Is an education worth the investment? Would you be smarter to not get an education and wait until the economy improves? Personal loans for students can create huge levels of debt. Is it a good idea to take this on?
Due to the decline of the economy, the cost of education has increased at a tremendous rate. Cost of living has increased multi-fold and similarly cost of educational material has also increased including the tuition fees.
Government funding to various states have been curtailed and obtaining educational loans or personal loans is almost impossible. The federal government's personal student loans are the ultimate goal of all students; but, even this is at the mercy of government decision on interest rates that are already high.
Most students in higher learning are aware that about 50% of college graduates are not able to find work in their chosen field. They are working at low paying jobs just to keep up with the interest on their loans. This has become a real hazard for college graduates and has been going on for the past few years.
Sometimes students take personal loans to pay for their education, with the only desire to get a suitable job after their education is completed. After completion of their education, students find themselves getting no jobs at all, for full time or part time. Unable to pay even interest on their loans, their loan amount increases month to month.
Some students choose to stay in school while working part-time so that their loan repayments may be deferred. Others keep making payments for almost two decades until their debt is cleared.
As you stand at the crossroads, which path do you choose? Do you invest in a college degree, banking on getting your dream job after graduation? Do you shoulder personal loans to cover your expenses, hoping that you will be able to fulfill your obligation to pay the loans off? Is it better to keep to your current lifestyle? Each person must decide which way to go.
There are times when the final decision is thrust upon us. Whether just starting out in adult life, or halfway through it, the job you studied so hard for may not be available. So before you sign on with a large loan, check out just what it is you want to be trained for, and don't just let the money be your only factor in deciding. If the choice of careers is definite for you and you need that college education to get in the running, then by all means, go for it. If not, think it through a little more.
Due to the decline of the economy, the cost of education has increased at a tremendous rate. Cost of living has increased multi-fold and similarly cost of educational material has also increased including the tuition fees.
Government funding to various states have been curtailed and obtaining educational loans or personal loans is almost impossible. The federal government's personal student loans are the ultimate goal of all students; but, even this is at the mercy of government decision on interest rates that are already high.
Most students in higher learning are aware that about 50% of college graduates are not able to find work in their chosen field. They are working at low paying jobs just to keep up with the interest on their loans. This has become a real hazard for college graduates and has been going on for the past few years.
Sometimes students take personal loans to pay for their education, with the only desire to get a suitable job after their education is completed. After completion of their education, students find themselves getting no jobs at all, for full time or part time. Unable to pay even interest on their loans, their loan amount increases month to month.
Some students choose to stay in school while working part-time so that their loan repayments may be deferred. Others keep making payments for almost two decades until their debt is cleared.
As you stand at the crossroads, which path do you choose? Do you invest in a college degree, banking on getting your dream job after graduation? Do you shoulder personal loans to cover your expenses, hoping that you will be able to fulfill your obligation to pay the loans off? Is it better to keep to your current lifestyle? Each person must decide which way to go.
There are times when the final decision is thrust upon us. Whether just starting out in adult life, or halfway through it, the job you studied so hard for may not be available. So before you sign on with a large loan, check out just what it is you want to be trained for, and don't just let the money be your only factor in deciding. If the choice of careers is definite for you and you need that college education to get in the running, then by all means, go for it. If not, think it through a little more.
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