One of the biggest problems looming after graduation is paying off loans. 

Even President Barack Obama admitted that he, too had student loans and just paid them off a few years before being elected president. 

Huffington Post recently posted a blog saying half of black college students graduate with over $25,000 in student loan debt. It makes you wonder how we actually acquire so much debt after graduation. 

Studies blamehousehold incomes and the price of a college education. But maybe the answer to the problem is a bit more simpler. 

When taking out student loans it’s not about how much we want for college, its about how much we actually needand there’s a huge difference. 

Some students may not realize that just because banks and lenders offer you a certain amount of money does not mean you actually have to take everything out that’s offered. I know it sounds silly but by sacrificing and only obtaining the bare minimum would actually save you in the long run. 

Those anticipated refund checks that us college students love so much are also contributing to why student loan debts are so high. 

As much as we love spending our refund checks on various luxuries, it’s a better idea to actually invest it back into your tuition. If you use your refund check to actually help pay for some of the expenses it’ll prevent you from taking out as much money the next year. For example, if you’re tuition is $15 thousand a year and you receive $1000 in refunds every semester you would have obtained $8000 by the time you graduate.

That’s $8000 you that you wouldn’t have take out or pay back. 

Of course sometimes you need to take out a loan that’s more than your tuition, and maybe your refund check has to go to something useful but there is another simple way to keep student loan debts from being so high: Pay them back! 

When you ignore your student loans not only are you affecting your credit but you’re also affecting the interest rates of the students who come after you. 

The reasons why interest rates and tuition keep raising are because people fail to pay their student loans. 

Alright, I guess it’s not so simple.