Thinking About Getting Student Loans – Very Bad Idea!!

Watch This Video: Default – The Student Loan Documentary






So many of us fall into the trap of getting student loans to pay for college. Not knowing the consequences of our actions until it’s too late. For a young aspiring college bound student, college is all that matters and they’ll do what ever it takes to go to school, even if it means getting predatory student loans. I believe that all student loans should be avoided, this includes  federal loans( like direct loans and direct parent plus loans) as well as  private loans (like Sallie Mae and Citibank Loans) Be smart, find a free school to attend if you can’t afford to pay for one. Find alternatives to student loans, i.e. scholarships and grants. Trust me, student loan debt will make your life miserable. I know this from personal experience and from many friends and family members who have made the mistake of either borrowing student loans or cosigning for a student loan. You should seriously consider all your options for getting a free education before opting to take out student loans; a debt that could stay with you many years after you graduate.

Please help others by sharing your student loans debt stories in the comments, thank you.



11 thoughts on “Thinking About Getting Student Loans – Very Bad Idea!!

  1. This could be a good message in the right context…but here the execution is terrible. A solid education SHOULD BE available to those in need…and free. But it’s not. Discouraging students from taking any loans at all creates an all or nothing scenario. Whereas taking out small, responsible loans means committed students take ownership of their education.

    • I can see your point and more needs to be said about what predatory student loans are. I place government backed loans as one of the worst. You would think that these schools would be screened before being allowed to borrow government money ( I know I did) but our wonderful government could care less about the school and the rules for getting on the lenders list makes it so almost any school can make the grade.

      There are responsible schools and kids need to know how to detect not only predatory student loans but also the predatory schools! More needs to be said about both of these things and this author has only scratched the surface of the whole problem.

  2. I am a FULL-TIME STUDENT at the age of 55. I have made payment arrangements to make MONTHLY PAYMENTS towards my TUITION for online courses. I am going for my certifications in ARCHITECTURAL, INTERIOR DECORATING, and LANDSCAPING DESIGN — NATIONAL & INTERNATIONAL CERTIFICATIONS and/or RECOGNITIONS. The examinations to obtain these certifications are very expensive but I will pay as I go.

    The reason I am in school now; I am concern if anything was to happen to my spouse, I need to be able to support myself. I have had a wide range of experience of 25+ years in the fields of interest that my education can only enhance my references. And as a back-up plan, I am also taking CREATIVE WRITING and EXECUTIVE WRITING courses; but there is so MUCH COMPETITION in this field.

    My husband has been very supportive, as long as we can pay for it without creating a LOAN DEBT. I can understand his method of financing;especially when our HOME and VEHICLE is completely ours without ANY LIENS.

    Rest assure – obtaining an education without creating serious debt is reachable and obtainable. I have always stated — ‘if I can do it, you can do it.’ You do NOT need a rocket scientist to accomplish this.

    Good Luck. God Bless…
    K @}-;–

  3. Student loans and their ridiculous availability are part of the reason why college costs are so high. As long as almost anyone can get a loan and people take these loans, colleges have NO incentive to decrease or manage their costs. They know, somehow, parents or students will come up with the money. There is no justification for paying $100K-$250K (depending on the institution) for a college education only to come out of school to no job or a job that pays $25-$40K. Where is the ROI (return on investment) in that? And to take out loans for that kind of ROI is insane. The system is broken. School costs have gone up at more than 2X the rate of inflation in the past 25 years. Bloated salaries of professors and management, bloated upper management staff, bloated budgets for ridiculous facilities and equipment that few people get to take advantage of, bloated football program budgets ( <10% of football programs are profitable), giving out scholarship money to overseas students instead of keeping the money for students here, are all part of the problem. Unwillingness of students to take major loans is a starting point to try and stop this ridiculous spiral.

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  8. Well, nobody forces students into taking loans. If you have a plan and can repay it, it’s not that bad. Surely if you have no idea how to deal with your debt, don’t even think about student loan, college is not worth it. I know quite a few students who appeal to custom essay service and study online. They don’t care about degree or prestige, they strive for knowledge and skills. These people are worth of respect and they have better chances of landing a job rather than some grad who is clueless about real life.

  9. Wow. It must be nice to be rich. What exactly is a poor person supposed to do? Just work at McDonalds and be happy? There aren’t enough scholarships and grants to cover all the costs of getting a degree. How can you say don’t take out student loans?

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