Choosing Student Housing –Need to Know

The wrong student housing can be a big drain on your resources during your college years. While many types of student housing exist ranging from dormitories to fraternities/sororities, co-op housing and apartment housing, the right choice must be made based on the students needs.

If you have decided to live with friends from college, then choose wisely. This decision is almost as important as choosing your mate. Then, the housing must work for all your friends. If you choose the wrong housing you may be stuck with an unbreakable lease for an entire semester or school year depending on the landlord. My friends and I recently joined Strayer University one of the best online colleges for their online accredited nursing programs, leaving us with the big decision of finding housing close to where practicum classes were held. 

Remember that you are in the driver’s seat and there is no rush to pick the housing. It's a big financial commitment and don't be in a hurry to make it. Also remember that the best housing choices are available after the holidays. With Thanksgiving and Christmas being back-to-back, right after the New Year's is the ideal time to be looking for housing.

Here are a few things to watch out for when choosing student housing:

Water damage: This is a sign of worse things to come. Water damage is usually accompanied by mold which can play havoc on anybody's immune system and respiratory system. A wet ceiling especially is a troublesome sign and if you see that, run like the wind! If you don't, before you know it, you and your friends will be really ill and scratching your heads as to why you're feeling that way.

Pests: Some landlords tend to take students for granted and are not careful with pest control. A lax attitude is often presented towards student housing by landlords as they think lower standards will be acceptable to students. Although animal droppings are always not visible, there is a tell-tale smell that is unmistakable. Remember that just because students have a reputation for being messy, that does not give the landlord the right to present you with messy quarters.

Neighbourhood: As in any real estate decision, it's all about the location. Make sure that the housing is close to your school. This can come in handy especially in bad weather, when the town has not had a chance to clean the streets of snow.

Above all, how safe one feels in that location is perhaps what deserves the most consideration. However fancy or convenient the housing is, if the premises do not afford safety both inside and with respect to its location, then move on. A bad neighborhood with great prices does not compensate for what you will be putting yourself through every day.

Ultimately, talk to your neighbors about the landlord and ask your landlord for references when possible to make sure that this decision is not something that you regret one semester in.

Student Loans - Do's and Don'ts

Applying for a student loan is easy, and so is getting it; where the challenge lies is in retaining and repaying it. Student loans are a great way to finance your education with reasonable interest rates geared specifically towards students. Student loans unlike scholarships do not have GPA requirements during schooling. However you do have to repay them unlike scholarships. So picking and choosing this long-term commitment requires attention to a few of the following details. This list helped me in paying for my pharmacy technician training without breaking the bank in the long run.

Planning and research: Looking into the best interest rates will go a long way in your ability to pay your student loans back in a timely manner. While the student loan is set up with a student in mind, it is only a loan nevertheless; it should be given the careful attention to detail that any other investment would. Applying for a loan without thorough research could be disastrous as the fine print may make all the difference. Knowing what your timeline is for repayment of the loan could make the difference between peace of mind and being hounded by collectors.

Keep your credit clean: Make sure that all of your credit cards are up to date with payments and don't cancel or change any loan terms during the period that you are applying for a student loan. Any major credit card purchases at this time will be a red flag to the student loan officer prompting an investigation and delaying the process.

Meet the deadline: Student loans have very strict deadlines. There is no wiggle room for an extra day or even an hour. Any missing information from your application can seriously delay the process making you ineligible for that semester. Some student loans run from one school year to the next, so missing a deadline can put you back as far as three semesters before you reapply.

Avoid private loans and equity loans: Private loans start accruing interest the moment they are taken out unlike student loans that give you six months to a year after graduation before you have to start paying them back. Private loans are not subsidized the way that student loans are and are not governed by principles that also keep the students’ best interests in mind. Equity loans put you at risk of losing your collateral in case you are unable to make your payments.

Importantly, borrow only what you need; remember that this is a loan and you need to pay it back (in my case on a pharmacy technician salary), even if the interest rates are lower than anywhere else you might find. While beginning one's career with a truck-load of debt may not be ideal, student loans will get you where you want to go while teaching you fiscal responsibility.