As Americans climb out of difficult financial times, student loans remain an economic barrier to many, with loan debt growing in every quarter since 2003. Repayment is a burden for many current students and graduates. What can you do to rid yourself of the debt accumulated?
I recently spoke with a community college graduate who smartly navigated his way out of educational debt through leveraging his proficiency in a second language. Though highly intelligent and proficient in their own languages, many students at his school were having trouble mastering English, and needed someone to fill the gaps introduced by textbooks and professors. The graduate spent some of his free time tutoring students in the library, but before long he had expanded to online tutoring as well.
Current students and grads don’t have to move far to make money; a number of people make sizable profits by roving online opportunities. Those who speak a second language land jobs, leveraging multilingual skills to consult, tutor, translate documents, and address other tasks. You may not think that moving “learn to speak Spanish” to the top of your to-do list makes sense, but here are a few reasons why investing in that second language is a fiscally sound move. [Read more…]