Student Visa

Written by Kathleen Gagne
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Most college students are learning money management for the first time in their lives. They have to deal with college loans, budgeting, and making good choices in ways that they never faced when Mom and Dad were around to advise them on a daily basis. This situation, of course, is fraught with financial peril, and Mom and Dad may be destined to do a lot of worrying.

Using Student Visa Cards

Sometimes, those first steps to financial independence can run over rocky ground. It makes sense, then, for parents to provide some up-front counseling as well as an "emergency relief" net. Make sure your child has a checking account and understands how to use both checks and debit cards. It's also a very good idea to discuss how to budget a semester's worth of funds.

Fortunately, you can also help your student to get his or her first credit card and designate it as an emergency resource. Many credit card companies offer student Visa cards. These cards provide a way for parents to ensure that their student will have a way to deal with any crisis. Of course, parents should also define what constitutes a crisis.

Some of the added features offered with Visa cards for college students are online banking options, the ability to build a credit history, zero liability on unauthorized transactions, and even online credit management resources that help students build strong credit. Photo cards offer students a greater level of security should their cards become lost or stolen. Encouraging your student to use his or her new credit card wisely is a good start.

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