How many of you have taken out student loans?? How much are they for??Did you know that if you took too much money you could dig yourself into a hole thats keeps on growing
I dont think students understand this when they take out loans. Loans are OK when you don't take it like it's easy money. But when you take out 100,000 dollars and up you are digging yourself into a hole that will be hard to get out of..
Most people want to buy a car or even a house out of college. That's impossible with a $100,000 debt and I dont care if your a dentist.
My scholarship program doesn't cover summer school, so I took out a loan for $2,200. Other than that, I don't have any loans or plan to take out anymore.
I don't think that was a bad amount I got, because if I get a job part time I can pay that off before graduation.
People take out loans because they have to not because they want to.
All my tuition is paid through loans and some kinda loan my mom gets through her job and also the Payday loan advances my mother gets every once in a while. The loans come from whatever the government says we can borrow so it's not as outrageous as $100,000.
I dont think students understand this when they take out loans. Loans are OK when you don't take it like it's easy money. But when you take out 100,000 dollars and up you are digging yourself into a hole that will be hard to get out of..
Students understand it just fine, here's the deal, not everyone can go through college without taking out loans, epsecially if you're going to a private school. Not everybody gets full rides. For a lot of students their options are as follows: get a loan, join the military and risk your life to try to get money for school, or don't go to school period.
I disagree and say the loans are worth it if you don't have another way to go: Check out this article:
http://www.investors.com/yahoofinance/2004w44/storyA03.asp
Research shows that the lifetime earnings of a college grad is more than $1 million dollars more than a high school grad. So even if you did take out a loan for $100,000 over the course of a lifetime you would more than make up for it. College loans are good debt, they should be looked at as an investment.
Plus contrary to popular belief having students loans does not jack up your credit. As long as you make your payments, you're good. Plus your student loans is deferred until 6 months after you leave school. So you don't even have to think about making payments until 6 months after you graduate, and even longer if you go to grad school. The Department of Education will work with you on paying it back. I think the problem with student loans starts is when people want to forget about them after they graduate and get those nice jobs.
But yeah, like I said there's nothing wrong with loans. They're a part of life. You have mortgages, car notes, small business loans, etc. It's all about how you manage them.
Now if you want to take about some bad loans, talk about credit cards. That's what jacking young folks up. Trying to live beyond their means. Makes me think back to the "Guns and Butter" speech Ving Rhames did in Baby Boy and one of the lines of advice Ice cube dropped in "Higher Learning".
I think if students have to take out loans to pay for education then that's what they should do. I just don't understand how it seems like some students look at loans as free money. I see people that I know get those thousand dollar refund checks each semester and go shopping. That money is not your money, they should be using that refund check to pay back their debt not go on a shopping spree. Putting off paying back a loan is the dumbest thing you can do, if you have the extra money to start paying it back while you're still in school that's what would be the wise thing to do.
I see people that I know get those thousand dollar refund checks each semester and go shopping. That money is not your money, they should be using that refund check to pay back their debt not go on a shopping spree. Putting off paying back a loan is the dumbest thing you can do, if you have the extra money to start paying it back while you're still in school that's what would be the wise thing to do.
I am blessed that my parents have the ability to pay for my tuition/room and board/books/etc. so that I won't have any loans once I graduate.
It is really sad when people I know who are really working hard have to take a semester or full year off because they can't afford school or can't get enough loan money to stay in school.
I am blessed that my parents have the ability to pay for my tuition/room and board/books/etc. so that I won't have any loans once I graduate.
It is really sad when people I know who are really working hard have to take a semester or full year off because they can't afford school or can't get enough loan money to stay in school.
same here
I had to do a semester at community college so my parents could pay for Kent State this fall...my parents are NOT rich by all means but they are makin it. I refuse to take out any loans until at least grad school because I do want to buy a house once I get out of school
