Payday Loans for Students

Payday Loans for StudentsWhen you’re a student you’ll find that often times you don’t have enough money to make ends meet and you might wonder if there’s such a thing as payday loans for students. Unless you’re holding down a job while going to school, you’re going to have a tough time getting money from a payday lender. They’ll want you to show a paycheck, or some other type of regular income, and unfortunately student loan refunds don’t come with enough frequency to be used as a form of income.

Are There Any Payday Loans for Students?

It costs more now than it ever did before to go to college, and that can make it really hard to afford the things you need, especially when you factor in books, supplies, tuition, food, housing, and the like. It’s also a tipsy economy where it can be hard to find a good job, even if you just want something menial and easy to do while you’re going to school. This all combines for a rather tumultuous college experience for most.

When Things Stack Up
It can be overwhelming to deal with money shortages on top of all of the other things you have to worry about as a student. Talk about a stressful situation if your car breaks down and you can’t afford repairs but you’re still required to make it to class every day, to work every day, and to all of your other activities where people are counting on you. If you try to add more hours to your workweek, you find that your schoolwork suffers, and then you run the risk of lowering your GPA and sabotaging your future. Talk about a Catch 22.

In one semester I tried working full time while going to school full time and I ended up having to withdraw from the semester, and almost got stuck with straight F’s that term. My advisor said that I needed to choose one, either go to school full time or work full time. I obviously couldn’t do both. It was easy for him to say, seeing how he didn’t have to pay my tuition or rent payments. But in the end he was right. I took a semester off from school, worked a bunch, saved up my money and then finished strong by still working part time, but going to school full time. There’s always a way out of your financial situation, if you can just get some perspective on it and look at it from a different angle.

The Ramifications of Going Into Debt
What you don’t want to do is stack the deck against your future self by burying yourself in so much debt that your brief college stint ends up taking more than a decade to repay. It’s easy to get into the mode of going to college at all costs, but the danger is that it can set you up for a rough time, long after you wear the cap and gown and get your degree. You definitely want to get your education, but set some parameters and some boundaries to how far you’ll go in order to get it done. If it means taking a step back, or taking some time off, be sure to do it so you can get your ducks in a row and come back stronger than ever, without the stress of wondering how you will pay for things.

What Can You Do?
So if you can’t get payday loans for students – and trust us, you wouldn’t want to even if you could – what else can you do? If you’re in a financial emergency and need a loan, the best way to do it is to ask a family member or a friend for it. This is often a better option than the super high interest and fees you’ll be charged if you go with a payday lender.

You’ve probably already thought of this and shot the idea down, either because you’ve already borrowed from all of your family and friends, or because you’ve got too much pride to ask them for money, or you don’t want things to get complicated with them. However, people are usually pretty lenient when it comes to going easy on students, as it’s considered a noble endeavor and they know what it’s like to be a starving college student.

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