The struggle of the average college student’s financial burden, decisions that have to be made to attend college to have a successful future. Students borrowing loans that are not affordable to pay back, students decisions having to drop out of college because they are unable to afford the cost of living and college fees. When in high school many students do not get the opportunity to research the financial burden they might face when accepting to attend in state or out of state university. Students should speak to counselors or have classes that can teach the cost of living and cost of attending college (loans, repayment of loans, books, housing, tuition, and other fees). Students should research scholarships, financial aid and grants
…show more content…
Students have credit cards or family that can assist with paying for expenses. If a student is using credit cards to pay for schooling, taking a student loan might be easier to pay back since they have lower interest rates and options of repayment. Students will still borrow loans to help fund schooling and use credit cards as living expenses such as dinner, movies and other needs. The borrower sometimes does not see loans as a burden, they are assisted to borrow money to pay and help with schooling needs until graduation. Some find jobs that can meet their expenses to pay back loans. Others, do not worry about paying loans its more on what the effect it could have on their credit if not paid in a timely manner. This could affect purchasing automobile, credit cards, and a …show more content…
She borrows student loan and her repayments when she graduates is at $64.00 month for 20 years. That is great for her financially but she will be paying for 20years on a loan for $6,000 that she borrowed. Interest is lower than a private bank loan and credit card loans. Also, school loans have options for deferred and repayment. Another option would be if you are employed currently and work full-time most employers offer tuition reimbursement, were they pay for your schooling. If students have that option they should invest in using it. Students should remember when borrowing from student loans there is a possibility if not paid back funds can be automatically deducted from Tax returns. People focus on students who suffer from debt, due to the stress that it could cause while being away from family, and not having a social life due to having to work. Either students drop out of classes, some become shut down and isolate themselves due to the stress and the tragic suicide. Attending college is a big accomplishment which can cause a lot of stress to a student academically and physically. Students need to contact counselors, family, speak to friends to help them with any struggle they are effected
Students have credit cards or family that can assist with paying for expenses. If a student is using credit cards to pay for schooling, taking a student loan might be easier to pay back since they have lower interest rates and options of repayment. Students will still borrow loans to help fund schooling and use credit cards as living expenses such as dinner, movies and other needs. The borrower sometimes does not see loans as a burden, they are assisted to borrow money to pay and help with schooling needs until graduation. Some find jobs that can meet their expenses to pay back loans. Others, do not worry about paying loans its more on what the effect it could have on their credit if not paid in a timely manner. This could affect purchasing automobile, credit cards, and a …show more content…
She borrows student loan and her repayments when she graduates is at $64.00 month for 20 years. That is great for her financially but she will be paying for 20years on a loan for $6,000 that she borrowed. Interest is lower than a private bank loan and credit card loans. Also, school loans have options for deferred and repayment. Another option would be if you are employed currently and work full-time most employers offer tuition reimbursement, were they pay for your schooling. If students have that option they should invest in using it. Students should remember when borrowing from student loans there is a possibility if not paid back funds can be automatically deducted from Tax returns. People focus on students who suffer from debt, due to the stress that it could cause while being away from family, and not having a social life due to having to work. Either students drop out of classes, some become shut down and isolate themselves due to the stress and the tragic suicide. Attending college is a big accomplishment which can cause a lot of stress to a student academically and physically. Students need to contact counselors, family, speak to friends to help them with any struggle they are effected