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.
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.
Glad to see that someone is mature enough to make those types of decisions. As for the rest of us. . . if i had it to do all over again, I would have stayed in graduate school for four to six years and paid all of my tuition, cash. This $30,000 bill is not fun to pay.
When they speak to you initially and they tell you, heyyy you make in the 40s or 50s now, you ought to be able to spot us around say um. . 465 a month. Then you negotiate and get your payments down to say $165 a month; but you realize you'll be paying that $165 a month for 30 years.
Thirty years! More than long enough to be into your children's college careers!
So if you can avoid them, do so. If you can't, at least make sure you keep the unsubsidized interest up.
