Loan Management

On Sunday, July First, 2007 in a finance column a student asked about a loan to finish school. The student explained that he (or she) had already taken a small loan for their eduction. They were currently working full time as they had been for most of their college life. This student said that at this point they were finding it difficult to concentrate on school. This was mostly due to their work hours. Thus they were considering a small loan to lighten the load and free up some time to concentrate on graduation. Yet they felt anxious about any more loans which would come due after college. The advisor in the column advised them to take the loan. This exchange brings up a few points about Planet College that are worth noting. First, it was wise of this student to even ask someone about this loan possibility. Often an outside source can cast a light on your situation. This applies to many things but money is so critical that it is almost always a good idea to talk to someone about what is on your mind. Second, this student is following a basic rule of successfully completing your time on Planet College. Keep your loans low. You don't want to return to Planet Earth with too much debt. But in this case this student is aware of the toll that stress working full time is taking. The columnist advised the student to strongly consider the loan. I agree. In this student's situation the loan will help. It will also not add considerably to the students eventual debt.

Something to consider while your on Planet College.