Education loan:good or bad?

[Ganibade]

I keep asking myself if education loans are good or bad. I wonder why so many people are clamoring for a high education when some people have poor financial assistance. Why are some people not knowledgeable enough to go to higher institutions because of their poor academic performance? Some of them are using the money to buy certificates from secondary schools. This means some people have to get loans for education. When they graduate, they are nowhere to be found.

 

[Sotherefore]

Your country also play a very important factors in determining this because if your country is really a country that believe in education or a country that will give you an automatic employment after graduation then you should consider this to be the best way because you can easily pay back the loan if there is something for you to do.

But if there is no possibility of getting employment after graduation then there is no need for you to waste your money since it will be very difficult for you to pay its back except enough time is being given to you.

In most countries or serious business organisation scholarship are always given to people that are really interested to get a loan for school and when they are done the government will automatically employed them or the business organisation will automatically employed them depending on who gives the scholarship.

When they work in this organisation they are at the same time paying back the loan they have collected and I believe is just the best way to some people.

If you're in Nigeria don't even think because this is not likely to work because of bads leadership and government officials .

 

[Sotherefore]

Your country also play a very important factors in determining this because if your country is really a country that believe in education or a country that will give you an automatic employment after graduation then you should consider this to be the best way because you can easily pay back the loan if there is something for you to do .

But if there is no possibility of getting employment after graduation then there is no need for you to waste your money since it will be very difficult for you to pay its back except enough time is being given to you.

In most countries or serious business organisation scholarship are always given to people that are really interested to get a loan for school and when they are done the government will automatically employed them or the business organisation will automatically employed them depending on who gives the scholarship .

When they work in this organisation they are at the same time paying back the loan they have collected and I believe is just the best way to some people.

If you're in Nigeria don't even think because this is not likely to work because of bads leadership and government officials .

 

[Rachael]

I see Education loan as a way to enliven students of financial burden. I have attended a state owned university in my country where loans are given out to students with zero interest rates and this was adopted due to the frequent dropout of students due to inability to pay their school fees before closure of the portal. This loan would not only be good on the grounds that the government might still want to leverage from the poor masses, by increasing the school fees which is very wrong. Education loan can be assessed by all students in a particular school setting and could also be assessed through stipulated banks which the government partner to disburse the loans. Education loans has helped many students complete their education. The only collateral that is gotten would be to get your vital details such as the registration number which makes it difficult to have access to your certificate if you fail to repay the loan, it might be confiscated. Some unions do kick against the implementation of this loan act because of the adverse effect it would have on the tuition fees. Education loan is a way out for many students to complete their program but it might have some demerits based on the terms and conditions applied. Apart from loans, education should be prioritized through. empowerment, sponsorship, and bursary payment.

 

[Abigael]

Education loans are only great if you have a plan on how to pay it back. Most people usually take such loans without a good plan of paying it back. Which only ends up causing them more financial harm than good.

Look for example those who take higher education loans with the promise of paying it back when school is over. Only to finish school and not get employed since employment is very scarce in most nations. At the end of the day, they end up with so much stress and anxiety due to the unpaid loans.

Personally, I think that education should be treated just like any other basic need. That requires you to have a source of income that enables you to afford it. That way, you can pay your school fees while you study. Even parents should never depend on loans to educate their children. They should plan their source of income well so as to include their children's school fees.

In the instance where the only option you have is to take the loan, then make sure to have an earning plan to pay it back. For example you are in the middle of your education and end up lacking school fees, it is best to take the loan but only with a good plan.

 

[anil02]

In these days it is not easy to get any job after graduation. For a good job one must have any profession qualification and it is some more expensive. So it no easy for all students to have it. For professional education education loan option is not bad one.

 

[funmi]

I see this in two ways. Firstly, Education loan is good depending on how you plan or intend paying back. In some good countries where their economy is stable and there is enough opportunities for graduates as soon as they finish their studies.
Of course, in this situation, I can take education loan.
Many reasonable countries do give out education loan to their students, in fact, students are allowed to work while still in school. If a student is serious and not extravagant, he can pay his loan from the money he get from the student's job he is doing.
More so, if the student finish from school and he or she get a job immediately, he can as well pay back before he know what it us.
But this decision must be considered properly before embarking on it, one must consider the country you are in first. You must first study the financial status of your country too.
Now my second point, you may not take education loan if the situation in your country is very different from my first point. If you are from a country where the future of the common man is unpredictable, then run away from education. Some countries do not give room for students to work while still in school.
More so, these countries t not any job for their graduates as they are graduating from school. So, if you fall at this category don't bother to take education loan. Thanks

 

[anil02]

In these days it is not easy to get a job after school education. In my country banks are not giving loan for school of collage education. Here education loan is available only for professional courses, and it is easy to get job after completing these courses. here school education is also not much costly.