Many budding young scholars are often keen on getting themselves student loans to put themselves through school. While there are many people who simply have no other choice but to get student loans, there are many who could go through school without getting stuck in debt. Because that is precisely what a student loan means, you will be stuck in debt. What makes student loans even worse is that they are akin to a bad tattoo; there is simply no way to get rid of them other than paying them in full.
Most people will instantly think well “I’m going to pay it off in full, when I get my nice plush high paying job”. However the stark reality of today’s economy is that it’s no guarantee to get a job upon graduating, even if you have an advanced degree. Millions of American college grads wind up with no job and huge bills with no way to pay them off. And there is no debt relief program that can help to alleviate the student loan debt and neither can it be discharged through bankruptcy. So heed the warning and if there is any way to put yourself through school without getting a loan please do so, it’s for your own good.