College can include some of the best years of your life, but it can also be the start of debt if you make some irresponsible financial decisions.
Tuition is increasing by two to three times the overall rate of inflation, according to the United States Bureau of Labor Statistics, but now it is easier for students to get student loans to pay for college. Students and parents have to pay a bigger share of college tuition now than before due to the changing economy.
According to finance professor John Lajaunie, having the easy access to get student loans will only put students into more debt in the future.  Rather than spending money on future needs such as a house, a car or towards family, people will have to pay off their student loans instead.
Whitney Rebstock, art sophomore from Raceland, was not fortunate enough to have all the funds to pay for her college.  “I am kind of scared of my loan hurting me in the future. I had to take out a loan to live on campus, and I am worried about it. I am hoping to start paying it early next year, maybe when I transfer,” Rebstock said.  
There are things that people can do to not spend as much money on ‘want’ items to prevent them from going into debt in the future, or so that they can save for the future to make retirement more feasible.
Abbey Joseph, education junior from Lockport, said, “A few ways I can cut back on my spending is by only getting the things I absolutely need and not just the things I really want. Also, by eating at home more rather than always wanting to eat out with my friends.”
Lajaunie said habits learned about spending now will carry over to your professional life, which will cause you to have a more financially stable life in the future.
Students need to step back and ask themselves about their own self-consumption. Getting the top of the line laptop, the newest iPhone or the newest game system at the time should not be a priority in college student lives, according to Lajaunie.
Lajaunie’s biggest concern is that in the future, people will not be able to retire due to spending too much money on items that should not be important in people’s lives. “People need to get out of the ‘I got to have it now’ mentality,” Lajaunie said.  
Some students are fortunate enough to have the funds to pay their college, so they do not have to get loans and hurt their future with debt.
Katie Champagne, freshmen from Raceland, said, “I don’t have student loans, but I still save money by not eating out as much and buying things that are mostly on sale.”
According to United States Department of Labor, instead of spending money on items you do not necessarily need, you should start saving for your retirement because retirement usually lasts twenty years.