Is it ok to use loans to finance going to a university for undergraduate study?
Monday, May 3rd, 2010 at
4:46 pm
such as low interest student loans or does the money have to be the contribution of family money, grants, and scholarships? are loans impossible to repay or something?
Tagged with: family money • interest student • low interest student loans • money grants • scholarships
Filed under: Student Loans
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My husband and I both used loans to pay for our college because our families could not help at all. We had small scholarships and grants to help but they were only hundreds of dollars. It’s not impossible to repay. You figure you are going to make more money after your education is completed than you would if you didnt go. It’s definitely worth it. Once the loans are paid off then all your income is yours. It’s hard for the first few years though. You just have to be smart and not graduate and think you are rich. Live simply for a while so you can pay down the debt.
Loans should always be the last option. In this day and age, it is more worth it to jion a union straight out of HS than to go to college on a loan because you will have to live like a bum for 10 years or more after graduation while you pay it off.
It is ok to use the loans to pay for college. Some of the loans you will have to pay back. It could be anything. It is not impossible to pay the loans back. As long as you get a good paying job.