Because of all the things to look forward to after graduation, paying off loans certainly isn’t one of them.
Someone posted up this picture on Reddit and it happened to pop up in my news feed, so I figured I’d throw it up here just for kicks. What Would one expect when going to college? What one would expect is lots of studying, lots of papers, lots tests and…well yes, lots of parties. What one doesn’t expect is to be spending lots of money. Then what does this person do when they get their first invoice from the college telling them how much they own them? They start pulling loans.
Getting loans is actually relatively easy. There’s very little that you need to do qualify and you can get them from almost anywhere such as the federal government, private banks, or a credit unions. You can pull from as many as you’d like . Tack on interest and loan fees though, and before you know it, you’re looking at six figures of dept. Isn’t that a great graduation present? Not at all.
When it comes to borrowing other people’s money, you want to be smart. Don’t pull out more than you can handle and always be sure to do your research to be sure that you’re getting the best rates. Actually, the best advice I can give you is to not pull out any loans at all. Get a job, move in with a friend to help pay for rent, and do whatever it takes to scrounge up the money you need to make it through the next semester. You can’t be certain that you’ll even be able to pay off the money you borrowed when you finish college anyway, so why take the risk? Just don’t do it.
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