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On the Tenth Day of Christmas…10-Year Student Loans

Barbara | January 3, 2011

On the tenth day of Christmas, The CollegeBound Network gave to me…

10 YEARS OF STUDENT LOANS

Ah yes, student loans–the gift that keeps on giving. Optimists will tell you to think of your loans as an investment in your future, while pessimists just consider those monthly payments as a 10-year bane to their very existence. Truth be told, loans can be seen both ways–as a lucrative investment on the good days and a dismal drain on your finances on the bad days.

Ten years is a general guideline for the repayment of student loans, but if you’ve got the financial ability to pay them off sooner, by all means, do it. You’ll save thousands of dollars in interest, and you’ll also free up some money that you can either put towards your savings or other “good” debt, like a mortgage for a home.

It’s the first day back to work in 2011 for CBN, so I’m in a glass-is-half-full kind of mood that I’ll gladly pass on to you. Don’t let the burden of student loans and the often-confusing world of financial aid stop you from achieving your educational goals. There is a light at the end of the tunnel!

–Barbara Bellesi

File Under: Financial Aid, Holidays

1 Comment

  • http://www.university-bound.com Alli

    I appreciate your comment that there is a light at the end of the tunnel- I will be making my first payment on student loans this month because sadly, my grace period has ended.

    But with 10 years of payments ahead of me, I think the cost of education was worth it, and when those years are over, I see myself in a great job I couldn’t have without a degree. Loans for college students are unfortunately unavoidable, good luck everyone!

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