Do you think student loans are worth it? A lot of people graduate with a lot of debt and regret it, but sometimes the investment is worthwhile because students graduate with degrees and qualify for jobs they wouldn't otherwise qualify for. So, do you think loans are worth it? I think they are, but I think it's best to exhaust all other possibilities first. I also think it's important to only borrow what you need for tuition and to work for living expenses instead of borrowing that too.
There's no guarantee that you'll get a job soon after you graduate [unless you're an exceptional student or your lucky stars smile on you]. If you don't get a job or do get a job that doesn't pay as well as you would have expected to earn paying back the loan would demand a lot of sacrifice on your part like getting a part-time job, working extra hours etc. This could stress be bad for your health. So isn't it better to actually try getting a small job when you're in high school, save the money and with help from your parents, you could do without a student loan.
Yeah, I think it's best to at least minimize your loans. If you can't avoid taking them out at all, you can at least avoid borrowing TOO much.
Part of it depends on the school. My school being the apparent joke that it is doesn't really have any job placement programs so I'm left with plenty of debt and nothing to show for it. Also it depends on your location. Even with a degree, you may have to relocate to get an internship and often internships are not paid. If you get a job in your field, it may still be a while before you get it all back. Personally I'm pretty confident I wouldn't have enrolled if I did it all over because I'm sure whatever school had a good job placement program would be almost impossible (if not impossible) to get into. I really don't like owing money anyway. It's bad enough that people owe me in my life and I'm never going to get it back but for me to have to owe too is pretty aggravating.
It depends on the job title. In my area, there are many private vocational schools that charge anywhere from $10K to $30K for a job that may only pay $31K annually. The majority of those courses mentioned in the commercial are also offered at occupational centers, junior colleges and adult schools for a fraction of the cost. If a person is successful or decides that they want to move up the ranks (eg x-ray tech to registered nurse), taking the lower-cost classes will help as they may count toward college credits. Checking with your local school district is a good start instead of signing your life away.
I think taking out a student loan is a good idea. Student loans are usually relatively low interest and ours don't accrue interest until a year after you finish school making it a free loan for a period of time. Keeping the loans to a minimum is always a good idea. For some people no loan would mean no further education and that could put the wrong people in certain jobs. I think that if one is taking a loan out for school, the coursework should be leading to employment. I have seen professional students abusing the system by taking a course or two each semester and living a sweet life on student loans. When they are caught, it never ends well as they are unemployed and can owe hundreds of thousands of dollars.
I think as they are the only option that are available for some they are a necessity. But would I personally want one no. I agree it does depend on what you're studying and the job opportunities available once you have graduated. Which is probably why I am of the opinion no because where I live there are a lot of graduates who have struggled their way through university and are not working in their desired profession because the jobs just aren't there or they aren't getting them.
Student loans are unfortunately a necessary evil for most people. Higher education is absolutely needed to advance in the work force today. I'm dreading entering the work force with 2 degrees under my belt... I could only imagine what it'd be like without any sort of higher education.
I know what you mean, Thejamal. The workforce is a tough one to crack. There aren't many good jobs out there, and there is a ton of competition. A college degree is an essential. Too bad they're so expensive.
I'd say that yes, they are worth it. I mean, if you want to go to university, then there sadly isn't many other options than taking out a student loan. I mean, they're bad yes, because you have to pay them back, but they're for the betterment of yourself, and give you the chance to learn things you couldn't really otherwise. And don't forget, you only start to pay it back once you've started earning enough money to actually be able to sustain a decent life, and still pay it back.
Best you don't loan really depends on the student. If you have made up your mind that this is what you want to do and this is the career for your life, then it is definitely worth getting a loan to investing education. But if you are not certain what you want to do with your life and you are just going through the motions of getting a degree or some sort of education because that's what everybody is doing, then you are heading down the wrong path. At the end of the day you will have to pay back the money and if you are in a career that you hate you are essentially trapped because you have to make money to make sure you pay your debts at the end of the day. So it does not make sense picking a career and investing in a career that you will hate ultimately.
In this economy (if you're in the USA), it's probably a very bad idea. So many people in my generation have finished their degrees but cannot find a job in that field, yet they still have to pay the monthly payments on the student loans they took out. Some people have forever debt because of those loans. In addition, what if you realize what you're in school for is not your passion or something you really want to do with your life? It's not uncommon for college students to switch paths. Make sure you know exactly what you want before getting any loan, and keep your fingers crossed and pray you can get into your chosen field when you get out.
Are student loans worth it? Absolutely. It's often 0% while you're in school, a low rate once you're out, and you typically have assistance programs in place if the job hunt doesn't go as planned. Is post secondary worth it? This is more debatable in my eyes. There are few degrees that really pay off in the end. That said, biggest piece of advice with student loans is budget like you're broke. You may be getting +$3000 deposits in your bank account, but that doesn't mean to splurge, buy brand new books, or eat at the cafeteria all the time -- get used books when possible, make your own lunches, etc.
Only if all other means are either unavailable or exhausted. Otherwise, no! I specifically do NOT recommend Sallie Mae
At this point in time, college is far less advantageous than most students realize. They're brainwashed to believe that college will get them a well-paying job and an eventually debt-free life. Many students choose the wrong degrees and majors for such aspirations, though. College isn't the answer for everyone, and people need to either find another path to a career or choose a school they can actually afford. If you need thousands in loans, then you're probably making a huge mistake, especially with the economy in its current state.
It all really depends on your financial situation. If your family is well off and can pay for some or most of your tuition then one might not need loans. If you are struggling to meet ends meet then student loans will help you pay for your tuition after financial aid of course. That said, I do not believe student loans are worth it. The amount you need to pay after+interest with no guarantee of a well paying job saddens me.
It depends what you want to do with it and if you really do need it for what you're going into. Plenty of employers would rather see experience. So there are tons of people out there climbing the ladder while you're in a classroom memorizing whatever whatever and torturing yourself over tests. The face of education is changing.. slowly but surely. The homeschooling movement, the free online education etc.. it's all changing how schools and employers both look at their applicants. Especially as the employers are getting younger and wiser to it. It's just not necessary to torture yourself anymore and it's a big MUST to look into alternative paths to the same destination. No, I don't think the debt is worth it unless you want to be a doctor or a lawyer or something. You better love what you do in those cases though lol.
If you can avoid them at all, I'd say don't get one. There's nothing wrong with working some other jobs for a while either to save up money for college or part-time to pay your way through it. Of course if you don't have any other alternative or if it would guarantee you a fantastic job that would easily pay for the loan, then go for it.
It really depends. I think student loans are totally acceptable if they can meet three criteria: 1. You've selected a major with a high income ceiling and potential for job growth 2. You can finish in 4-5 years 3. You can still work part time, covering some of your living expenses. This way you can exit school with good career prospects and as minimal debt as is possible. Also everyone should consider trade school or apprenticeships.
From what I have heard from every single person I know that has had one, no they are not worth it. Especially the way the job market is and how volatile our economy is. I don't see the point if you are going to spend the rest of your life paying them off. I guess if you are going to law school, med school, or vet school/ any school where you know you will graduate and get a job then it could be, especially if it's going to be a really good job. I've just known too many people to get degrees and end up working the same jobs I do without a degree and they usually end up flat broke in the process and weighed down by a ton of debt.
