The Pros And Cons Of Student Loans

Words: 1071

Pages: 5

Open Document

Understanding the basic fundamentals of how to manage your money at a young age can prevent financial mistakes that may haunt you for many years to come. Financial learning tools such as EverFi are beneficial in creating a proactive approach to lifelong financial success. If at all possible, avoid taking out any form of student loan. Student loans carry much more negative aspects than they do positive. Also, strive to find the college that best fits your needs and has the specific major that you are trying to pursue. Additionally, finding a job that is and always will be in high demand is an intelligent idea. Throughout Everfi, I have learned to not take out student loans, avoid debt, and pursue a career that best fits you and your abilities. …show more content…
Student loans are beneficial only in certain situations where it would be impossible to obtain a degree without the help of some form of financial aid. When a person who would not be able to acquire a college degree, because of their financial situation, is able to with the help of a student loan than this is a valuable thing. However, there are far more disadvantages than advantages to student loans. The biggest disadvantage being that the student loan carries interest. Not only will you have to pay back the amount of the loan, but you will also have to pay back the interest gained on the loan. Another disadvantage is that you will be paying back your large sum of student loan debt for many years to come. Getting into debt at a very early age may shift your mindset from pursuing the career that you want to solely focusing on how to repay your student loan debt. Students will sacrifice long term growth in his or her career for short term financial benefits in efforts to pay back their

Pros And Cons Of Student Loans

individuals who finish school with student loan debts can not own a house or rent an apartment. The average monthly student loan fee is almost $351 for ages 20-30. That’s about as much as rent at some places. Kids fear how they’re going to make those payments, so they’re sleeping on friends' couches, in preference to locating someplace to…

Words 60 - Pages 1

The Pros And Cons Of Student Loans

Lenders of student loans, grants, and scholarships have several different qualifications. An enrollment process requires information to help make the decision of one’s acceptance in addition how much aid available is based off of many things. One being the students yearly income or guardian’s income. Not all parents are able to provide financial support. Government Funding for student loans should not be based on parents income. Having parent income play a role in the acceptance of a loan or grant…

Words 565 - Pages 3

The Pros And Cons Of Student Loan Debt

practicality becoming the new student loan debt relief option? A college education is part of the American dream in finding the 'perfect' job to support growing families. Earning potential plays a big role in choosing a major. Employment opportunities and salaries are key factors in choosing not only a major but also which school to attend. It is hard to avoid the idea of how money plays an even greater role now in selecting a college to attend. With the recent federal student loan interest rate increase…

Words 559 - Pages 3

Student Debt Argument

Radical Action on Student Debt With how prominent the issue of student debt is, it is shocking how rare its inclusion in political discussions is. Student debt has consistently been increasing at a dramatic rate; it has more than doubled in the last two decades (“Is Rising. U.S. Economy”). This has already been a burden to the people of the U.S. for as long as they can remember, and it’s only worse for the forty-four million current borrowers that owe more than $1.6 trillion in student loans from the federal…

Words 638 - Pages 3

Cost Of College

With the high cost of college and student loans, people are left asking if college is still worth it. In most cases, college is not worth it in today's America due to the high cost, student loans, and amount of time required. There are cases where college is indeed worth it, but there are alternatives and it isn't worth it for the large majority of people as it is just not necessary. There are often better options today that are cheaper and require less time. In today's America, college is not worth…

Words 503 - Pages 3

Going To College Research Paper

Why should Americans go to college? It is said that college is “The ticket to middle class adulthood.” There are many advantages to going to college. People who say that obtaining a college degree is worth it argue that college graduates have a better jobs, get paid more, lead better lives and have healthier children . But with the advantages, comes the disadvantages. The people who say that college is not worth it argue that the debt from attending college is unreasonable, and going to college puts…

Words 1012 - Pages 5

B Found Test Notes

time US firms want profit, only shareholders get a say. Business Process: A series of activities that accomplish a business objective. EX: for a university BP would be to get students registered for classes, it includes all the things that would make that happen. Make schedule, Post in ISIS, Advise students, register student, Check preq, Bill Involved in creating a Strategy: develop a long-range plan, align internal functions in support of the plan, and adjust based on opportunities. Mission Statement:…

Words 740 - Pages 3

Community College Research Paper

Article from Scholarships.com “Many students don't realize that if they plan on working while attending school, Community College is hands down, the best option. They offer far more night classes than other universities and more schedule options. The workload, unfortunately, is lighter than a state school or private university and attendance is not usually required.” (http://www.scholarships.com/resources/college-prep/choosing-the-right-school/the-pros-and-cons-of-community-colleges/). Another reason…

Words 725 - Pages 3

Essay about Ways To Save Money For College

Many say that it is better for a student to work for the college, so that way the student saves money because the college pays for the tuition. It not only helps the student trying to go to the college, but also for ones family or dependents. http://www.usnews.com/education/bestcolleges/articles/2011/10/26/somerecommendworking forcollegesforfreetuition?int=97d908 1. Apply for financial aid. Even if you don’t think you'll qualify, fill out the Free Application for Federal Student Aid (FAFSA) form…

Words 1393 - Pages 6

Student Loan Debt

Grace Ross Mrs. Harvey English 12 6 May 2024 Should College be free? In America, roughly 43 million people are in student loan debt. The average student has $32,731 in student debt. Student debt is the 2nd largest category of consumer debt in the country. Because of this, only 50% of people have a college education. Affordability is one of the main reasons why people don't go to college. College should be free so more people have the opportunity to further their education, regardless of their financial…

Words 824 - Pages 4