The Truth About Student Loans

Student loans are a form of financial aid used to pay for higher education, which must be repaid with interest over time. They can help make college affordable, but they also create debt that can take years to clear and impact future financial decisions. Borrowers should carefully consider the cost, potential earnings, and repayment terms before borrowing. While they can open opportunities, excessive debt may lead to financial strain, and defaulting can damage credit. Navigating student loans wisely involves understanding the terms, exploring scholarships first, and borrowing only what’s necessary.