If you're a typical college student, you fit into that "starving college student" stereotype. Once you earn that coveted college degree and land a job in your chosen field, you'll graduate from starving student to gainfully employed professional. Until then, money is probably pretty tight.
When you're struggling simply to make ends meet and pay for the essentials like food, housing, and educational expenses, being blindsided by an unexpected expense is a huge problem. Here are five of the scariest expenses you hopefully won't face in college.
1. Medical or dental bill. Break your arm? Contract a serious illness? Need a root canal? Knock your tooth out? Medical and dental emergencies are expensive, and can't be put off.
2. Plane ticket. If someone in your family becomes seriously ill (or worse), you'll want to go home to be with them and your loved ones. Airline travel, especially last-minute airline travel, is very expensive.
3. Car repair. Sometimes you've got to spend money to make money. If you're working and attending college and drive to work, you rely on your car. If you're living off campus because it's cheaper, you may rely on your car to get to class. If the transmission on your car goes out or the brakes need to be overhauled, expect a hefty repair bill.
4. Natural disaster. Have you noticed the increasing incidences of wildfires, floods, and epic storms that force people to evacuate? College students aren't immune. If you're told to evacuate, you'll need money to pay for a place to stay.
5. Traffic tickets and fines. Speeding tickets and other offenses can cost hundreds of dollars or more.
If you were faced with an unexpected but unavoidable expense, what would you do? You may not have friends or relatives who are in a position to lend you money. You may not want to jeopardize your future by accruing student credit card debt. (Did you know that employers sometimes review job applicants' credit reports?)
Boro specializes in offering low-interest personal loans for college students. Approved applicants can borrow up to $3,000. Simply make your fixed monthly payment on time and you'll be paying off your emergency expense and building a credit history at the same time. You may not need us now. Or ever. If you do find yourself with an emergency expense, we're here. We believe you have a bright future and we want to help you achieve it!