20. Spending Loan Money Inappropriately
When you receive your loan check, keep this in mind—in no way, shape, or form is it your money. The banks fool you by putting your name on the check. You think you're major now. Three meals a day, the hottest sneakers, and drinks on you at the club should not be expensed to your financial aid account.
A few months after you get your diploma, the lending company, whether it's a private bank or the federal government, wants that cash back. You knew what this was from the beginning. Now is not the time to make excuses. Instead of ballin' out of control with borrowed dough, after you've paid necessary educational fees, put all remaining money into a savings account. When the loan offices hit you with the "fuck you, pay me," you'll be able to repay them and they'll won't reak havoc on your credit score.