DON’T TAKE OUT TOO BIG A COLLEGE STUDENT LOAN!

The most common reason you are trying to find jobs for college students is because you need money and probably have a student loan. With college costs soaring, fewer and fewer students are able to go to college without some sort of loan. The days where Mom and Dad paid the whole thing are long gone.

Twenty years ago college was still expensive but not anything like it is now. Kids then would be able to graduate, get a job, and most likely be able to pay off the loan in the next 5 years or so. Of course it depended on how big the loan was which was determined by the college you went to. The point is though, that most graduating students could get a job and expect to pay the loan off in a reasonable amount of time.

As a college student today, or one that is going to be, you need to be careful not get yourself in too deep with a loan. Remember, a student loan is different from a grant: it needs to be paid back in full and it is never going to go away. You need to figure out what type of degree you are going to be getting, what kind of job that will help you get, and how much that type of job will pay.

For instance, if you are going to be majoring in history, you should have an idea of what types of jobs history majors can get and how much they pay. If you are only going to be able to get a job out of college that pays $30,000, then is it smart to be borrowing $20,000 per school year for a four year degree? That answer is NO! College graduates today are often graduating with so much debt that it will take them 10 to 20 years to pay off, and that is if they can get a job.

Prospective doctors, lawyers, and other high paying professions have no choice other than to pay a lot for their degrees as they can’t get a job without one. But their earning potential is such that with a little luck they will be able to get out of debt in a reasonable period of time.

Students today are wanting to go college and some of the colleges are outrageously priced. You have to be smart and not graduate with more debt than you can handle. Remember, right now many college graduates can’t even find jobs and yet they still have those student loans to pay in addition to figuring out how to pay for a place to live and food to eat.

College aged students in 2010 – 2011 have bigger financial decisions to make right from the start than most students in the past have had. College should be a great place to learn, mature, make friends, and figure out what you want to do with your life. Right now though, college kids are saddled with big loans and often credit card debt all the while trying to find a part time or full time job. Kids today have a lot on their plates so be careful not to pile up too much debt that will only get you into more trouble.

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