University goers seeking a student loan should give careful thought and consideration to how they use the money they borrow and consider the way in which they will be able to pay the cash back.
Liz Dunscombe, director of project and partnership at Credit Action - which is a registered charity in England and Wales, established in 1994 - has noted the current economic situation means individuals need to take greater care when using money they will have to repay at a later date.
The industry figure observed careful budgeting can help to alleviate the monetary concerns people may be harbouring as they look to make ends meet both now and in the future.
Students may therefore wish to set out a detailed plan on how best to spend their student loan on a weekly or monthly basis.
Ms Dunscombe explained: "The first step would be to create a budget, or review an existing one, to examine whether money is being spent on non-essentials."
Careful planning carried out now will serve to restrict the damage felt at a later date, Ms Dunscombe added.
Students should plan finances for the future
Students should plan finances for the future
Tue, 11 Oct 2011
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