Personal Finance

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Phobic Life After Using College Student Loans

When a student and his or her parents opt for these federally or privately offered college student loans, a few think about the life after four years or whatever number a given course takes.

The psyche right then is acquiring the best and affordable loan funds for the child to get education.

In this era of unemployment though, the aftermath of these college loans may be adverse on a number of students.

Education is struggle in the first place, but being jobless or securing meagerly paid jobs later after college can severely hurt.

This is why students are leading a phobic life after they leave college because there is quite a huge amount of loan to clear, yet the employers seems to shut the doors to their companies as students shut theirs from college.

Those who paid from their pockets celebrates

College funds needed to secure quality education in a highly recognized university or college are a lot, which is why the federal and private loans are provided.

Those who apply for college loans have the benefits of being financially equipped while learning, but the burden to pay back everything plus interest comes in later after school.

Those who fund their education right from their pockets are financially strained while attending classes but after they graduate, they have no debts to any one.

Not relying on any student loan is not easy because it means working extra jobs and hours while trying to keep your school work balanced.

However everything in life depends on how determined and focused a person is to achieve his objectives in life.

In fact those people who become prosperous in a lot of things they have done have had to sacrifice a lot of resources not to mention their own health.

Some of those who applied for student loans lead a fearful life

I do not know about you, but the greatest fear an adult have is being unable to provide for oneself and family-financial failure.

Whereas many fresh graduates express high expectations to acquire a job after school, just a few of them are able to survive the intense competition in the job market.

One may wonder why the government insists on schooling yet a lot of knowledgeable individuals become wasted later in life.

This is especially so in third world countries where not even part-time or even those lowly paid jobs are easier to come by.

What is more, some employers there deny these optimistic fresh graduates an opportunity to learn and gain practical skills in their organizations.

Some of the few, who does, takes advantage of the interns assuring them that the more they stay in their firms, the higher is their chances of employment.

After using lots of student loans, perhaps the only decision this kind of fresh graduate can make is consolidating them in to one easily payable loan.

But then, if he or she is not guaranteed of any employment or at least one reliable to start paying back the loan, what is expected of him or her except an early heart attack and depression?

The other viable option is entrepreneurship, but this demands starting capital. The government may offer those small and medium enterprises loan, but there is a qualification criterion.

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January 28, 2010 - Posted by | College And University | , , , , , , , , ,

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