Establish 'debt' is money you owe and 'credit' money you borrow. Before you borrow money, you should know how much you'll have to pay back, how you'll afford it and when you'll have to do it.

Doug Wintemute is a staff writer for Forbes Advisor. After completing his master’s in English at York University, he began his writing career in the higher education space. Over the past decade, Doug ...

Mikeie Reiland is a staff writer for Education at Forbes Advisor. Before coming to Forbes Advisor, he wrote magazine journalism for publications like the Oxford American, Bitter Southerner, and Gravy.

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If you purchase an independently reviewed product or service through a link on our website, Rolling Stone may receive an affiliate commission. If you’ve cut the cord on cable, there are a few big ...