Marriage and Student Loan Debt

January 17, 2019

Ever been on a date where the other person doesn’t stop talking about their ex? If you’ve had this experience, you can likely relate it to discussing your student loan debt in your relationship. Talking about finances is a necessary evil in a marriage. It can be difficult to discuss finances in a marriage because many people handle finances different based on their personal experiences and how their parents handled them. You might be great at adulting, but if your parents were never open about managing money, you’re probably unsure of how to bring it up. You might even be unsure as to where to start when it comes to managing finances together. Student loans are a big part of many couples’ financial reality. Figuring out how marriage will affect your student loans is an important part of managing your money together. Here are some main points that we think you should know about marriage and student loan debt.

Honesty

The fastest way to create a rift and cause problems in your relationship is to hide information about your finances. According to C reditCards.com, 6% of Americans in a relationship have hidden credit cards or checking/savings accounts from their partner. That total adds up to about 7 million, for perspective, that’s the size of the state of Massachusetts. It’s not uncommon especially in younger people ages 18-29 to withhold some financial information. It’s when a partner begins to lie about large purchases that a partner should become concerned.

People might think that love solves everything, but it’s better to be on the same page and realistic about the situation. If you are mature enough to get married and really want to work together to succeed, you need to face your finances. As a couple, you need to get over any fears about assessing the financial situation and air everything out. It doesn’t have to be painful but it needs to be an honest outlook. For some couples, this can seem really overwhelming but it doesn’t have to be.

Get Tips on How to Talk Finances With Your Partner

Get a Plan

Have a conversation about how to best review everything. Discuss each of your finances and then surmise a plan to tackle them. Now in some cases, it may not be this simple depending on your income level, occupation, and level of debt. You may want to meet with a financial counselor first and go over everything together, or sit down as a couple at home and discuss the basics before moving any further. It’s totally up to you both, as a team.

Don’t be shy or embarrassed by your financial situation as a couple. There are people who make a living on making sure couples are financially confident and ready to tackle financial goals together. Don’t overlook this benefit of consulting with an outside source about finances—especially if you feel like you don’t know what you’re doing. If you can’t afford an outside counselor check online, you may be surprised at the educational resources available for free. When it comes to self-learning about finances just be careful how you select your resources. As the old saying goes not everything you see online is true!

Loan Responsibility

When the person you’ve chosen to marry has student loan debt you can face some challenges. If you haven’t co-signed for a spouse and it’s just their name on the loan, this won’t be something that shows up on your credit report. Beware that even if you did not co-sign your partner’s loan there are instances when you might be responsible for paying the loan. Student loans aren’t that different from other types of loans.

For example, if someone passes away, the rest of their loan will likely be forgiven and the spouse would not have to continue making those payments. There are some cases where death will not discharge the remaining debt and the loan company may contact the estate for payment. If your spouse ever lost their income and went into default, the loan companies will look for someone to pay. If your spouse doesn’t have an income, your wages could be garnished. It’s a pretty extreme scenario, but it also happens and is something you should be aware of.

If you are choosing to marry someone with student loan debt, it’s important to talk about this. You’ll want to have a plan set up for each of these scenarios. Though they are extreme if you have savings and you pay down your debt responsibly you shouldn’t have any problems.

Repayment Plan Adjustments

IBR and other types of repayment plans are often used when paying back student loans. We would caution against using these programs. In some cases, your monthly student loan payment may not be covering the interest accrued that month and therefore your balance will continue to increase.

Repayment plans can be based on your household income and family size. When you get married your income and family size may change. If your spouse makes a considerable amount of money, your minimum payments could go up even with your family size going up. If your spouse makes less than you or is not working, your loan payment could go down. It all depends on the details of your financial situation and your loan servicer, but it’s worth noting that this is a possibility.

Refinancing

Fairly often we receive request to refinance couple’s student debt together. Many see this as creating a lot less hassle for themselves by creating only one bill. That’s not always possible, and many experts suggest keeping your loans separate in case your relationship status or financial situation changes in the future. You are not always able to refinance together, either. Whether or not you can refinance your student loan with your spouse will depend on the loan type and servicer you have. If you’re looking into refinancing, talk to each other about goals. Do you want a lower payment so you can save for a house or do you want to pay loans off sooner so you can live abroad or go to grad school? Again, it’s up to the two of you, but you can’t be on the same page if you don’t talk about it.

Don’t stress.

Take a deep breath and know that it’s normal for people to get stressed out talking about money, but it doesn’t have to be that way. No matter how much money you make, you will have to work together as a team to set priorities. This isn’t a blame game. Just talking about finances doesn’t mean that you’re secretly harboring any resentment or grudges. No one is being attacked and no questions are stupid. You both have to agree to create an open dialogue where you both feel good about discussing money and plans. Know that sometimes there are compromises, or one of you might change your personal plans to advance the other. That’s what it means to be a team.

Tips for Finding the Perfect Lender to Refinance Your Student Loans

Scenario 1 - Paying Down Debt Student Loans Then Investing

Let’s start off by taking a look at how you can pay this debt down faster. Did you know that if you pay an extra $100 a month in addition to your regular student loan monthly payment, you’ll save $4,464.13 in interest paid? Not only will you save money by paying extra every month, but you’ll cut down the overall repayment period by a year and a half. Yes, you’ll be debt-free a year and a half earlier than you thought! $812.76 + $100 = $912.76 Monthly Payment After being debt free sooner than expected, you may decide to start investing in your 401(k). If you put all of the money you were paying from your student loan into your 401(k), you’d contribute $1,094.31 monthly. You may be wondering how you can contribute more money towards your 401(k) than your student loan payment. The answer lies in taxes. Student loan payments are made with post-tax income. 401(k) contributions are made with pre-tax income. Since a traditional 401(k) account uses pre-tax income, you are able to contribute more towards your 401(k) than you would have your student loan debt with the same income. Though you don’t pay taxes on 401(k) contributions, ordinary income tax will be applied on 401(k) distributions. $912.76 / (1-16.59%) = $1.094.31 Monthly Contribution After a year and half of contributing $1,094.31 per month, compounded monthly, at an assumed 7% rate of return, you would have $20,826.09. The investment amount of $20,826.09 combined with the student loan interest savings of $4,464.13 would give you a total 10-year net value of $25,290.23.

Scenario 2 - Investing While Paying Down Student Loan Debt

If you have a higher priority of saving for retirement than paying off your student loan debt, you may want a different option. Let’s see what would happen if you decided to put that extra $100 a month into a tax-deferred 401(k) account. The $100 would be contributed to your 401(k) account instead of your student loan debt balance, but you would continue to make monthly student loan debt payments. Due to the pre-tax nature of a 401(k), your contribution of $100 post-tax would become $119.89 pre-tax. $100 / (1-16.59%) = $119.89 Monthly Contribution With an assumed 7% rate of return, compounded monthly, on your 401(k), you will have approximately $20,872.19 in your 401(k) after 10 years.

Scenario 3 - Employer Contributions 401(k)

Some employers will match your 401(k) contributions up to a certain percentage of your income. This could be a real game-changer. Turning down your employer’s 401(k) match is like throwing away free money. If you have student loan debt, but your employer offers a match, consider contributing to receive the maximum employer match. If you contribute $119.89 a month with an employer match while making your normal student loan payments, your money can really grow. If your employer matches the 401(k) contribution dollar for dollar, you will double your investment of $20,872.19 from Scenario 2 to $41,744.37 in your 401(k) account after 10 years. Contributions to a traditional 401(k) are made prior to your income being taxed. The withdrawals on a traditional 401(k) are taxed. The tax rate that is applied to your withdrawals depends on your tax bracket in retirement. As the average person’s career develops, they typically continue to increase their salary and move into a higher tax bracket. Upon retirement, they will see a decrease in income and move to a lower tax bracket. This means your 401(k) withdrawals could be taxed in a lower tax bracket if done while in retirement, instead of in your working years. Note that this will only be the case if your retirement income is less than your working income.

Scenario 1 – Paying Down Then Investing

Scenario 2 – Investing While Paying Down Debt

Scenario 3 – Employer Contribution 401k

As you can see from the chart above, investing while paying down student loan debt or paying down debt than investing produces almost the same total net value. One debt pays down and investment strategy might perform better than the other depending on the return in the 401(k) account. It’s important to keep in mind that the returns on a 401(k) account are never guaranteed The real deciding factor on whether to invest or pay down your student loan debt will be if an employer offers a 401(k) match. Matching contributions from your employer will make investing significantly more attractive than paying down debt. If an employer match to your 401(k) is available, it’s wise to take advantage of it. Your comfort level with your student loan debt can be a large factor in your decision to invest in a traditional 401(k) account or to pay down debt. Knowing whether you are more interested in being debt free or being prepared for retirement can help you make a decision. Let’s look at how student loan refinancing can help you amplify your student loan debt pay down and investment strategy. In Scenarios 1, 2, and 3, the big question was whether you should use the additional $100 a month to pay down student loan debt or invest in a 401(k). What if you wanted to spend that $100 a month instead? Is it possible to find a way to save on student loan debt while spending that extra $100 a month? You’re in luck! This can be done with student loan refinancing.

Scenario 4 - Refinancing Student Loan Debt

By refinancing your student loan debt, you should be able to decrease the high-interest rate of your student loan. In addition, you should be able to save money over the life of the loan and in some cases monthly. The total interest you would have to pay on your student loans of $70,000 at 7% interest over 10 years is $27,531.12. If you qualify to refinance your student loan debt to a 5% interest rate, the total interest you would pay is $19,095.03. This would mean that refinancing your student loans would be saving you $8,436.09 in interest over the life of the loan or $70.30 a month. When comparing your new 5% interest rate to your previous interest rate of 7%, not only would you be saving over the life of the loan, but reducing your monthly payment! $8,436.09 / 120 = $70.30 Monthly Interest Savings

Learn More About Student Loan Refinancing

Scenario 5 - Refinancing and Paying Down Debt Then Investing

Now, what happens if you refinance your student loan debt, pay down the debt, and then start investing? Refinancing your student loan debt will cut your interest rate, saving you $70.30 a month, making your monthly student loan payment now $742.46 instead of $812.76 per month. By taking the additional $100 a month and the $70.30 in student loan savings from refinancing and applying them to your monthly student loan payment, you will be debt free two years and three months sooner than expected. Two years and three months are earlier compared to the one and a half years from Scenario 1. Just a reminder, in Scenario 1, there an additional $100 a month put towards your student loan debt. With refinancing and making the same monthly payment as Scenario 1, you will save $13,017.87 in interest over your original loan. $742.46 + $70.30 + $100 = $912.76 Monthly Payment Now that you’re debt free, you can use the money that would have been used for your student loan payment to contribute to your 401(k). Since 401(k) contributions are done with pre-tax income, you will be able to contribute a pre-tax amount of $912.76, which is $1094.31. $912.76 / (1-16.59%) = $1.094.31 Monthly Contribution After two years and three months of contributing $1,094.31 per month, compounded monthly, at an assumed 7% rate of return, you would have $32,085.89. The investment amount of $32,085.09 combined with the student loan interest savings of $13,017.87 would give you a total 10-year net value of $45,103.76.

Scenario 6 - Refinancing and Investing While Paying Down Debt

Now let’s try refinancing while you simultaneously pay down debt and invest. In this scenario, you will cut down the interest rate on your student loan debt from 7% to 5% by refinancing. You’ll be contributing the pre-tax amount of the extra $100 a month and $70.30 a month in interest savings towards your 401(k). You will end up contributing a total of $204.17 a month to your 401(k) account. ($100 + $70.30) / (1-16.59%) = $204.17 Monthly Contribution With an assumed 7% rate of return, compounded monthly, you will have approximately $35,544.87 in your 401(k) after 10 years. Combined with the interest savings of $8,436.09, you will have a total net value of $43,980.96.

Scenario 1 – Paying Down Then Investing Scenario 2 – Investing While Paying Down Debt Scenario 4 – Refinancing Student Loan Debt Scenario 5 – Refinancing and Paying Down Debt Then Investing Scenario 6 – Refinancing and Investing While Paying Down Debt As you can see from the chart above, just from refinancing your student loan debt, you can save money and increase your total net value. If you take it one step further and supplement your debt pay down and investment strategy with student loan refinancing, you would approximately double your total net value! By taking advantage of student loan refinancing, you will be able to supercharge your debt pay down and investment strategy. For those who are just trying to save money on student loans or have more money to invest in their 401(k), student loan refinancing is the way to go.

Check Out Our Guide to Student Loan Refinancing

NOTICE: Education Loan Finance by SouthEast Bank is not authorized to provide tax advice or financial advice. If you need tax advice or financial advice contacts a professional. All statements regarding 401(k) contributions assume that you have a 401(k) plan and that you are able to contribute those amounts without contributing more than the current federal law limits. Third Party Web Sites Education Loan Finance by SouthEast Bank is not responsible for and has no control over the subject matter, content, information, or graphics of the websites that have links here. The portal and news features are being provided by an outside source – The bank is not responsible for the content. Please contact us with any concerns or comments.

2019-04-12

Comparing Salary to the Cost of Living

Recently, CNBC released an article discussing student loan debt in relation to locations throughout the United States. This has many questioning whether they can find a job title in their field where they want to live, that will support their current bills, payments, lifestyle, and student loans. Depending on the location and cost of living, you could be making thousands less in one location when compared to another. To add more insult you could be expected to pay off more than you are capable of based on your location. When searching for a career path, it’s vital to consider where your job title is going to be the most successful and where you can afford your current lifestyle. Here are some important factors to keep in mind when

Location Expenses

Consider the cost of living in a variety of locations. Everyday costs like food, housing, utilities, and transportation can all vary depending on where you live in the United States. Let’s see how a location can be affected by each of these variables. Generally, big cities are known to be more costly compared to rural areas. The Bureau of Economic Analysis tracks price levels for food, housing and education in each state and compares them to the national level. This information can be put into a dollar value scale to simplify which states are more expensive to live in than others. For example, the value of a dollar in New York, Hawaii, and California is less than the national average dollar. Meaning your dollar bill is comparable to some cent values in other locations. In states like Kansas, Kentucky, and Ohio that are not as urbanized the dollar values higher than the national average dollar. Meaning your dollar goes a little further in these areas.

Housing Costs

You may be asking, “What makes big cities so pricey?” and there are actually a few different reasons. The main drive for high priced locations is housing. For cities with a high population, there needs to be an abundance of housing. A high population causes overcrowded cities to have a limited amount of space for the number of people wanting to live there. A high housing demand creates steep prices in the market because everyone is in need of a place to live. If the city life is looking a little out of budget for you, remember living outside the city and commuting is an option, and may be more cost-effective. Aside from the costs of housing, costs like transportation, utilities, and insurance may affect the cost of living.

Transportation Costs

We all know how expensive a car, gas, and maintenance can be. When commuting to work or even the supermarket, the distance between point A and point B will affect the amount of money you spend. .Whereas, living in the city you may literally be paying for convenience. You may be spending $200 or more a month on a permanent parking spot for your car, in addition to spending money on transportation fees. For example, in New York you could take a bus to the subway station, costing you around $2.50. Then you commute to work on the subway, costing you another $2.75. If you do this twice a day (at least) the commute will cost $10.50. Spending $10.50 five days a week for a month will get you to a grand total of $210.00 not even considering additional outings. Please note that these prices may not be the same for all locations. For example, the average bus fare in Los Angeles is $1.75, but in Washington DC the bus fare ranges from $2.00-$5.00 depending on the commute.

Utilities

Utilities will also affect the cost of living, the amount depending on where you live. The cost of utilities can vary based on government regulations. Things like how much water, electricity, and gas, you are consuming can be dependent based on the weather where you are located. If you are living in a location where the winter can get very cold, that could be making a dent in your wallet on utility bills. For example, Alaska, Connecticut, and Massachusetts have an average electric rate of $21.62 per Kwh (kilowatt hour) a month. In a place where it is always warm like Hawaii, the air conditioning may be used more frequently and the average electric rate would be $32.40 per Kwh a month. Additional utility costs may include garbage removal and sewage costs. In the United States, the average cost for garbage removal is from $12.00 -$20.00 a household. Sewage rates are usually included in water rates that can be viewed with the electricity bill and can altogether be around $50.00. In some cases, if you are living in an apartment, utilities like garbage removal and sewage will be included in your rent, or it can be separate on your electricity bill. Talk to your landlord or call housing management to find out what is included.

Insurance

Besides housing, transportation, and utilities, you will have car insurance, renter’s insurance. The average rate for car insurance in the United States is $118.63 per month but can vary based on the location you are in. For example, the average cost of auto insurance in North Carolina is $865 each year while the average cost of auto insurance in Oklahoma is $1,542 a year. T Auto insurance pricing can depend on the company you have insurance with, your age, and even your gender! For example, some companies will have a 1% price difference between genders. If you choose to live in the city, it’s likely you may find yourself renting. Renter’s insurance is an additional cost you’ll want to consider. The average, renter’s insurance in the United State is $187 per year. Renter’s insurance can be more expensive in some areas due to population and crime. If you live in a high populated area, insurance could be priced higher because the crime risk is higher. The insurance company takes greater measures to cover your belongings in high populated areas. Renter’s insurance in Florida has an average rate of $217 per month, while in South Dakota the average rate is $118 a month. Before completely scaring you back into your parent’s house for life, there are a few resources you can use to find a job and field of your choice, in areas that could be most profitable.

Job Search Resources

SimplyHired

https://www.simplyhired.com/salaries SimplyHired will estimate the salary your specific job will be making in different locations. All you have to do is type in the job title you are looking for, and the city and state, into the search engine. Using this tool you can find out things like a nurse can make $50,000 in Dallas, Texas but, in Indianapolis, Indiana is making closer to $40,000. Although this does not calculate the cost of living, this website pulls up jobs from all over the United States. SimplyHired gives users easy access to salary information when starting to compare careers in different regions.

Check Out These 3 Steps to Negotiating Salary

Expatistan

https://www.expatistan.com/cost-of-living/nashville Cost of living is an important factor when searching for a location that is right for you and your preferred career. Hence why we created this helpful blog! Expatistan has a feature that pulls up a spreadsheet estimating how lifestyle choices may cost in different cities or even countries. For example, when searching in Nashville, Tennessee, Expatistan created a page that included potential prices for food, housing, clothes, transportation, personal care, and entertainment. Expatistan estimated: Rent 900 Sq Foot Apartment - $1,408/month Lunchtime Meal - $14 Sports Shoes - $98 Shampoo- $6 This website is a great place to find detailed estimates of what you may be spending on everyday items. A tool like this can be very helpful when trying to manage the salary and lifestyle you are looking for.

CNN Money

https://money.cnn.com/calculator/pf/cost-of-living/index.html After finding an estimated salary and cost of living for a specific location, you can compare it to other areas with CNN Money Cost of Living Calculator. You’ll need to input

where you live now
where you are considering living
give an estimate of how much your salary is now (or what the salary is in the field you are searching for)

Based on the information provided, the calculator will estimate how much you would be making somewhere else. For example, if you live in Atlanta, Georgia right now and are making $50,000 a year, and you would like to move to Bozeman, Montana, the comparable salary is $50,709, which is around the same amount. Now if you moved, from Atlanta with a $50,000 salary to San Francisco, the comparable salary is $97,470. Once again, the cost of living will factor in what you can afford in each region. Comparing salaries, regions, and the cost of living can help you determine where you’re aspiring jobs can be the most beneficial for your lifestyle. Consider where you will have the most financial wiggle room. Educate yourself on the cost of housing, transportation, utilities, and insurance before jumping into the car moving to a new city. Optimize your options by looking at the cost of convenience versus living outside of a location for less and other opportunities. What city you will feel the most at home in? If you are not satisfied with your options, try a different job title or location, you’re not a tree. Scope out all of your alternatives and find one that betters your lifestyle in the long run.

Top 7 Money Mistakes For Young Professionals

NOTICE: Third Party Web Sites Education Loan Finance by SouthEast Bank is not responsible for and has no control over the subject matter, content, information, or graphics of the websites that have links here. The portal and news features are being provided by an outside source – The bank is not responsible for the content. Please contact us with any concerns or comments. Resources https://www.usatoday.com/story/money/economy/2018/05/10/cost-of-living-value-of-dollar-in-every-state/34567549/ https://ask.metafilter.com/37074/Why-is-it-more-expensive-to-live-in-a-city https://www.priceoftravel.com/595/public-transportation-prices-in-80-worldwide-cities/ https://www.chooseenergy.com/electricity-rates-by-state/ https://www.thezebra.com/auto-insurance/average-auto-insurance/#state https://www.valuepenguin.com/average-cost-renters-insurance#nogo https://www.valuepenguin.com/average-cost-life-insurance#nogo

2019-04-04

How To Find The Best College For You

Picking the right college for you is quite a task. There are so many to choose from! Plus, with the birth of digital experiences, vlogs, and just plain slick marketing materials, it can be a challenge to determine what matters when making such a big decision. It’s important throughout the college search process to remember the main goal which is getting an education. It can be easy to become distracted by the brand new apartments on campus and the conveniences that the college offers. Yes, it’s important to be comfortable while attending school, but it’s not worth losing out on education. How do you find the right college for you? Here are some things that you should take into consideration. Not every aspect will matter to you, but it’s nice to think about big-picture options.

Major Malfunctions

The major that you’re interested in studying and how the college meets the major’s needs could be a huge deciding factor. For example, does the college have a good reputation, appropriate resources, and a notable department? Really take into consideration what the school’s reputation for the program. Is your major available and are there classes that will challenge and engage you? Is the reputation of the college’s program going to further your career upon graduating? Most people know their preferred major or industry before starting, but it’s common for college students to change majors. Does the school have a few appealing options for you? Get in touch with an advisor or the head of the department of your choice and see how you can find out more. You are attending college to further your education and get a career, so if that program isn’t available that could be deal-breaker.

Location, Location, Location

Have you always wanted to live on the east coast, dreaming of the mountains, or would you prefer to stay closer to home? Being close by to your family and paying lower in-state tuition could be great options for you. A school in the city could be a better option since you’ll have the ability to take in everything that urban life has to offer. From expansive green grounds to bustling urban towers, there are so many different types of locations you could pick. Don’t rule anything out too soon. You might be surprised how friendly a university in the city can be, or how lively you’ll find a more rural campus. When selecting a school it’s important that you consider the distance from your home. Many people often times will want to be available to go home on some weekends or for big events. What the cost is to go home? Can you take public transportation, can you have a car on campus your first year, can a friend or parent pick you up, if needed? A primary consideration for location is the cost. In-state-schools provide a much lower cost to attend than an out-of-state school. If you know you’ll need to borrow student loans for college it may be best to stay with an in-state-school. Paying to attend an out-of-state school will mean more money you’ll have to borrow and eventually pay back. Your decision on school location should be influenced by your comfortability level with being away from home and the cost associated with the location.

Tally Total Cost

Cost is a huge factor in selecting a college. Fees aren’t only limited to tuition but can be dependent on the school. One school may have lower tuition, but fees like room and board, off-campus housing, meal plans, or transportation. We touched on this previously but, if you opt for a school that’s farther from home, how much will you spend coming home to visit? If you really want to go far away from home you may need to factor in the cost of airfare to visit home. Plus, look into fees like a parking permit and departmental fees. It’s worth doing a little math to see what the total cost is before you get your heart set on one or another.

Finding Financial Aid

If you can qualify for financial aid and are being provided with financial aid from a college that should heavily impact your decision. Can you get more aid at one school vs. another? Are there more scholarship options available through one college over another? Does staying in-state offer enough benefits that you don’t want to leave? There’s nothing wrong with picking a school because it will offer you the most aid. Aid is especially important if you are borrowing money to attend college. Even if the school doesn’t check all of your other boxes for wants, the cost savings could help make it a front-runner. Make sure you check into scholarships and applications for aid before you make your decision.

What You Need to Know About Scholarships for College

Culture Shock

Schools usually have a discernible culture that students or faculty can feel and describe. For instance, a school with a robust exchange student program might be more inclusive and have a culture that appreciates diverse perspectives. Another school might be steeped in tradition and fit better for someone with traditional values. Schools with bigger arts programs or specialties in STEM could have a culture all their own. You really can’t get a good depiction of the culture from marketing materials. Understanding a school’s culture is the kind of thing you can ask while visiting or inquire about online in places like forums or Reddit.

Sweet Student Life

You will be spending a lot of time on campus. Even if you are non-traditional or live off campus. You should take advantage of entertainment, attending special activities, and participating in one or more organizations. Maybe you want a certain Greek life experience—check into it! Ask around and see what the reputation of campus life is like. Look at upcoming events and see what types of organizations you can join. It can be difficult the first year to make friends and get connected into a social group. Well-supported campus life can make this big task a breeze and set you up for some awesome lifelong friendships and memorable experiences.

All About Amenities

Relatively little things can make a big difference—especially if you’re between a few schools or have close contenders. Think about recreation and facilities on campus, what their sports, athletics programs or teams are like. Does the school have a special connection to a family member or your culture? Small things like cafes that better serve your dietary needs or campus dining options that stand above the rest can weigh into your decision. Your decision should not be based solely on these relatively small things, but if you’re on the fence of two universities it could be what gives you the push needed. It’s important to understand how you’ll be financing college before you start looking at the school. If you plan on financing college by taking out student loans, they can impact your future. Once you understand your finances, you’ll be able to prioritize what is most important to you and start there. Remember too that schools usually have lots of opportunities for you to visit and learn more. There are entire departments of people whose job it is to acquaint you with the campus and community. Don’t be afraid to reach out and ask questions. Go in person and get a feel for the school if you can. Don’t forget to connect with potential faculty for your preferred major. You’ll probably learn a lot about what life would be like as a student, which will help make your decision much easier. Happy school hunting!