Week 5 Assignment 1

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  • Topic: Debt, Money, Full-time
  • Pages : 2 (568 words )
  • Download(s) : 317
  • Published : May 21, 2013
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* Week 5 syllabus * 350-700 word paper outlining 3 points *
* 1) Explain what choices a student can make to reduce the amount borrowed amount. * 2) Explain/highlight areas where you felt compelled to borrow more to cover expenses or managed to trim back your borrowed amounts. * 3) Options to make your student loan payment more manageable in order to avoid delinquency and default. By Ashley Boone

There are a lot of things students never worry about until it is too late and I am glad this assignment has given us the opportunity to reflect on how we can reduce the amount of money we barrow because in the end we will end up with a debt that we must repay. I have reduced the amount I had to barrow by making an inventory of the things I needed to complete my assignments and researched the amounts of these items and where I could get them at a lower price and compared brands to find equal products of equal quality at a lower price. For example there is a computer store in my little town that charges three times the amount for the computer I want than I can find it on E-BAY. I KNEW I needed a computer that was reliable and had enough memory to store and hold my documents that was also light and compact so I not only reduced the amount of money I had to barrow but I used this option to make my student loan more affordable. I knew I needed to get glasses so that I could read for extended periods of time so I felt really compelled to borrow more money for them so I chose a pair that was fashionable as well as comfortable. I have trimmed my budget on the computer I needed by researching but also decided to spend more money on my glasses than I needed to. I knew that if I borrowed this money it would need to be repaid so I have...
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