Friday, September 19, 2008

Student Loans

Taking out a student loan while you are still attending a community college is not a good idea. We had a student a number of years back who was twenty thousand dollars in debt and didn't even have an associate degree. Granted there may be extenuating circumstances in which a loan is the only option, but it should only be a last resort.

When you transfer to a four year college, you will, undoubtedly, need to borrow money in order to complete your education. In fact, I was $20,000 in debt when I finished graduate school, but I also had three degrees to show for it. With good planning and a budget that I stuck to, I was able to pay it off in five years.

Loans must be repaid with interest. Scholarships and grants are free money. There is no reason why you can't go to college nearly FREE. Students should start applying for scholarships while attending high school--the junior year is not too soon. Unfortunately, many students don't even give tuition fees a thought until they are ready to apply to a college or university.

Just say "NO" to loans and start your scholarship search.!!

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