Seems like there are several students making comments on this site who are riddled with debt and angry that they feel cheated by an EDMC school. I would suggest to any students thinking about attending school to do their homework and pay attention to a few simple suggestions before signing up for student loans. Regardless of the school you attend you will probably have to borrow money to complete your education. So . . .
-
Skip private loans. Student loans are available through both the federal government and private lenders. If at all possible, skip the private loans. Federal loans may not give you as much money, but the interest rate is often lower and, more importantly, fixed. Plus, if you run into trouble making payments, the feds let you ask for a deferment or forbearance, something typically not offered by private lenders. In fact, private student loans aren’t much better than using credit cards.
-
Work and study at the same time. Working full time and going to school part time might not sound like a lot of fun, but it can be a smart way to get a degree debt-free. And you might not have to work so much either to pay off the debt after graduation.
-
Choose your degree wisely. Not all degrees are created equal. Pick a field with good income potential and plenty of job opportunities to ensure that you are able to easily afford your student loan payments. There are many articles released each year on the top college majors with the best starting salaries. Another option would be to pursue a career that doesn’t require a four-year degree. If you think the arts is a career path to wealth then you probably haven't done your homework and are being guided more by your heart then your head..
Going to college is a major decision in your life and you shouldn't make that decision lightly. Do your research and hopefully you will come away with a good education, a solid career path and debt that won't strangle you for decades. It really is up to you. Good luck!