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.
College Loans are a huge issue for many students today! Students are graduating college and trying to find a job in a depressed economy which has created an enormously competitive environment. Companies are looking for much more than just a college degree from job applicants.
One factor that is adding to the urgency of this situation is the substantial amount of college debt that many students are saddled with after 4-5 years at a university. CollegeScholarships.org has created a fascinating visual presentation of the history of student loans and gives a great visualization of the complexity of this system.
Just imagine if students could reduce their college debt by $5,000 with only a few months of study. If college students recognized the advantage of CLEPing out of 1 semester of college the amount of debt would be considerably reduced across the nation.
Many people who look at the business CLEP exams seem daunted by the idea of testing out of more than just their general education classes. The assumption they make is that classes like Principles of Marketing are difficult or require prior expertise in marketing. Anyone who has actually taken the Marketing CLEP would laugh at this assumption.
What students don’t realize is that the “principles” of marketing are just that, principles. The concepts covered in an introductory class such as marketing at very fundamental. It doesn’t take a marketing consultant to understand and pass the CLEP, simply someone who is willing to spend a little time studying the fundamental concepts around the subject.
When I began studying for the Principles of Marketing CLEP test I jumped in with merely 6 months of a sales internship and 2 years of mowing lawns. This is not the typical background you would think is necessary to pass the Marketing CLEP but after just 10 days of study I went in and got 3 college credits!
I was able to take the small amount of marketing that I had observed in 6 months of working for a small business, apply it to the concepts I studied, and get one more class under my belt and was that much closer to my college degree.
According to the Washington Post, more than 6.5 million Americans have been unemployed for six months or longer.
You don’t have to let this happen to you, if you take the advice of hiring executives on an upcoming webinar hosted by SpeedyPrep’s partner, CollegePlus!
How to Land Your Dream Job In a Down Economy is scheduled for 9 PM EDT/ 8 PM CDT.
This absolutely free event will feature former executives at two different Fortune 500 companies.