Education Loans may be considered both as a boon and bane to the students across the globe. A student loan may serve as boon as it allows the student to attend the college. However, it may be a setback because students may have differed opinions when it comes to paying back their loans. Because the perception of their starting salary may differ depending on the individual. In fact, many new college students don't have any idea about the money they may earn in order to pay back the debts after graduation. So, it is hard for the student to decide on the loan figures.
The darkest side of the student loan is that many graduates find it hard to close the education loan even after completing their graduation. Research shows that graduates take anywhere between 10 and 15 years to pay back the student loan. So, the students who wish to fetch a loan should be aware of the fact that a graduation may not guarantee them with the highest salary in the job market. Also, the student must understand the fact that employers prefer to hire candidates with relevant skills and experience than those fresh graduates without any experience. Studies show that a fresh graduate takes anywhere between 6 months and 1 year to finish a graduation. However, the initial salary of a fresh graduate may be highly less than your perception.
Often the universities are to be blamed for causing such false expectations among the students. Because most of the Universities try to justify their high tuition rates by promising great careers and salaries to their students upon graduation. Some universities even display the names of those graduates who work as an intern (before joining full time) for a prospective company. The students who get to see such job displays on universities assume that employers will hire graduates and pay them a lump sum even if they lack experience. So, most students even develop unrealistic salary expectations when they look for a job.
For many students, college education becomes a question when they don't opt for a student loan. Those students who are not financially sound have no other option other than fetching a loan in order to pursue a graduation. However, the positive side of the loan is that the students will be able to pay back the loans if they have sound knowledge about consolidation loans and repayment.
Student loans are a great tool for those who have no other options when it comes to attending and affording to attend a university. On the other hand, for those who do not have an absolute need for the funds a student loan can provide they can prove to be problematic when trying to establish your career and your lifestyle upon graduation. You should consider wisely before you take up the student loans.
It is always a good idea to use all your available resources to pay for your education before you decide on a student loan. You can in fact check with your University about grants, scholarship, work-study programs before opting for student loans to pay for your graduate studies.
The darkest side of the student loan is that many graduates find it hard to close the education loan even after completing their graduation. Research shows that graduates take anywhere between 10 and 15 years to pay back the student loan. So, the students who wish to fetch a loan should be aware of the fact that a graduation may not guarantee them with the highest salary in the job market. Also, the student must understand the fact that employers prefer to hire candidates with relevant skills and experience than those fresh graduates without any experience. Studies show that a fresh graduate takes anywhere between 6 months and 1 year to finish a graduation. However, the initial salary of a fresh graduate may be highly less than your perception.
Often the universities are to be blamed for causing such false expectations among the students. Because most of the Universities try to justify their high tuition rates by promising great careers and salaries to their students upon graduation. Some universities even display the names of those graduates who work as an intern (before joining full time) for a prospective company. The students who get to see such job displays on universities assume that employers will hire graduates and pay them a lump sum even if they lack experience. So, most students even develop unrealistic salary expectations when they look for a job.
For many students, college education becomes a question when they don't opt for a student loan. Those students who are not financially sound have no other option other than fetching a loan in order to pursue a graduation. However, the positive side of the loan is that the students will be able to pay back the loans if they have sound knowledge about consolidation loans and repayment.
Student loans are a great tool for those who have no other options when it comes to attending and affording to attend a university. On the other hand, for those who do not have an absolute need for the funds a student loan can provide they can prove to be problematic when trying to establish your career and your lifestyle upon graduation. You should consider wisely before you take up the student loans.
It is always a good idea to use all your available resources to pay for your education before you decide on a student loan. You can in fact check with your University about grants, scholarship, work-study programs before opting for student loans to pay for your graduate studies.
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