Student Loan Advantages and Potential Dangers

The Money Fit Show

Episode #19

Season 1

Student Loan Advantages and Potential Dangers

Guest: Janelle Culley with TRIO EOC

Taking out government student loans can offer a safer option than private student loans, but students still need to approach student loan debt carefully, borrowing only what they need. Even those who think they could use student loans as free money to invest while in school run a great risk of seeing their investments drop in the short term.

Financial hardships involving student loans typically result from over-borrowing, using the funds inappropriately, overestimating your post-college career income, or major changes to the industry in which you’ve chosen to pursue a degree. Do your research to determine realistic income expectations for your post-graduation life before taking out student loans.

1. Being thoughtful and mindful when taking out student loans

2. Fighting the notion that student loans are free money

3. Potential problems associated with overconfidence when taking out student loans

4. What happens to your student loans if you leave college early

5. Student loan deferment and going to school less than part-time

6. Estimating post-college cost of living vs. student loan payments

7. The dangers of making just the minimum payments required

Connect with our guest, Janelle Culley of TRIO:

Income Statistics by states from Glassdoor

NextStepsIdaho and Future Finder

TRIO Idaho Educational Opportunity Center

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