Why You Shouldn’t Avoid Student Loans Altogether – The Surprising Downside of Steering Clear of Student Loans

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Trying to Avoid All Student Loan Debt? Not So Fast!

As someone who has actively used student loans to help finance my own undergraduate and graduate degrees along with my husband’s law degree, I have seen the benefits of taking on student debt to achieve specific goals firsthand. My husband is a practicing attorney and I have been steadily employed in the financial services industry ever since I graduated. Neither of those statements would be true without our degrees.

Recently, there have been a number of news stories highlighting the fact that high school students today are either completely averse to student loans or plan on borrowing only a very minimal amount. So what’s the problem with this financial mindset among young adults?

According to a TIME Money article, “The drawback to this wariness is that for those who do not borrow, they are unlikely to get four-year degrees.” The reasons cited in the article include: families not saving enough and the fact that working your way through school or starting at a community college to save money significantly decrease your chances of graduating with a four-year degree.

Read the full TIME article, “The Surprising Downside of Steering Clear of Student Loans” here.

 

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