Should a student accept as many student loans (from their school) as possible?
October 19, 2010 by admin
Filed under Student loans
My friend was discussing this with me. I have fears of accumulating too much to pay off. I have no doubt that I will but it seems daunting at times when I think about it even though its not necessarily a whole lot compared to others. My friend says that he accepts whatever the school offers due to the lower interest rate compared to other institutions.
What do you think?
knowing what the job market is in most fields and not knowing what field you and your friend are going in to – I can tell you that people in my generation (boomers) were astonished when we discovered how much money we did not make when we got out of college with loans.
If you can work your way through – even if it takes an extra year – it is worth it not to have loans to worry about.
gen. one loan is paid. try to have of lowest interest rate.
Only borrow what you ABSOLUTELY need and try to get a subsidized or Perkins loan.
You can if you want, I wouldn’t recommend it, though because you will be paying them all back after you graduate.