With the costs of traditional college continually rising, many college students are turning to student loans to help them achieve this important milestone. While these loans can definitely help you get your degree in the short-term, the long-term misery of debt (usually $20,000 or more) will not be quite as beneficial.
In today’s article, we will explore a few of the many reasons to avoid the college debt trap.
Although college might feel a bit early to do any financial planning, you will benefit for the rest of your life by taking a few simple steps during your college years. By making a small change in your financial direction now, you can reap a major benefit later in life.
Did you know that five CLEP tests can provide the equivalent of one year of college? Because the first two years of college are primarily a review of high school, many of the topics, particularly in the first year, are essentially the same for most degrees. By passing the five “main” CLEP tests, you can actually test out of your entire first year by simply brushing up on your high school learning!
About a month ago, we learned ten interesting CLEP facts. For instance, did you know that the average CLEP student saves 2.5 to 10.1 months of college studies? What about the fact that you save an average of $532 for each CLEP you pass?
Today, we continue with a few more interesting facts about this excellent credit by examination method.
Depending on the extent of your current knowledge, preparing for a CLEP test can be a difficult task. Despite the flexibility and lower price, CLEP tests are still tests, and you will need to learn the equivalent material.
Before you begin studying, assess your current position. Have you studied this topic much before? If so, how much time has passed since then? Depending on your answers to those questions, you might only need to use one of these study resources, or you might be better off using all of them!