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Truthaboutstudentloans

Truth about student loans

If you are like me, thinking about loans is very confusing. If you are student, you probably have them. Here is an enimated way of thinking about loans.

First of all, evryone sould be educated. I was told by others that taking out this loan is no big deal. No, it is a big deal. You are borrowing money with a promise to pay it back. Unless it's substituted loan, you have to think long and hard if you want to commit to it. I was so happy that I got community college education, and saved a lot of money. This way, even I do need to borrow some money, I can the see the light in the end of the tunnel.

PLEASE PLEASE PLEASE do not go to the school just because it is very cool if that means taking massive loans. 

Sometimes I wish I went to Scotland to study, where education is free. But hey, what;s done, that's done. But hey, some of the UK is not perfect too. My friend was telling me how he is not worried about loans because you don't pay it back unless you are earning high salary. And after 30 years the loan is forgiven. Sadly, I read more about it and this is what I found out:

http://www.telegraph.co.uk/money/student-money/student-loan-shock-50000-graduates-charged-penalty-rates-add/

So, no country  is perfect. And we really need to think a lot about our education system. Once my professor mentioned that he suggest because of online classes we won't be moving away to college dorms. When I am thinking how much my choice (yes, as a transfer it was a choice for me) to live on campus have costed, maybe that would be a part of the solution to our student loan crisis. 

So, what can you do if you are about to start college/not finished college yet?

1. Take any substituted loans avaliable before agreeing to non-subsidized ones.

2. Apply to as many scholarships available as possible

3. Work while in college

4. REALLY consider community college to university route (that's what I did)

5. Be creative on getting money to pay for college. Try everything.

What do you think? Do you have any other advice?


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