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Are loans worth it?

My job barely pays enough for rent let alone school, but I have to pay loans back at some point and there's no guarantee I'll get a good job. #school #stressed #financial-planning #loans

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Melissa’s Answer

Student loans are typically not due until you graduate. You may want to see if your school has leftover grants, monies they are giving to students, and put that into an investment like 529 so it can grow while you are in school.

Melissa recommends the following next steps:

Check grants available at school.
Learn about 529
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Brandon’s Answer

Loans are worth it if you're passionate about your work and can successfully complete the payments without creating a cycle of financial hardships. Nobody likes pulling out loans but sometimes you must do what you have to do.

Brandon recommends the following next steps:

Narrow down if loans are really needed, is there any alternative.
Compare the many different types of loans and their terms lengths and contracts.
Choose what best suits your troubles.
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Rachel’s Answer

They are worth it but try t apply for as many scholarships and grants as possible
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Maddie’s Answer

It's important to ask yourself these questions:

- What do I want my post-college life to look like?
- Can I be very strict with a budget and do I think I'll be able to stick to that?
- What field will I work in and what % of my loans can I pay each month?
- Will I have someone to support me if I fall behind?

It's very intimidating to take out large loans at such a young age. I recommend thinking really hard about these decisions.

Look at loans, scholarships, part-time jobs, etc to understand the full picture. Understand that only YOU & your family are the decision makers in your life. Do not let others around you guide your goals.
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Pavan’s Answer

Amanda - They are worth it.....they could bear a lot more worth if you've already ensured that the loan is paying for your in-state tuition and for relevant coursework which is training you with hot skills that are required by the market and location in which you plan to seek a job and lastly also would be worth more if you have turned in that last essay and last application for every possible scholarship and grant and that you have worked up by sacrificing some of your weekend luxury i.e. free time.


So as you can see where I am headed Loans are worth it when you minimize the $ you take out and you apply it towards what would maximize the $ you make of it.

Good luck!
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