Benefits Of Student Loans

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Student loans are never going to help you, only hurt you. Even though everyone is saying that it is ok to take out a student loan, that is the only way, it’s not. If you take out a student loan you will be engulfed in debt for the rest of your life, not even filing bankruptcy will cover it. Student loan interest rates are ridiculously high, not so free now. Student loans are a way for them to make money off of you but, you can pay cash for college.

As it is of 2015, 68% of the students graduating had some form of a student loan. That means 32% did it right proving that it is possible to not take a student loan and make it through college. In addition to this, the average amount of debt form student loans varies from, three thousand dollars to fiftythree thousand dollars per person. Not to mention all the other forms of debt you will accumulate over the years from house payments to credit card payments. Also, according to Student Loan Hero, “more than 44 million Americans collectively owe over $1.3 trillion in student loans.” Now that’s a lot of debt, about half of the county's entire debt. …show more content…
The average Federal loan has an interest rate of five to six percent, while private loans are 2.5% up to 12% interest rates. With these much higher interest rates it makes paying them back a huge battle. Also interest rates are viable to change causing you to pay ten times more than what the original loan was to begin with. Thus, it is better not to take out a student loan at all, instead save up and pay

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