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How easy is it to get stuck in student loan debt?
Is it really as taking out a student loan and now you’re stuck with it for a long time before you can pay it off? I’ve been wondering because I might want to take a loan for college, and I’m wondering if I will get stuck in debt?
*Made minor edit for question clarity - Sharyn, Admin
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4 answers
Updated
George’s Answer
Yes, it's debt!
Yes, it's easy to get into debt!
Yes, it's your debt. You get to pay it back...with interest charges.
Yes, it's easy to get into debt!
Yes, it's your debt. You get to pay it back...with interest charges.
Updated
Won Joon’s Answer
Hi Alexis,
Managing student loan debt can be challenging, but with the right preparation, you can handle it well. Try searching for and applying to scholarships and federal grants like FAFSA. Choosing the right college or university is also important. If you can balance a part-time job with your studies and budget wisely, you'll be on a good path to financial success. You've got this!
Managing student loan debt can be challenging, but with the right preparation, you can handle it well. Try searching for and applying to scholarships and federal grants like FAFSA. Choosing the right college or university is also important. If you can balance a part-time job with your studies and budget wisely, you'll be on a good path to financial success. You've got this!
Updated
Don’s Answer
Hello Alexis,
It is very easy to get stuck in student loan debt if you don't take certain precautions or if make the wrong decisions. Advice that I would have for you to consider would be to apply for scholarships, choose an affordable schools, work while you are in school, balance your budget, apply for programs like FAFSA or apply for grants would be some things to consider to avoid student loan issues. It is important for you to consider student loan debt and figure out what best fits your life financially. Hope things go well for you!
It is very easy to get stuck in student loan debt if you don't take certain precautions or if make the wrong decisions. Advice that I would have for you to consider would be to apply for scholarships, choose an affordable schools, work while you are in school, balance your budget, apply for programs like FAFSA or apply for grants would be some things to consider to avoid student loan issues. It is important for you to consider student loan debt and figure out what best fits your life financially. Hope things go well for you!
Updated
Michelle’s Answer
Hi, Alexis !
There are ways that you can avoid student loan debt and also go to college without taking out student loans that will need to be paid back after you stop being enrolled in college. You didn't mention what college you plan to go to, whether it would be in state or out of state, your major, and level of degree you want to obtain. All of these things can matter with how the expense goes for your college degree. If you take out loans, the ones through the Federal Student Financial Aid program give you a six moth grace period once you are no longer in college and you have to pay the loans back with interest. If the loans are from a bank or somewhere else, they let you know what the terms are, but yes, taking out loans for college can accrue an expense after you graduate.
So, is there a way to actually attend college and avoid taking out loans so when you graduate, you don't have to pay anything back ? Yes. There's a way and it's great that you're looking into this now. Regardless of not knowing your actual academic plans, I would like to provide you with some advice and information to get you started to explore
further.
You can enroll at a two year community college which is less expensive than starting at a four year University and at which you can obtain your Associates Degree in your major subject. You can then transfer and continue in your major for two more years at a University for your Bachelors Degree. California Community Colleges offer tuition waivers for low-income students through the California College Promise Grant and the California College Promise Program. This information can be detailed for your specific circumstance by visiting a nearby community colleges' financial aid office. That could take care of the first two years if you qualify. You can also apply for scholarships and grants to help with any expenses you have during your college stay.
You can apply for Federal Student Financial Aid and check all options except for Student Loans. You can make up what you'd get in Loans by applying for lots of scholarships and grants. All this information really needs to be verified by a financial aid officer on a college campus. Now lets talk about Loan Free colleges which your live near.
A Loan Free college has made an agreement with the Federal Financial Aid Program to help students out in other ways so they don't have to take out loans. Currently, the Loan Free colleges near you are West Valley College, Mission College, and San Jose City College. San Jose City College and Evergreen Valley College have been Loan Free, but their funding may not be there by the time you enroll. You can always double check about this with them. Also, City College of San Francisco has a "Free City" program that provides free tuition for eligible students. All worth looking further into.
I hope that this helps and I wish you all the best !
There are ways that you can avoid student loan debt and also go to college without taking out student loans that will need to be paid back after you stop being enrolled in college. You didn't mention what college you plan to go to, whether it would be in state or out of state, your major, and level of degree you want to obtain. All of these things can matter with how the expense goes for your college degree. If you take out loans, the ones through the Federal Student Financial Aid program give you a six moth grace period once you are no longer in college and you have to pay the loans back with interest. If the loans are from a bank or somewhere else, they let you know what the terms are, but yes, taking out loans for college can accrue an expense after you graduate.
So, is there a way to actually attend college and avoid taking out loans so when you graduate, you don't have to pay anything back ? Yes. There's a way and it's great that you're looking into this now. Regardless of not knowing your actual academic plans, I would like to provide you with some advice and information to get you started to explore
further.
You can enroll at a two year community college which is less expensive than starting at a four year University and at which you can obtain your Associates Degree in your major subject. You can then transfer and continue in your major for two more years at a University for your Bachelors Degree. California Community Colleges offer tuition waivers for low-income students through the California College Promise Grant and the California College Promise Program. This information can be detailed for your specific circumstance by visiting a nearby community colleges' financial aid office. That could take care of the first two years if you qualify. You can also apply for scholarships and grants to help with any expenses you have during your college stay.
You can apply for Federal Student Financial Aid and check all options except for Student Loans. You can make up what you'd get in Loans by applying for lots of scholarships and grants. All this information really needs to be verified by a financial aid officer on a college campus. Now lets talk about Loan Free colleges which your live near.
A Loan Free college has made an agreement with the Federal Financial Aid Program to help students out in other ways so they don't have to take out loans. Currently, the Loan Free colleges near you are West Valley College, Mission College, and San Jose City College. San Jose City College and Evergreen Valley College have been Loan Free, but their funding may not be there by the time you enroll. You can always double check about this with them. Also, City College of San Francisco has a "Free City" program that provides free tuition for eligible students. All worth looking further into.
I hope that this helps and I wish you all the best !