already been accepted and know where you will attend, your attention may shift from submitting documents and meeting deadlines to accomplishing something on your bucket list or learning practical life skills.  Continue reading

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Private Foundation Scholarship Questions

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For students enrolling in college, financial aid can come in three forms: Federal, Institutional, and Private (or third-party). For those seeking aid options in addition to federal and institutional awards, researching private scholarships may prove highly rewarding and beneficial.

Continue reading

Establishing credit: two baby steps and a warning

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Let’s say you feel ready to handle the responsibility of credit and all that entails.  How do you get started? 

Before we even get into that, let’s take a moment to revisit the main take-away from our last post [Credit: what is it and why should you care?]  Let’s say it all together now: No credit is better than bad credit! 

Yes, we are starting with the warning mentioned in the title.  That is because it is so important!

Moving on.

Demonstrating that you are responsible with your finances is key to qualifying for a loan or credit card… but how can you prove that you are financially responsible with credit when you don’t yet qualify for the very things that help you build that credit?

Baby Step #1: Open a bank account in your name, if you don’t already have one.  Try your best to deposit on a consistent basis. Even if it is only a few dollars a month.  It all ads up, and a history of deposits looks good even if they are small.

Baby Step #2 Apply for a secured credit card.  You use it like a regular credit card, but the spending limit must be backed by a deposit.  (Your spending limit is typically dictated by the amount of your deposit.)  You can use the card to pay bills or make purchases, and you will be responsible for paying off your balance just as you would with a regular credit card.  Another option is to become an authorized on someone else’s credit card.  This means that the other person will need to be able to trust you! (A typical scenario is for a parent to add their child as an authorized user on their card.)  They will be held responsible personally for any bad decisions made with the card, so you will be expected to be on your best behavior!  On the flip side, your name can benefit from the correct usage of that card.

Looking for more baby steps/ways to get started on building your credit?  There are several other valid options, each of which have their own set of pros and cons.  Nerdwallet.com may be helpful to you as you navigate the world of finances and learn what will work best for you.   This page on their website offers several more options for building credit from scratch: https://www.nerdwallet.com/blog/finance/how-to-build-credit/  

Ultimately, your level of responsibility will determine how well they work for you.

What is a good target age for establishing credit?

The decision to use credit or not and when to begin establishing that credit is a subjective one.  Every person has different goals and varying degrees of responsibility.

That being said, you will need to be 18 years of age or order to apply for most credit cards, but can open a bank account when you are much younger (sometimes as young as age 13).

Warning: Building good credit is fairly easily done, and can be accomplished in just a few months.  Bad credit can haunt you for hears.  It is not a bad idea to work toward building good credit while still in high school.   However, your self-control plays a significant role in the success of this plan.  Some students are better off waiting.  Be honest with yourself and seek advice.  Make sure that the temptation to spend is something you can handle.

 

 

 

You don’t know what you don’t know (Or: Why taking “that class” is a good idea)

56206868_9ea35e3694_zIt seems inevitable.  At some point in your college career you will find yourself taking a course that seems disconnected to your major.  You may begin to question the decision-makers who determined that this should be a required course in your program of study.  When mid-terms roll around, your patience can start to wear thin. Continue reading

What does a budget do? {Or: How to eat churros instead of gas money.}

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Budgeting.  What emotion do you associate with that word?  Boredom?  Fear?  Stress?

It should make you feel secure.  In control.  Confident, even.

There is a misconception floating around that budgets are restrictive.  That they zap all the joy out of life and limit your dreams.  That they make you give up your churro addiction. Continue reading

Three ways to maximize your study sessions.

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At this point in your life you are very familiar with classwork, exams, and, of course, studying.  If you’re in college, no doubt you are studying.  At least a little!  The question is, are you studying effectively?  Continue reading

Off To College: One Thing You Can’t Afford To Leave Behind

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Have you looked at the calendar today?  Did you notice that there are only 5 more squares in July?

Five days before August hits in all it’s hot, busy, back-to-school fury.

For some, the conclusion of summer means cramming in a few more beach days, one more camping trip, or one more theme park adventure.  For others, it means cranking through just a couple more weeks of longer-than-usual work days to save up for the fall semester.

Emotions range from excitement to dread and everything in between… possibly ricocheting between the two extremes like an out-of-control bouncy-ball!

If you are beginning your freshman year at college, you are getting ready to launch out on your own.  This is true for both commuter students and campus residents.  While the change is more drastic when a student actually “moves out” for college, commuters also experiences a detachment from what (up until now) has been their typical family schedule.  This is a necessary, even healthy, part of the process of growing up and morphing into adulthood!

Naturally, becoming immersed in college will mean you become a bit less involved in life outside of college – especially as a campus resident.  Here at Trinity Baptist College, we encourage you to take full advantage of the spiritual culture of our campus by attending chapels and Bible studies and develop strong relationships by participating in activities and athletic events.  College can be so much more than an academic education if you allow it to be.  It can be the place where you meet life-long friends and make important connections that impact your life long after graduation.

There is a delicate balance, however, between full involvement in your college life and maintaining honest communication with family and mentors back home.  You may not grasp the importance of this now, but believe it – you need to keep in touch!  And not just because your family loves you and wants to hear from you! (Although that is a very valid reason, and one you need to remember!)

There is another — deeper — reason.  You will need advice. No matter how old you get or now experienced or mature – you will always need someone to speak into your life and offer a different perspective.

Proverbs 11:14 – Where no counsel is, the people fall: but in the multitude of counsellors there is safety.

Proverbs 19:20 – Hear counsel, and receive instruction, that thou mayest be wise in thy latter end.

Embracing your independence without dismissing the family members, friends, and mentors who have had a positive influence in your life before college is a tricky but important lesson to learn.  They are familiar with your background.  They have witnessed your strengths and weaknesses first hand and know you better than anyone on campus.  They can see how your struggles, triumphs, fears, and dreams make you unique.  They also can see your potential more clearly than most and genuinely desire your success.

Eventually, your new professors, friends, and mentors will come to know you as well.  They will hopefully speak into your life with wisdom and help you mature as a person.  But view these new influences as an addition to your support system instead of a replacement for what you already have in your parents and spiritual mentors.

Getting to college is a milestone to be proud of, certainly.  But don’t forget the valuable advice and support that got you to this point! You can’t afford to leave behind the wisdom and perspective that has been instrumental to your success so far!

Above all, don’t distance yourself from the ultimate source of wisdom for your life – God and His Word.  Even if all others fail you or steer you wrong, His wisdom transcends all.

Proverbs 1:7 – The fear of the LORD is the beginning of knowledge: but fools despise wisdom and instruction.