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How to Minimize Debt and Be Successful in College

How to Minimize Debt and Be Successful in College The Sobering Facts About Debt, Grades, and Alcohol 3. Today, the average college student's academic success is dependent upon three highly interdependent factors: Debt, academic performance, and alcohol consumption. Statistics indicate that serious students who do $4,100 their best to responsibly manage their finances and stay sober, are much more likely to be academically successful and achieve higher earning power once out in the workforce. The amount of credit card debt of the average senior, up 41% since 2004 (Sallie Mae) $100 24,000 $100 In 2009, the typical graduating senior had $24,000 in student debt (New York Times) $500 of undergraduates use credit cards to pay for educational of students have used credit cards For many students, alcohol consumption contributes to this debt. According to an article by Zac Bissonnette, author of Debt-Free U: How I Paid For An Outstanding College Education Without Loans, Scholarships, Or Mooching Off My Parents, claims Rachel Barrington of the University of Wisconsin says the average college student spends $500 per year on alcohol. Because the typical student takes five years to earn their degree, that adds up to more than 10% of their debt used to finance a drinking habit. to pay for tuition Today, more college students drop out because of debt than poor grades (ducky9.com) expenses 30% 92% drop out rate due to debt/financial pressure Students and 50% Credit Cards (Sallie Mae, "How Undergraduate Students Use Credit Cards: Sallie Mae's National Study of Usage Rates and Trends 2009") 7.22% 7.39 male 91% 5.32% 3.86 female have four or more of undergrads have one or more credit cards drop out due to academic failure The average male student drinks 7.39 drinks each week, while the average female consumes 3.86 drinks (Core Institute) credit cards (College Board's Trends in College Pricing 2010 and Trends in Student Aid 2010) 100% Average Cost of Tuition Per 85% Today, people between the ages of 18-24 are spending double the percentage of monthly income on debt Year of college seniors plan to move back home with their repayment as they did nine years ago parents after graduation $27,293 30% for private nonprofit four-year college Today, people in this age bracket spend 30% of their monthly income on debt repayment. 10% of net income is the $11,990 recommended amount. (Center for Responsible Lending) for out-of-state $7,605 tuition at public four-year college $100 for in-state tuition at public four-year college $100 $100 The High Price of Intoxication Consequences of High-Risk Drinking 2.1 31% Substance Abuse and Its Impact on Academics missed a class 25% million students drove while intoxicated experienced academic consequences 600,000+ (missing class, falling, failing exams, low grades) 22% students are assaulted 500,000 failed an exam or essay students are injured 159,000 of nation's freshman will drop out because of alcohol or drug use 110,000 students are arrested for public intoxication or drinking and driving 70,000 students are victims of sexual assault or date rape 1,400 students die (This includes motor vehicle crashes) Alcohol consumption and abuse is also a major factor in violent campus crimes. This can have a significant effect on mental health and academic success Other Statistics of High-Risk Behavior Involving Alcohol Success is simple. Do what's right, the right way, at the right time. Arnold H. Glasgow Benefits of Being Responsible and Sober 97% O10.6 |$4,409.60 $22,048 The number of hours per week the average undergrad spends under the influence each week The amount of money earned each year if these same students spend this amount of time at a part-time job that paid $8 per hour Amount of money earned over the course of five years at that same 81 to 97% campus rapes involved alcohol (Abbey et al., 1998/ Harrington and Leitenberg, 1994) $8-per-hour job 74% Evidence suggests it pays to stay sober and finish earning that degree. In an article by Caralee Adams titled Lack of College-Educated Workers Will Hurt Economy, Americans with a bachelor's degree earn 74% more annually than workers with only a high school diploma 70% students had unplanned sexual encounters as a result of drinking (UCSB Alcohol and Drug Program) 11% of student drinkers have vandalized property (Wechsler et al., 2002) 1.2 to 1.5% have attempted suicide while intoxicated (Presley et al., 1998). 11% CreditDonkey 1.5% INFOGRAPHIC DESIGN: Boris Benko (Twentysomething, Inc) %24

How to Minimize Debt and Be Successful in College

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College can be expensive and leave you with a lot of debt. This infographic breaks down the cost of college and social activities in college. It then goes on to explain how by drinking minimally and c...

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Credit Donkey

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borisbenko

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Education
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