Jennifer Calonia

Now that your child is legally an adult and is college-bound, he or she might be eager to get their first credit card. Although credit cards have long been a hallmark of financial independence for young people, today, students under 21 face greater credit card barriers than previous generations.

With the cost of college increasing every year, more students and parents are leaving higher education with ballooning student loan debt. If you’ve finally gotten out from under the weight of your student loans or your child’s student debt, you might be wondering what’s next? The hundreds of dollars you save by having paid off your student loans can be put to good use, helping you achieve other goals.