What if you don’t want federal student loans in your financial aid package?because I heard student loans are bad.?

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  • Lili
    Lv 7
    6 months ago

    You can decline to take out the loans, but then you'll have to come up with another way to pay that sum. The school is not obligated to replace the loans in your package with additional grant or scholarship money.

    Loans are not bad things, and the interest rate on educational loans isn't bad either. Loans are the only reason a lot of people are able to get a college education. However, if the only way you can attend college is to burden yourself with a huge amount of debt, then you may want to reconsider attending college. Take out loans only if the loan amount is reasonable.

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  • Anonymous
    6 months ago

    Well then how would they manipulate you into a gubbermint job? That's kinda the whole point of the system. They'll tell you not to take out loans and to find alternative ways to finance the gap but the thing they know that you don't is that's fake news. There are no alternative means of financing the gap. The system is purposefully setup that way. Why do you think they made it extremely difficult to discharge student loans in bankruptcy? Actions speak louder than words. It's a trap.

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  • nancy
    Lv 7
    6 months ago

    You aren't required to accept the loans that are offered. Every school has a process for declining them, so if you're not sure, contact the financial aid office and tell them you don't want to accept them. (You will, of course, have to find a way to pay the bill without them). Student loans aren't necessarily a bad thing. Statistically speaking, people with a degree earn far more than people who don't have one, so if taking loans is the only way you can afford to pay for your degree, then those loans can be regarded as an investment. It can be a very good investment if you borrow wisely. Spend some time crunching the numbers. Find out what salary you can expect for the occupation you are studying for. If you keep your loan payment to about 15% of that salary, then the debt should be something that you can handle. Of course, keeping your borrowing to a reasonable level means you may have to make some choices that are not ideal. You might want to consider choosing an occupation that pays more, or choosing a less expensive college, or choosing a local college and living at home instead of paying for a dorm. Try to keep your mind focused on the long term picture, not just the next 4 years. It might not be exactly what you want, but by doing your research, setting a budget, and making the hard choices, taking student loans can be a stepping stone to a bright future rather than an impossible burden.

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  • 6 months ago

    Student loans are an onerous obligation. Any debt is a burden, but for student loans, there is no way out - you must repay the loan. If you have other sources of funds to pay for school through parents' contributions, savings, your job, scholarships, etc, prefer those over the burden of debt. But if you need the loans, you need them & have to take on that burden.

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  • 6 months ago

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  • 6 months ago

    Then you find another way to pay for college.

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  • Anonymous
    6 months ago

    Then you don't get as much Federal Aid.

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