Guest article on dealing with debt…

Thank you Ed Carter again for a wonderful post addressing many ways to manage one’s money, applicable to all debt but especially targeted to those going to school.

Ed has been a regular contributor to this blog and receives no compensation for his time of writing wonderful applicable pieces. He is also open to suggestions on anything financial and dealing with mental illness.

Email me at victoriamariealonso@yahoo.com if you have any ideas.

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How to Keep Long-Term Debt Manageable When Going to College

If you are recovering from or living with a mental health disability, how you shape your everyday life is critical. And that includes your career. Perhaps you’re already in a job that brings you fulfillment and purpose. But if not, consider evaluating your career and pursuing something more.

Unless you already have the knowledge, skills, and credentials necessary to excel in your chosen field, going back to school might be a strong step toward laying the foundation necessary. It’s no secret that college can be expensive and saddle you with debt that follows you around for many years after graduation. However, following these tips from MyPersonalRecoveryfromSchizophrenia.com can go a long way in helping you minimize long-term debt as you pursue a degree:

Opt for online.

If possible, take online classes. They are often more affordable than in-person programs, and they typically offer a more flexible schedule. You can complete your degree at your own pace which means that you can more easily fit other obligations into your life such as work, family, and downtime.

For instance, if you pursue a bachelor of science and education, it can open doors for you to teach preschoolers and elementary-aged kids, and you can still live a fulfilled life along the way.

Submit a FAFSA.

This is a must. The Free Application of Federal Student Aid (FAFSA) can be easily accessed at studentaid.gov. By completing and submitting this application, you can quickly find out which grants, student loans, and work-study programs you qualify for.

Your main focus should be on grants, as they won’t require you to pay any money back. As far as loans are concerned, you will likely receive a more favorable interest rate through federal loans as opposed to private loans, and they often come with more flexible payment terms as well. Work-study programs will give you the opportunity to work off some of your tuition costs.

Apply for a lot of scholarships.

Similar to grants, scholarships are essentially free money for students. And you can apply to as many as you want. Research the variety of scholarships instituted by universities, businesses, organizations, and individuals throughout the country. The more scholarships you apply for, the more money you will get; it is that simple. If you really want to improve your chances of being rewarded, treat scholarship applications like a part-time job.

Assess each loan.  

Maybe you will get all the grants and scholarships necessary to pay for all of your college expenses. But you will most likely need to take on one or more loans. Pay close attention to the terms of each loan that you consider. This means looking at all the interest rates, APR, repayment options, and duration of the loans. If you need to pursue a loan from the private sector (e.g., credit unions, banks, other lenders), compare the terms to choose the most favorable ones possible.

Borrow less.

Just because you qualify for a certain maximum loan amount doesn’t mean you should accept it. Go through your budget and evaluate your goals to determine how much money you will actually need to get through college and earn your degree. Don’t borrow any more than you need.

One way that you can minimize the amount you will need to borrow is to put yourself in a more stable financial situation. For example, consider getting a part-time job if you don’t already have one so that you can earn income to offset some of the costs of living and school, and live as frugally as you can while you’re taking classes.

If you feel like it is time to improve your career prospects, pursuing a degree in your desired field could be a strong step in the right direction. Remember to thoroughly research schools before deciding where to go, and go for an online degree if possible. Also, be sure to file a FAFSA, apply for as many scholarships as you can, and evaluate each loan you consider. Lastly, strengthen your financial standing, and only borrow the money you need so that you can put yourself in a better long-term financial situation.

If you found this article helpful, you can read more content on mypersonalrecoveryfromschizophrenia.com!

Update and upcoming guest article on staying out of debt when in school…

Greetings! Been very busy with disaster after disaster but still looking up!

Had a very successful baby shower with 60 people! Was a lot of work but worth it and lots of fun!

The week of the baby shower, that I was mainly in charge of, we suffered through fraudulent activity on my debit card from a scam my husband fell for, and of course the bank was out of new cards due to covid blast it! So had to pay for everything with cash since we are out of debt and don’t have a credit card anymore.

Speaking about debt, I will be posting here shortly today or tomorrow a guest article from Ed Carter who writes helpful financial articles for just the good of it. So watch out for that coming soon if you are a student or are thinking about going back to school!

Back to my update, so anyway major hassle with not having a debit card. I was able to borrow my daughter’s for important things like my MUSIC! lol still waiting on new card, hopefully today will arrive. Then had to have emergency oral surgery last week 3 days before the shower! Then my dog sprained her back so needs special care while it heals. At the same moment I was dealing with baking 72 cupcakes, and my dog Butter, I get a call from extended care that my dad was about to pass! I was so upset I smashed a cupcake that wouldn’t come out of the tin lol.

I have had some anger problems lately, twice in same week. When everything happens at once I get so mad. When I was smoking weed I was so mellow and now that I am feeling my emotions have to learn better anger management skills me thinks…

But life is definitely much better off weed, feeling the sadness over my dad (he is still barely hanging on), and joy of becoming a grandma in October!

I did promise my faithful followers I will explain how I integrated from DID disorder. I will get to it but to be honest I am not quite sure how it happened lol but I will share soon:) Thanks for your patience!

Peace to all of you who have remained with me during this exciting transition to better mental health.

One last thing, if I may. I started taking Omega -3 fish oil about two weeks ago and have noticed a significant improvement with my depression and overall mood. it’s a cheap fix worth trying if you struggle too!