June 2011

Is it Worth Taking Out a Student Loan?

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Student Loan
If you are living in the US and considering getting further education in a university then you are facing a difficult decision that will effect the rest of your life. On the one hand attending a university will in theory improve your prospects and lead to a higher paid job and a brighter financial future, it also offers great life experience and many people will say that the best years of their life were while studying and having fun at University. On the other hand though it also means several more years without earning any income toward getting on the property market, and it means taking out a huge loan that could leave you in a lot of debt. So is it worth taking out student loans and putting off the ‘real world’? Is it a smart financial decision?
When you take out student loans this normally means taking out a lot of money. Unless you come from a wealthy family then you will struggle to pay the college tuition fees as well as the living costs that attending a university or college involve. This then of course means that college students will graduate to inherit debt of $20,000 …