Essay on The Impact Of Student Loan Debt

710 Words Nov 17th, 2014 3 Pages
The Impact of Student Loan Debt
When growing up I learn to manage my own money. I do not shop unless I need something important. I work hard to pay for something like college expenses. Student loans have advantage and disadvantage that can create the future of a student.
Student loan defaults are the result of bad decisions (Sullum). Students who borrowed student loans can be a lifetime servant paying for their loans. The government can extend college costs if they borrow money from them (Sullum). The student should know how to decide what the right choice for their college degree is.
First, excessive debt prevents people from saving for retirement (O 'Shaughnessy). Most of us are busy paying for our common needs. Some students who graduated from college are busy paying for their college debt. Some of us are busy paying other important expenses. Student loans carry interest (notmadeofmoney.com). I was afraid of borrowing money that I might end up paying these expenses in my whole life without even saving for retirement (O 'Shaughnessy).
Second, going into debt can be a good financial choice (Allen). It is good to use for long-term investment. A good idea to go college is to take out student loans (Allen).
Third, student loans are good for long-term investment. Having an investment while in college and paying for student loan debt is a good place to make money to get out of debt (Allen). Be able to pay in unexpected emergencies (Allen). Next, many of us are busy buying…

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