Between student loans and high credit card balances, Today's graduates are deep in debt. Starting salaries hardly seem to be enough to support the burden. Long term, the debt may be worth the price to earn a lifetime of better paying careers. Education is important and should be encouraged. Accumulate as little debt as possible, especially credit card debt. Borrow on Student Loans before using credit cards to finance college or graduate school bills.
Credit counseling may offer a solution to get a college graduate on a plan that includes lower monthly debt payments. Explore all of your options as you start out in your chosen field. Consolidation into one payment can also help busy graduates. After several years of earnings increases, your debt load may not seem so high.
Debt Consolidation can:
Help avoid filing bankruptcy
Eliminate creditor harassment
Lower debt payments up to 50%
Provide one monthly payment
Usually upon entering a debt management or Student Loan consolidation program you would have to close your credit card debt accounts (as well as others). This is a benefit because it will help curb your current spending and it's probably what method caused your debt originally. Sometimes you'll find that you can still own one or two credit cards for emergency or if it's "secured".