Student loans are the spawn of satan. I was unable to find a job after my studies were complete and I seem to have this huge loan hanging over my head. Because of the length of time that you are allowed to take the loan over it sits in the background until you are working and then bang your supposed to pay it back.
I understand that the rates are favourable, there isn’t really a rush to pay it back but just knowing its there for so long makes me feel particularly nervous.I like to be able to pay my own way, but a student loan was deemed to be the answers to all evils and wouldnt be any hassle at all.
For me its just a big mill stone around my neck and its a stress that I could live without when Im trying to find a decent job. In truth I never spent it on anything worthwhile, I borrowed more than I should of to pay the course materials and the day to day living and squandered more of it than I should of done.
I am truly paying the price for it now.
Thanks for great article.
True.. A student loan can become a nightmare if it goes out of hand. practicing good money management skills and budgeting are the keys to effective debt management. But all is not lost, with a proper debt management strategy and a debt management plan from a certified credit counseling agency, one can pay off his/her debt systematically.