A South African’s Guide to Surviving College Student Debt – What to KnowFebruary 20, 2020
No matter where you may be in the world, there’s no doubt that going through college on your way to becoming who you’d want to be in the future is an experience that’s unlike any other.
From all-nighters and difficult tests to forming friendships and meaningful connections, there are many memories that can make up one’s college life. Sadly, financial hardships are almost always integral to the entire experience for most South Africans as well. As much as you might try to avoid do-or-die financial situations, one reality of being a South African college student is that the entire experience is definitely never going to be luxurious or comfortable until you graduate (or even afterwards!).
Fortunately, not having an endless pool of funds doesn’t have to stop you from living your best life as a college student, from making friends, or from enjoying the experience of being a student if you play your cards right financially.
When we say that you need to play your cards right financially, we mean that you’ll need to take the right steps towards making the most out of your shoestring budget while generating more opportunities for income. By following all the right steps and working as hard and as smart as you possibly can, you can emerge from the pits of financial struggle and ease your way through college despite rising tuition and material costs!
The first step towards getting through the financial hurdles of being a college student in South Africa is to drop the pessimistic attitude and swap it out for a few pieces of knowledge and some determination. In this article, we will share with you several effective tips that you should keep in mind and use them to make it through college and lighten the load of your finances:
1. Share the cost whenever possible
Whether it’s your dorm room, Internet connection, utility bills, or transportation costs, there’s always going to be a number of different ways that you can share your costs of being a student and save more money for other important expenses. For example, if you’ve opted to live in a dorm to get closer to your college, try to get a roommate so that you can cut costs in half and get some added perks that can reduce your expenses.
2. Get a part-time job
With an abundance of different part-time job openings all over South Africa that are especially geared towards providing opportunities for college students, you have no excuse not to work a bit harder and fill up your bank account with extra funds. By going online and checking classified ads, or asking around, you can easily land a part-time position that doesn’t require that much labour but can work wonders in getting you by with adequate financial support!
3. Opt for a personal loan
If the financial burdens get a bit too heavy to be lifted by a part-time job or splitting costs, the easiest and most sustainable way to ease your finances is to opt for a personal loan that can do the heavy lifting for you. Thanks to the wide range of options available (especially from reputable providers like Hoopla Loans!), you can now get personalized financial assistance options with ease, such as personal loans for students.
With the help of a standard personal loan, you’ll be able to receive financial assistance that’s been designed to help students get through their entire college lives while managing to pay off at low-interest rates in the long term!
As a student, one near-inevitable part of your entire experience may have much to do with financial hardships and tight situations that call for quick thinking and all the right solutions. Should you find that your current financial load is too much to bear on your own, get in touch with Hoopla Loans and inquire about our personal loans for students to see how we can help!