Funding for my post secondary education?

Maurice Breuning: Don't use a credit card to pay for tuition. There are so many other options to pay for your education--scholarships, loans, grants. It takes some legwork to FIND these opportunities but they ARE out there. Talk with a guidance counselor at your school to get information. I don't know what area you're in so I can't really help in that area.As far as the credit card itself...Many students use credit cards to purchase the books they need for classes. Books are really expensive and not everyone has the funding sitting in the bank. Since they are a necessity and not an indulgence, this isn't an irresponsible use of credit. However, you need a job to pay off the credit card as soon as possible. My sister's boyfriend does this and it works for him. He does have a job while in school though. For young adults with little or no credit, credit card companies can tack on insane interest rates...like 24.99%. That's ridiculous but there's no law against it.! Plus they can change the interest rate at their leisure and you may not be aware of it unless you read every bit of mail they send you with a magnifying glass. People tend to be irresponsible with credit cards when they don't look ahead--the available line of credit is there and they don't think about the consequences of using it. THEY HAVE TO PAY IT BACK! One thing I NEVER use credit for is going out to dinner. There is nothing worse than having a big expensive meal, paying with credit, and then getting the bill 3 weeks later and thinking "Was that steak really worth it?". Usually the answer is no. That meal is long gone and now you have to fork over the money. Very depressing. In general, don't buy any consumable products with credit. Since you're paying for it later, you want to have something to show for it.If you ARE getting a credit card, here are some tips that I've learned over the years:--A credit card can help you build credit if you are young and don't! have any...it can also hurt your credit, which takes YEARS (y! es, YEARS) to repair--Only use a credit card if you have the money to pay it off (unless it's for books but even then, pay it off ASAP). --If you are trying to build your credit score, buy what it is you want but pay the bill in its ENTIRETY...you don't want late charges or interest added (esp. 25%!)--NEVER EVER pay the minimum amount...credit card companies want your money--it's how they stay in business. Don't let them have more than you originally spent.--DO NOT pay your bill late. It hurts your credit score, plus you'll be hit with a $25-30 late charge. That SUCKS. Trust me.---NEVER EVER (x 100) use the cash advance options...credit card companies will send you blank checks that you can just "use" as cash. This is a major scam in that you will end up paying a crapload of money back to them. Rip them into pieces or run them through a shredder. Don't be tempted.You can build your credit in other ways though...If you rent a house/apartment/etc. and pay on time (wit! h a check so you have a paper trail) it shows responsibility with moneyIf you buy a car and pay your bill on time each month you're building creditIf you have student loans and pay them on time you're continuing to build creditI did get a credit card when I was in college. I messed up a few times paying it late and got charged but I never maxed it out or didn't have the money to pay for what I bought. (The late stuff was sheer laziness and stupidity). It DID end up helping my credit score overall. On top of that, I paid my rent on time, and did buy a car, which I paid for without issue. Credit cards CAN help you but only if you can trust yourself not to screw it up. I was lucky in that my family drilled it into my head not to be stupid with credit...just because it says you can spend 10 grand doesn't mean you should!Doing the right thing with credit cards has made my life since college SO much easier. I'm not a wealthy person (or even close to it) but if I need to bu! y something, I can do it. When I've wanted to buy something big (like ! a new car, or a house, or a Vespa--not a necessity, I know, but still...) I've been able to do it because I have awesome credit. I get the best interest rates available because I have a history of paying my bills and not coming up short on funds at the end of the month. My score is actually about to go up because I just paid off the car and Vespa--yay! House is another story--just 27 more years. Ha. I have a few credit cards just because I can get good discounts on certain things (i.e. some stores send me coupons or store credit). I also know that if my plumbing were to burst or my stove stopped working I have enough credit to pay for a plumber or a new stove and I would be able to make monthly payments until it was paid for. One thing I DID use credit for recently was for a new heating/air system. Husband and I didn't want to empty the savings acco...Show more