Avoid Student Loans

Avoid Using Student Loan Millennials constantly try to stay on trend. In a high profile nation like America where getting the latest Apple or Android device, or top brand shoes, or new season accessories is typically now common nature, having just a high school certificate is insufficient in keeping up with this trends. Subsequently, college is a means of furthering one’s education, attaining more knowledge and a basis towards securing a career. Nevertheless, the means of realizing a college education are rather tedious. College tuition and fees are huge factor to consider when deciding what college to go. Some decide to go to cheaper colleges, while others yearn for a much better standard education. The best colleges cost more-this is unsurprising since nothing good comes easy or free and neither does a college education-but the issue is not exclusively what type of college to go to, rather it is about building a effective financial plan towards your college of choice. Financial aid is available for this course and college students need to be aware of the numerous financial aids to ensure they go through college with as small a debt as possible. Student loan is one of the many financial aids offered but it is the least helpful option …show more content…
According to Allie Bidwell, “student loan borrowers are less likely to save for retirement, take out home and auto loans or start a business” (Bidwell). Using student loan will have a potential negative effect on college student’s financial status. As a college graduate with student debt you would have to repay the debt with interest. The college graduate as to pay a monthly fee whether or not the individual has a job or not. Though through Public Service Loan Forgiveness plans (PSLF) payment could be done just for only 10 years, however, it is very easy to fail to qualify for this plan. Some college graduate might end up paying these debts throughout their