Managing Debt During School

The biggest levers tend to be borrowing only what you need each term rather than the maximum offered, finishing in four years when possible, keeping housing and living costs modest, and applying for scholarships every year rather than just as an incoming student, since renewal and upperclassman scholarships are often less competitive.

Not necessarily — used carefully, a credit card can help build credit history for future needs like renting an apartment or getting a car loan. The risk is treating it as extra income rather than a repayment tool, so a low limit, paying the balance in full each month, and tracking spending are worth prioritizing.

Keep a single record — a spreadsheet or note — listing each loan's servicer, balance, interest rate, and due date, and log into the National Student Loan Data System (via studentaid.gov) periodically to confirm it matches your federal loan history. For private loans, check your credit report periodically to make sure nothing is missing or mislabeled.

It varies by wage, hours, and cost of living, but a full-time summer job over 10-12 weeks can meaningfully cover a semester's worth of books, transportation, or personal expenses even if it doesn't touch tuition. Treating it as money earmarked for the school year, rather than spending it over the summer, is what makes the difference.