Why You Should Avoid Student Loans

by on September 21, 2010

It’s a known fact that education is an expensive business, as the total percentage of the student loan debits makes for a major portion of the total credit and it is evident from the analysis of the bank records. Student loans always seem as a reckless expenditure on education, which can be controlled by a proper plan.

You should be more responsible when you decide to get a student loan for your child, as it causes for troublesome situations with regards to your budget. Though, student loan facilitates you in paying the expensive school fees and exam fees, it also releases the burden of your child’s education to a certain extent. However, once you get into a student loan, you may realize that it is not easy to deal with it as you expected.

While going for a debt, you should zero down the reason for it and should also analyze if the loan can be avoided. All try to enter their children into expensive and well reputed colleges regardless of their financial status and the ability of the student. You may denounce the community college or government schools without any considerable reason, when the same subjects and the examination process are available.

While choosing the school, if you go crazy for expensive colleges, it leads you to have more financial problems with your debt. Even your child works hard to score well in the examination of the reputed school; however, he would not be able to get the expected result as you only consider the recognition of the school but not the capability of the child.

The most common reason to grant student loans may be the high expense of the exam fees and you can move to other options by selecting subjects that are also available at community school, and it would also be within the constraints of your budget.

An expensive college degree may be the gate pass for a good job; but you do not need to force your child to get into a very costly degree, which takes four or five years to complete. You can manage the expenses by choosing a degree that is in tandem with the available job opportunities of the country. It definitely enables your child to join the workforce soon after the graduation.

If you consider these facts which seem to be more decisive regarding to your child’s education, you may be able to avoid student loans that usually cause dilemmas, when you deal with them.

(photo credit: Getty Images)

{ 3 comments… read them below or add one }

government student grants for college August 22, 2012 at 2:38 am

I’d agree with the closing paragraph. It’s a waste of time and money to let your child take up an expensive course in college. Why not let them take a course that can guarantee them a job after college. That would be cool and practical.


studentloansandgrantsforcollege September 5, 2012 at 10:21 pm

It think student loans unavoidable but i think it can be minimized. However, I agree with your last paragraph. Allow your child to choose the cheapest course that can give them jobs. A lot of college graduates today suffer from paying loans and are jobless.


Steve from Online College Degrees August 23, 2013 at 2:20 am

Another great post by Chris! 🙂 Amazing are your tips shared in this write-up. You have described what exactly happens with every parent/student.. I remember when I landed into exactly the same damn loop of taking more student loans and then working harder to get those paid off (which I am still going on with 😛 ). I wish I read these earlier. But anyways, these are really very helpful tips.


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