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Saturday, May 21, 2011

The reasons why student loans are a great rip off

 I know that  it's very uncommon for me to write on such a topic!  I want to give advice to people who are thinking about, or going to college!   This is to help them be highly aware about the danger loans will do! Some people will use this lame excuse, "Well it improves your credit score !" I want say to you, " Don't listen to these naysayers!"  You weren't  created  be a slave to the lender, but to be a blessing to mankind!  I know this statement will be very hard to comphrend at first or it might make you angry, but it will make a lot of sense later on!


This statement is now immersed in me  due to  my own experiences with paying off student loans! Which I am still paying my loans off now, and  it was one of my financial  lessons in life!

After I  started to learn about students loans and getting knowledge about  improving my finances not too long ago, every now and then those thoughts would be like, " If I would  have known what I knew about loans, and searched for information to improve my finances, I would have saved a ton of money!"  However, I look at the end result by paying off all of my student loans, look to tommorrow! To look at part of my  experience,  go to my other topic that I have written on my blog- not letting bills kill my joy!" Which is under the catagory  of - helpful information for people who are going through trials!"



For people who are going to college to get student loans

This is an area where people who are trying to pay off college, they have no choice, but to take out student loans  in order to pay off their  tution rate for  college!

While in the mist of taking out students loans, it's really putting  a person financial future in danger  due to how the ecomony is moving in the United States.  Besides, I am not by any means trying to put down that things aren't going to get better with the ecomony in the United States, but there are so many students who are being ripped off  by paying their student loans after finishing college!


Although,some of you might ask, " Why are you writing on such a topic? Why are you opposing student loans so much Tyler? You shouldn't be writing on this? I have to pay off my college tution! " Even though  that's what a lot of college students say, but don't you think you can avoid loans by  applying a grant, getting scholarships, or saving your money to go to college! " 

Some of you say, I still have to pay off my whole college tution! The best thing I recommend is to find other ways to make money  and find scholarships, or grants! For those who are fence to go to college, find scolarships or grants before going to college, and think of other avenues to make money, and find a college that matches what is affordable for you! Besides, avoid  students loans at all costs, because it's a trap!

Here are the reasons why students are a ripp off   

Reason I.

 When one takes out for loans, that's really setting oneself up for danger in the future! The reason I say this, borrowing students each year from the bank to pay off college is setting yourself up for future debt and it's not healthy fiancially!  Debt is  nothing but being a  slave to your lenders!  This is one big rip off!


Reason II.

  Your loan company or bank that lends will always look for every avenue to get more money out of you, and trick you to pay down interest!   Some of them will send a form when tax season comes to convince you to pay down interest, or pay off more of your student loans with your tax refund!  It's nothing but a rip off!  Why give your tax refund to a lender that is going to pile more interest later on even though you pay on time!!!?  In fact, you could be doing more things with your tax money!


Reason III.

    Banks that are lenders or  loan companies will pile unecessary interest on top of interest on your student loans so that more money will pump into their companies! The more the higher  interest, one is  actually paying way more on that loan then he or she is supposed to! Does this to you my friend sound like a major rip off!?

This is how Banks  or Student loan  companies make much more money!

Reason IV

Don't be fooled by when you hear " Grace period,- this isn't compassion for you!"  This only means if you are behind on your students loans, it means that has been waived for a certain period of time in order to get caught up, or to find a job!  Or if the the payment is not due on time, they give you a period of time  to get the payment in! If the payment is not in, or if you are still behind on payments, no matter what's going on! You are penalised, more increasing interest, or may put be on default!

Reason  V

 Student loans rip off is your future of having more money in the bank account! Some student loan  payments might be cheap, or high? Don't you think you could have saved and have more money in your account in order to donate, and spend on things you like and enjoy! That's sounds like a rip off to me! Does it to you?

 With some people who are out of college and have student loans to pay off, and are in tough situations! It's a ripp off of their health, joy,  and excitment! Loan companies and Banks that are lenders really don't care about you as a customer, but they care about getting their money! Most of you might be offended at this, but it's the truth!


Short word

For those who are paying off student loans, continue to pay your bill on time, but always remember you aren't created to be a slave to the lender, but to be a blessing to mankind!  Always have the menality and feeling, " I am already out of debt!" I am not a slave to the lender!"  For those who are fence to go to college, please take heed to this article  because it will be help in the long run!


I would love to hear your comments on this topic! Do you think student loans are a ripp off for our college students today? What do you think?
Until the next blog! Have a blessed evening!?


Copyright (©) Tyler J.Logan
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