Need-based loans are easy to apply for and don't require payments while you're in school, it's tempting to borrow up to the maximum amount—even if it is more than you can afford to repay.
That's true, it is easy to borrow too much. Ideally, I suppose, the education you're receiving will put you in a higher pay bracket so you can afford to repay the loan. That's how it worked for me, anyway.
You make a good point Papia...I'm sure it would be very tempting and very easy to get in over your head. It's a shame that so many will make this mistake and have to start their lives out on the wrong foot financially.
Calypso, I'm glad to hear you were fortunate enough to escape this type of problem!
You make a good point Papia...I'm sure it would be very tempting and very easy to get in over your head. It's a shame that so many will make this mistake and have to start their lives out on the wrong foot financially.
This seems to be a really huge problem. I guess it always was, but it seems that more and more people think that instant gratification is fine and don't really worry about the consequences later.
You make a very good point. I know quite a few people who took out the maximum and were living it up in college, but now have a heck of a chunk to pay back.
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