Student Loans Must Be The Last Choice

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Student Loans Must Be The Last Choice


Student loans are both a blessing and a curse for students throughout the country. On the one hand, student loans allow you to have the money you need in many cases to attend college at all. On the other hand, most students, especially those who enter college for the first time, have inflated their initial salary after graduation and the bills they will face while living in the real world. In fact, most new students do not have a real concept of the limits of money on which their decisions are based, whether they can realistically expect to repay the funds once they have graduated from college.

The sad truth is that many college graduates find that during the first 10-15 years after they graduate, they are basically contract servants for their student loan debt. There are many reasons for this and different college graduates will find different things about lending their students when the right time arrives. First of all, those who take student loans need to understand that a bachelor's degree does not guarantee a high initial salary. Beyond that, a bachelor's degree is not a guarantee that an employer will queue up to take your name and number after graduation. The truth is that most college graduates need time ranging from 6 months to a year to find work in their fields and even then the initial salary is often far less than anticipated.

Part of the mistake for excessive expectations is the university's fault trying to validate the high level of tuition by displaying the average starting salary only from those who have successful bids in the field of study immediately after graduation (which usually shows a history of working with other companies or companies as an apprentice before being employed) and not students who do not have prior work experience in their chosen field. Part of the hope is that students read job advertisements for experienced workers in a field and with the assumption that education will provide the experience needed by employers. Whatever the reason, most of the expectations of the initial salary are not realistic considering the current market.

The problem is that for many students, student loans are a difference in receiving higher education or not. For this student, there is no choice. The price they will pay (with interest) for having loans for students to be able to go through the education process will pay for themselves during their lifetime if they are wise about making the necessary payments and staying on top of things such as consolidated loans and making payments on time.

Student loans are a great tool for those who have no other choice when coming to attend and want to attend a university. On the other hand, for those who do not have the absolute need for loan funds students can provide they can prove problematic when trying to build your career and lifestyle after graduation. This is a tool for education that must be used sparingly.

Whether you choose to take student loans to finance your college education, it's a good idea if you spend all the other available resources first. Check your choices for grants, scholarships, and work-study programs before jumping into student loans to pay for your education.

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