MONEY 09/06/2018 01:20 pm ET It’s your first shot at adulting. Here’s how not to screw it up. By Casey Bond Ah, the college years. They’re a magical time of freedom, self-exploration and screwing up. While it’s OK to make mistakes (we won’t judge), there are some you should try to avoid, especially when it comes to money. So whether you’re heading to college for the first time or returning for grad school, watch out for these mistakes that could cost you big time. Mistake 1: Choosing a school for the wrong reasons. Before you fall too deeply in love with a particular school’s football team or Greek life, take a step back and make sure you know your college budget. One of the biggest mistakes students make is shopping for colleges before fully understanding their ability to pay. “By shopping for schools first, the decision is made emotionally, rather than rationally,” said Dejan Ilijevski, president of investment advisory firm Sabela Capital Markets. “Subsequently, when choosing a school regardless of finances, it’s much easier to take the next step and fill the cost gaps with student loans.” According to Ilijevski, shopping for a school should be the last step after fully… Read full this story
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