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Are student loans as scary as some make it seem?
I’m worried I won’t be able to get a good job after college to be able to pay back the loans. I’ve heard horror stories of people paying $900 just on interest rates. #college #loans # #job-search
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Ken’s Answer
College costs can be very high, but there are ways that you can reduce costs. Here are some suggestions: ## http://www.educationplanner.org/students/paying-for-school/ways-to-pay/reduce-college-costs.shtml
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Nicole’s Answer
Hi Camilo Z. I see that you posted this question a little while ago so I hope my answer to you (or others who may read this response) is still helpful.
I agree that student loans can feel scary. In addition to the awesome advice already provided, I will add that one way to reduce some of that fear is to be thoughtful about your college journey. I have noticed that there are a lot (a lot, a lot, a lot) of questions that come up about how to decide on a major for college. I think that this is a GOOD thing....because it indicates to me that young people understand the amount of time and energy it takes to make the best decision on what to study BEFORE they apply to colleges.
I will share that I had quite a large volume of student loans when I graduated from college. Even though it felt like a steep hill to climb, I was encouraged by the fact that I had a pretty strong degree and a pretty good job after college. These two things combined with fairly modest living in the early days of my first job (simple apartment, short commute) and my very real interest in the work I was doing meant that I was able to calculate and then surpass the time goals I had for paying off my loans.
I would encourage to try to minimize the amount of fear that I think naturally comes with student/family borrowing...and use some of that energy to research, perform the best you can and develop a level of self-confidence that will serve you well in your college and career journey.
Best of luck to you!
I agree that student loans can feel scary. In addition to the awesome advice already provided, I will add that one way to reduce some of that fear is to be thoughtful about your college journey. I have noticed that there are a lot (a lot, a lot, a lot) of questions that come up about how to decide on a major for college. I think that this is a GOOD thing....because it indicates to me that young people understand the amount of time and energy it takes to make the best decision on what to study BEFORE they apply to colleges.
I will share that I had quite a large volume of student loans when I graduated from college. Even though it felt like a steep hill to climb, I was encouraged by the fact that I had a pretty strong degree and a pretty good job after college. These two things combined with fairly modest living in the early days of my first job (simple apartment, short commute) and my very real interest in the work I was doing meant that I was able to calculate and then surpass the time goals I had for paying off my loans.
I would encourage to try to minimize the amount of fear that I think naturally comes with student/family borrowing...and use some of that energy to research, perform the best you can and develop a level of self-confidence that will serve you well in your college and career journey.
Best of luck to you!
Updated
Robert’s Answer
Student Loans can be scary. Unfortunately, if you want to go to school in America, it's likely you'll have to get them. If you don't find a job straight out of college (I know I didn't) you can always get your loans deferred. Depending on the kind of loan. while it's deferred it may not build interest, and that'll give you some time to get on your feet. You can also get your payments adjusted according to your income instead of being based on a set amount being paid over a set amount of time.
Here's a helpful article: https://www.investopedia.com/articles/personal-finance/082115/10-tips-managing-your-student-loan-debt.asp
Here's a helpful article: https://www.investopedia.com/articles/personal-finance/082115/10-tips-managing-your-student-loan-debt.asp