A big struggle as a student loan borrower? Not knowing what you'll owe - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 55 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

If you're taking out a student loan, youngsinick suggests asking yourself if it's really worth it, and talking to other people about their experiences with debt — even if it's uncomfortable

since graduating from Howard University into the Great Recession. Since taking out an initial $10,000 in student loans to cover his freshman year of college he's dealt with his debts going to collections, and struggled to keep up with high monthly payments on more than $100,000 in private student loan debt.Arceneaux documents the ways in which student loans have affected his life.

"After I received my diploma, I immediately owed almost $800 a month in private loans, with 12 years to pay it off. That's not counting the few hundred dollars I still pay each month in federal student loans," he writes in his book. As college costs have increased over the past several years, student loans have become all too common.

"I'm not dismissing my responsibility for this," Arceneaux writes. "But along with many other 17 and 18 year olds, when I went to college, I didn't know anything about student loans or interest rates," he writes. For future student loan borrowers, it's not about re-considering going to college — for many Americans, a college degree still carries aRather, it's about protecting yourself with information ahead of time.

"Ask yourself if it's really worth the risks," Arceneaux told Business Insider by email. "Talk to people about money even if it's uncomfortable. Ask people about the types of loans they have [and] how it's impacted them."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

youngsinick 💰⚖ September 17, 2001 | Under Media Restrictions | The-War-On-Drugs | Why Are Medua Restrictions Still In Place?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Inside McDonald's Black franchisees' quest for equality - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Media outlets lean either to the right or to the left in the US, but never has the US look so fragile and divided, why
Source: BusinessInsider - 🏆 729. / 51 Read more »

Shark Tank lessons every business owner needs to know - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

How MBA students can make the most of remote, hybrid business school - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Hotels struggling to recover from coronavirus pandemic, per AHLA - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

10 things you need to know before the opening bell - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »