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I’d like to share with you why it’s good to talk to someone who has taken out a student loan before you take out a student loan. Imagine I am 18 getting ready to go to college. When I was 18 and figuring out what I would try to do with the rest of my life I figured I’d go to school and get a degree so I could fly, honestly, all I wanted to do was be a pilot. I didn’t understand what all went into going to school, cost-wise. All I knew was trying to get a couple of scholarships and use financial aid to accomplish my goal.

The older me would tell the younger me three things

The three things the older me would tell the younger me… don’t get into debt, take education seriously, and full rides are dope….get that. A bonus thing I would tell myself is to save up and take classes online, it can cost less. If I would have had someone who was in debt and trying to pay off their student loans talk to me and shared their experiences trying to get out of debt I think I would have had second thoughts of just going to college on financial aid aka student loans.

It’s kind of like in high school when the adults showed videos of the potential end results of someone who smokes. They showed them to us because they wanted us to be more aware and not smoke. I grew up in a household where my grandma smoked and my mother did/does as well. I will admit I snuck a cigarette away one time tried smoking it in the bathroom and nearly choked. I have never smoked since. I stayed away from smoke even though other people around me smoked. I bet some people who are having medical issues as a result of vaping could drop some wisdom on people young and older. I bet they’d say something like “don’t do it, it’s not worth it. It’s not worth sacrificing your health.”

Imagine a short video where a person is working multiple jobs and they’re stressed trying to pay their student loans. Imagine they have a family and they’re working really hard trying to make ends meet. Imagine they drive for Uber or Lyft. They’re doing everything within their power to try to just live…and pay off their student loans but aren’t making a dent, ahh yes that compounding interest. They drink and smoke for a mini escape away from their problems. This isn’t everyone but it’s someone, someone who took out student loans and may not be able to ever pay them back. #compoundinginterest What do when the next recession hits? What do they do if they get laid off? What if they committed suicide because they saw it as the best way to get away from their debt?

Would this video have an impact on the next generation considering going to college on financial aid aka student loans? Going to college to get a degree can be a good thing and for many people it is. For many more it isn’t the best decision, to take out a student loan. There are some people who don’t go to college and fare better because they’ve taken up a trade, this is one of many routes a young or older person can take. If an older person said “look, it’s not worth it, American citizens can get in credit card debt and file for bankruptcy and get their debts wiped away. If you take out a student loan at this point it will only go away if you die.” That’s true as of 11/30/2019.

Some will make it but many won’t

Some will take out student loans and pay them back, many don’t/won’t. If they could sure, but where they work many times only covers a living wage. Student loans can affect the rest of your life for the better and also for the worse. The quality of life can be very different from others who don’t have student loans. Why? It can or will affect their credit, collectors will garnish their wages to get the student loan payments. That’s not the kind of position you want to put yourself in where someone can take away what you’ve worked for. Yes, getting the student loan was the loanee’s decision but I will say to someone thinking about getting a student loan…

This Is Why It’s Good To Talk To Someone Who Has Taken Out A Student Loan Before You Take Out A Student Loan

The kicker about student loans is compounding interest. It is a double-edged sword, compounding interest. In an investment, it works for you, tied to a student loan it works against you, utterly. Imagine this, you’re making payments but you’re not making much of a dent. Someone will say work 2-3 jobs if you have to, is a person’s health worth it? What about the people who can file bankruptcy and have their debts wiped away. What about a corporation in a recession receiving a bailout to help them stay afloat? Surely if that can happen for businesses who are connected it can happen to taxpayers who… pay taxes.

What would 18-year olds know about compounding interest at 18? Many of them are more interested in Fortnite, Youtube, Music, Sports, Apex, Social Media, what’s happening in their life.

It should be mandatory that middle school and high school students learn about finances in class. It should be a literal class they must take. Some will argue that should be taught at home but everyone doesn’t have common sense and they don’t make the best decisions.  When a teen/young adult gets a job taxes will be taken out, whether they feel its a good experience or bad they pay taxes. They are a taxpayer, it should be required in an institution of learning to teach finances. It will make society better, (teach them also about God and Jesus too).

Dealing with Freewill

Sure we all make decisions and that is apart of free will. God gave us free will. Having a class in a place where youth and adults can at least learn what is out there waiting for them will help them be in a better position as a U.S. citizen to avoid costly decisions that can ruin the rest of their life.

If you teach a child about money and finance and debt you’re setting them up more to achieve success. This is accomplished because when they get out into the real world, they’ll say “no” to those things which can harm them financially. Want a new car? Save that for a used car you can pay with cash. Best tip ever at 12:30 am on 12/1/2019. The worst-case scenario about getting a new car is you lose your job, you’re still on the hook to pay the monthly payment for the car until the loan is paid. If you can’t make the payments they’ll come and get the car and you’re still on the hook for a loan and you’ll have nothing to show for it. That’s crazy, right? It’s life.

God helps those who help themselves, hold on a second

Hmm, can everyone help themselves? There are only 24 hours in a day and we can’t stop time so we can catch up. The bible teaches us to love the Lord our God with all our heart, mind, strength, soul and teaches the second command is like it: Love your neighbor as yourself. If this post helps just one person it was worth writing. I hope it helps, let me know if it did.

-StedoCli