You've probably heard some of the startling student loan statistics out there. With a cumulative debt reaching trillions of dollars nationwide, you may even be one of the undergraduates struggling to pay back the cost of your college degree. Perhaps search Google for the current statistics – the costs keep growing.

That's the basic student loan picture. But, what about the other stuff? For the majority of new grads, college debt is more than just student loans. For example, Sallie Mae tracks the average student credit card debt, too, in addition to student loan obligations.

Perhaps it was recommended by a parent or provided comfort for emergencies. Maybe the rewards program was appealing to you ... or the card company was offering free stuff in exchange for signing up. However it happened, more than half of college students have a credit card, according to a study by student finance firm Sallie Mae. And perhaps you're one of them.

All those extra costs...

Books

When you factor in the cost of books and other required supplies, student loans may not provide a lot of wiggle room to get the stuff you need to do the actual "college" part of college. While some student loans cover these costs, this one's particularly susceptible to other credit given the price tag.

Gas

This one's another expensive necessity, especially for commuters who have to gas up to get to class. That pad off campus also slowly piles on the miles. The occasional trip home may also require a swipe at the pump when you're short on cash.

Food

Let us not forget the optional sustenance you turn to when the meal plan on campus isn't cutting it. Fast food or a nice meal can be a credit trap for college students who don't realize how much the cost will be after interest is applied. For example, if you carry $2,000 in post-college debt on a credit card, it could take nearly seven years to pay off at the likely 2% minimum payment. So, that $15 pizza could balloon many, many-fold once you get around to paying it.

Laptop

While not necessarily a necessity, it's a common sight in the classroom and a pretty standard tool for study. It's also a larger expense that's often overlooked in a college budget, especially for those who may need a replacement or upgrade. Did you opt-in for a new tablet, too?

Other Stuff

College wouldn't be college without a little fun on the social side. Concerts, extracurriculars, the daily cup of coffee, or maybe even a spring break vacation won't come easy with a limited income.


What To Do With It All

If any of this sounds familiar, you've probably got post-college debt outside of the student loans. Just like school, you're also starting out with a limited income. Or you may be a more established young professional dragging around college debt with high interest rates.

Just like those student loan debt stats you've heard about, you're probably also seeing more and more student loan refinance options offered by both web-based banks and brick-and-mortar financial institutions.

The student loan refi – trading in your loans for a single payment, new term, and a better rate – can save thousands. It's a great move for many.

And what about that other college debt: books, gas, food, laptop, and other stuff? What if you could transform the multiple loans and credit card bills into one?

Good news, there are great options out there like the Any Purpose Signature Loan from Visions that can help you take a big-picture approach. You can take all your college debt, lower your interest rate, and even pay it off faster under a new term. If you made some less-than-wise decisions with credit in college, a comprehensive loan is a smart solution now.

If you're a homeowner, you could even go the home equity route and consider a HELOC. We have options, and we're here to help. Whatever your circumstances, connect with one of our lending experts at your local branch or consider reviewing your debt with one of our nationally accredited financial counselors
 

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