Congratulations to all you new high school graduates headed to college! You’re definitely on the right track. Now, you may be tempted to relax and kick back this summer, but it’s likely you have one or two more graduations ahead of you—college and even graduate school. So celebrate and have fun, but also begin preparing for the life ahead of you.
Most people wait until the first day of class to start college, but there are things you can do right now to get in gear. Story To College friends Patricia Hudak and Jullien Gordon wrote a great book titled 101 Things To Do Before You Graduate to help you maximize college and minimize debt, and you can get started this summer.
First, about debt. Unlike your parents’ generation, a good GPA and good personality won’t guarantee you a good job. Don’t panic, but here are some statistics you should know:
- College seniors who graduated in 2009 had an average of $24,000 in student loan debt, up 6 percent from 2008, according to an annual report from the Project on Student Debt.
- In 2010, only 25% of college graduates had a job at graduation, according to the National Association of Colleges and Employers.
- The Wall Street Journal reports that for the first time, Americans owe more in student loans ($829.8 billion in government and private student loans) than they do in credit card debt ($826.5 billion in revolving credit).
Here are 12 of the 101 things Patricia and Jullien recommend that you do this summer to minimize debt:
- 13. Apply for at least 1 Scholarship
- 31. Intern with 2 Companies
- 59. Create a Budget
- 60. Set Up Checking & Savings Accounts
- 61. Get Your Credit Reports & Scores
- 62. Eliminate Your Credit Card Debt
- 63. Start a $1,000 Emergency Fund
- 64. Do Your Own Taxes
- 65. Read Rich Dad Poor Dad
- 66. Write a Business Plan
- 67. Sell Something & Make a Profit
- 68. Get Paid to Do What You Love
Come back tomorrow for numbers 13-25!
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