College degrees are valuable. No wonder why some financial experts are arguing that carrying student debt is actually beneficial for students. Many students and their parents lose sight that a college education is an investment for the future, and even less fully realize that one must endure through blood, sweat and tears in order to achieve success. Risks involved with pursuing a college degree typically involve having to borrow more loans and incurring student debt. Despite the risks, in the long run, an investment in a college degree will eventually pay-off and help students to reach their full potential.
The most frequently-cited benefit of taking-on student debt is that of attaining a college degree. As of 2014, college graduates made an average of $1 million more than high school graduates over a lifetime. Additionally, obtaining a college degree helps one to lower his or her poverty risk by nearly 86% and average starting salaries for all college undergraduates in 2014 was $44,928. Degrees in rapid-growth sectors such as technology, engineering and medicine experience even higher starting salaries and benefits. A college degree can unlock doors and help an individual attain financial stability. The future has never looked brighter for college graduates.
There are also various other financial and even social benefits which come with incurring student debt. Credibility is very important in a world of financial instability. By making monthly payments on time, a student is able to establish his or her credit score and convince lenders that the individual is able to return the loan in a timely and organized manner. Other benefits include being able to apply for recognized tax breaks from the IRS and helping an individual to develop organizational skills.
The most frequently-cited benefit of taking-on student debt is that of attaining a college degree. As of 2014, college graduates made an average of $1 million more than high school graduates over a lifetime. Additionally, obtaining a college degree helps one to lower his or her poverty risk by nearly 86% and average starting salaries for all college undergraduates in 2014 was $44,928. Degrees in rapid-growth sectors such as technology, engineering and medicine experience even higher starting salaries and benefits. A college degree can unlock doors and help an individual attain financial stability. The future has never looked brighter for college graduates.
There are also various other financial and even social benefits which come with incurring student debt. Credibility is very important in a world of financial instability. By making monthly payments on time, a student is able to establish his or her credit score and convince lenders that the individual is able to return the loan in a timely and organized manner. Other benefits include being able to apply for recognized tax breaks from the IRS and helping an individual to develop organizational skills.