Pros And Cons Of Student Loans

A student loan is money that is borrowed to pay for college or educational expenses. Although it may seem like taking out a student loan is your only option, I implore you to not choose it. If you commit to a student loan, you are instantly putting yourself in debt and subjecting your newfound independent life to a bad start. Also, by digging that hole of debt and placing yourself in it, you are narrowing down the things you do in the future, especially when it comes to choosing your career. No matter how you try to spin it, taking out student loans is a bad idea. When you look at student loans, you think, “well, debt is inevitable, and at least this is the good kind of debt.” This is a common misconception of our time. There is no such thing as “good” …show more content…
You would have to choose a career that would pay enough to remove you from debt, even if that job was the farthest thing from enjoyable. The debt could also limit the experiences that you always wanted to have in life. I imagine it can’t be too easy to backpack across Europe when you’re being dragged down by your own mountains of debt. You cannot buy your dream car or dream house, and the debt created from student loans will make you complacent with the situation you’re in, especially if it’s what you start out with. People believe that student loans are okay because you can just pay it off later when you get a job, which is acquired because of the money you pay. Although this theory would certainly make the decision more palatable, we all know it’s a bit of a stretch. You have to know that whatever career you are pursuing earns the kind of income that would be necessary to pay off the loan, and you’d also have to know that you’d actually secure the job that you are earning your degree