Before Taking a Student Loan… Consider This

Posted on January 27th, 2015 by Discount Debbie

student loan

You have looked into grants and scholarships. You have worked and saved up your own money. Now you are considering taking out a student loan. Education is important, but it is also insanely expensive. Many of us find that we will be working until retirement just to pay off our student loans. That’s if we have other things we want in life, like a family or a house. We need to get all the facts and weigh the good against the bad, even with a topic as important as education

Society Is Changing

There are a number of changes that have been happening in the way we work in the United States. First of all, most people don’t stay with the same job for twenty years. They don’t earn retirement benefits. Benefits in the work sector have also changed. Many employers are only hiring part time in order to avoid the costs of mandatory health care.

We need to look at the positions that our education would qualify us for and determine if our education will support our lifestyle. Will we be able to raise a family on that amount of income? Will we be able to pay back student loans, plan for retirement, and pay for our medical insurance?

Specialty Schools

There are vocational schools that allow you to get an education for a profession but not need to take classes that are useless to that profession. There are a wide range of schools like this. They still cost money, but they cost a whole lot less. Plus, they tend to lead to employment more quickly and many of these professions pay very well.

What Other Options Are Available

While we know there is student loan forgiveness, we also know we shouldn’t plan on it. That means that a second job is the best bet for paying for your education. Other options are asking family for help with a written agreement to pay them back. Or you could promise you career services free to them in exchange for helping you out. Think outside the box, or should I say, think outside of the standard student loan.


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