| Student loans have gotten a bad rap recently. Part of | | | | college degree is getting rarer and rarer. |
| this is due to the bad economy. Many students are | | | | One possible route out of this is getting a student |
| graduating from expensive private colleges without a | | | | loan. However, there are many pitfalls future |
| job or a very low paying one. Some people are bitter | | | | students need to be aware of. First of, be totally |
| because they will spend several decades paying back | | | | aware of how much you will be paying and for how |
| loans. Others get caught up in a cycle of debt that is | | | | long. Many of the loans being signed today have |
| difficult to escape. These are both very plausible | | | | variable interest rates. They offer a temporary low |
| scenarios which happen to many people. However, a | | | | interest rate to lure in customers. Then the rates |
| student loan can be an escape out of a hard life if | | | | "balloon" after several years. |
| one is determined and does the proper planning. | | | | Also if you want to pay off your loans in a timely |
| There are many factors that are affecting the | | | | manner choose a major that will pay well. Nursing is a |
| American economy today. One of them is | | | | good example of this. It is difficult and may not be |
| globalization and the outsourcing of jobs. People used | | | | that interesting but it provides a very high and stable |
| to be able to get a stable, well-paying job with only a | | | | income. On the other hand, there are those studying |
| high school degree. Now millions of these jobs are | | | | subjects like art history. This is fine if you have |
| offshore. Finding a profession that can support a | | | | plenty of money. But it might not be the most |
| middle-class standard of living that does not require a | | | | responsible thing if you have lots of credit card debt. |