Sunday, April 19, 2015

How to Pay Cash for College - Lesson 6 I Didn't Know This, Now What?

I wrote "How to Pay Cash for College" for April edition of Autumn Ridge Church Magazine. You can find the condensed version on the church website. They did a great job of publishing the article with pictures and graphics. I had to take out a few examples to fit their space requirements. This is the full article in its entirety. I'll split it over several posts to make for easier reading.  Thanks to Lisa for helping me write and edit this article.
I didn't Know All This. Now What?

Let's say you didn't know any of the things we discussed in this article and you have $30,000 or even $100,000 in student loan debt.

God loves you and there is hope, but you have dug a deep hole and you need to work extra hard to get out of it. The first thing is to not dig your hole any deeper through additional borrowing. Cut up any credit cards and if you have cars you can't afford (defined as cars with loans on them), sell them and get something inexpensive for cash until the student loans are paid off.

Put all your family energy in to getting these loans paid off. Selling things and second jobs can accelerate your progress. Take a course like Financial Peace University offered by Autumn Ridge Church to learn a Biblical and time honored way to do this. Most families or singles can be debt free except for your mortgage in 3 years.


Brian and Lisa Petersen, lead the Financial Peace University course at Autumn Ridge Church. They just finished leading their 10th class, where over 400 people have been trained in the Biblical principles of money management. Each family situation is unique and they welcome your questions and dialog on this important topic.

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