Many students going through post-secondary have to take a student loan to cover tuition and other expenses. When students graduate from their respective post-secondary institutions, they
are saddled with a large debt that collected interest even while still studying. The accumulated interest not only adds an extra burden on the student but also causes a setback to start saving up for a home. Moreover, as a fresh graduate earning a meager salary, how can one start paying for large expenses with an already large accumulated debt?
The solution?
Fresh graduates need to find a ways to save money or make more money, such as giving up a gym membership, owning a car, getting a part-time job on the weekend, or not eating out. A way that students can save is also by using tuition credits to get annual tax refunds or reduce employer source deductions. These savings add up over time to help pay off the large debt.