Everyone wants to boost their income resources but most college students in the US are trapped in the vicious cycle of debt due to their rising educational loan debts. With the rising educational costs, most students are taking educational loans to finance their education. This is increasing the student loan debt level in the US and more and more students are looking for alternative sources of income. Students are very vulnerable to financial risks and therefore, it is very important for them to know about the investment market if he is thinking of investing and earning money to pay off his debts. The consolidation services could not financially satisfy the students and therefore theyíre all thinking of taking a plunge in the investment market. Have a look at the investment opportunities of a student.
* Try investing in a Roth IRA account: If youíre a college student who is looking for alternative ways to boost your income, they can try investing money in a Roth IRA. You must be wondering how a Roth IRA fits the bill of a student who is already in enough student loan debts. Well, if you want to earn money that will not be subject to tax, investing in a Roth IRA is perhaps the most viable option for students. As you deposit money in a Roth IRA, your money is going to appreciate with time and there will be no taxes that you can pay while you withdraw it after you retire. This is a safe investment for most students where there are very little risks involved.
* You can invest in silver: Silver is relatively cheaper than gold and therefore its value are much more depressed. According to a recent report, it has been seen that the value of silver has grown faster than gold in the year 2010. The growth percentage of silver was 4% while that of gold was 1%. For the entire young crowd who are seeking to make money and build their future, investing in silver may become like a gold mine. Keeping in mind the low cost of one ounce of silver compared to that of gold, investing in silver will be a lucrative opportunity for college students.
* Invest money in a savings account: Another great option for most students is to invest money in a savings account. If youíre a college student, you must be having a bank account with a reputed bank. Making a basic savings account does not need too much of money investment and you start off with a small amount. Itís best when you do not withdraw the amount more frequently. The savings account usually does not require credit or debit cards but you can tie it up with your checking account.
Most college students are going through too many financial worries and putting aside money for paying off their financial obligations is becoming increasingly crucial. Though consolidation services can help students pay off their student loans, yet investing and utilizing the proceeds can help you get easy cash. Follow the investment opportunities mentioned above so that you can get rid of your financial obligations.
