Student Loans: Your Hero or Villain?
His sneering gaze looks across the table. In villainous dark robed attire, he hands me that heavy, burdensome ink pen toiled for poor, unfortunate souls. I can just hear his deep, evil laugh as I sign the contract...
“Muwahahaha!” Student loan debt for the next 30 years!
But is this how it really is?
Think about this:
Make More Money
Those who graduate with a Bachelors make about $30,000 a year more than high school graduates. $30,000 a year x 30 years = $900,000 more earned with a college degree!
College Funding is Needed to Stay in College
If you can’t pay your tuition and other cost of attendance expenses, you can’t enroll or stay in college. Student loans are designed to help you fund college and other costs of attendance. So, if student loans that help you obtain a college degree can help you make $30,000 more each year in the long run than the average high school graduate, why are student loans so often illustrated as the villains?
Not all college degrees and graduates are the same.
According to a Georgetown University Center survey, the major you choose effects how much money you are expected to earn.
Not only is the major you choose an important decision, but also, not all graduates are the same. Consider the variance between a top job applicant to a bottom job applicant: the differences between their resumes, grade point averages, work experience, and other factors. A college education and degree aren't the only things that matter at a job interview.
This goes to show that well-rounded, educated job applicants are making $30,000+ a year more than others, which makes student loans to fund college well worth a career and life investment.
So, will your student loans be a future villain on your monthly budget or a hero to your desired career?
You might also like: Why You Should Think of College as an Investment | Choose Your Career, Not Your College Major | Find the Right School at the Right Price for You | Resumes Require More Than Just Your Degree | Student Resources at 3Rivers