should i take a student loan?

Paying for College
1

<p>im starting school this fall and i have to come to a decision. i dont qualify for pell grant so ill have to take a loan. my school has packaged my loan offer for me and shown me what ill get. it should be more than enough. for 4 years it will total about $38k...which is not bad.</p>

<p>heres my situation. my credit is not good now. i have credit card debt from a few years ago i still owe. im working on that though. its been really hard to find a good job here in my state. i currently work a part time minimum wage job, and i dont make much. it works until i find something better.
anyway my problem is im hesitant to take the loan. i dont want to pile on more debt. when i get out of school i should be able to get a good job surely. i dont know how my credit score will affect my job chances also.
but getting a loan is my only way to go unless i get some scholarships later. i want to better myself.</p>

<p>do you think its worth it for me?</p>

2

<p>I congratulate you on your hesitancy to take on more debt. But you answered your own question when you said the loan is your only way to go unless…</p>

<p>You can plan your life around “but ifs…”. Go ahead and take the loan and get your education. I think it was Robert Kiyosaki who said their are only two things worth going in debt for: assets that pay you back and education.</p>

3

<p>yep. its my only way to better myself.</p>

<p>do you think my credit will affect my ability to get a job when i finish?</p>

4

<p>As you would be entering the employment field right after graduating from college, most employers would understand higher than normal debt…as very few students can obtain a college degree without taking on 10’s of thousands of dollars of debt via educational loans.</p>

5

<p>I’ve never been asked about my debt when applying for a job (and I’m 53). Getting a loan is another question, but I think you’ll be OK when it comes time to look for work.</p>

<p>However, it is always a good idea to be conscious of your credit and work on improving it, and I congratulate you for wanting to do that. There’s really no magic to cleaning up your credit, although it does require discipline and patience: Make your payments, make them on time, work on paying down the balances. Four years is plenty of time to boost your credit score. Good luck to you.</p>