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• Tip #86: Make learning about money a priority

• Whether you attend information sessions at the financial aid office, read about money in books, or meet with your bank’s financial officers, learning how to manage your money is an important part of school life. For many students, their time away from home is one of the first times they are responsible for finances – including bills. Learning to handle this responsibility well early on in life ensures that you will enjoy a good credit standing your whole life. Learning about money will also help you prevent costly credit mistakes.

• Tip #87: Start building credit early – and do it well

• Start building credit early – even before college starts, if you plan on taking out college loans. Ask your parents to sign over a bill that you pay on time each month. Get a credit card with a low limit and a bank account that you balance each month. Avoid opening several charge cards at once – not only will they be hard to repay, but having several new accounts when you have a short credit history will actually cause your credit rating to drop. Get a part-time job.

• Each of these things can help you establish good credit, high in turn can help you get a good student loan rate. More importantly, establishing credit early will help ensure that you have a long (and good) credit history by the time you graduate from college, which will help you with all your important, large post-graduation expenses.

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