College Student Opens Up About Her $30K of Debt

I recently came across a video from YouTube vlogger and analyst TiffanyFerg where she dives into the details of her personal and student loan debt.

Not many people are willing to place a spotlight on their finances, so Tiffany’s discussion of her debt is a rare glimpse into the challenges many college students face.

Watch the video here: https://youtu.be/tku2C-DgA6s

In the video, Tiffany talks about how she accumulated her debt, which includes about $10,000 in credit card debt, and over $27,000 in student loan debt.

“I thought that at 19 years old, I understood the value of money,” she states when describing her mindset at the start of her college career. Her expectation was that she would graduate in four years, find a good job, and pay off her debt.

But that’s not quite how her story plays out. After struggling in the first few years of college, she elected to take a break from school. At age 24, Tiffany is now in the process of finishing her undergrad at CUNY.

However, as a result of her break, the six-month deferment period on her loans ended and she was required to start making payments.

Adding to her mounting student loan debt was a habit of using credit cards to supplement her income.”I relied on credit cards as a crutch,” she admits, “it’s just thousands of tiny little moments and things, expenses that I needed to pay for that I just threw on a credit card.”

Fortunately, Tiffany is taking accountability for her debt, and by discussing it openly with her audience, she is hoping to inspire others in similar situations to do the same.

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