No one likes to be in debt - especially Latino students. According to the Los Angeles Times, a recent report shows that they are the least likely to finance their education through student loans. Not me. The report states,"A 2004 study by USC's Tomas Rivera Policy Institute found that 80% of Latino parents and 74% of college-age Latinos did not cite loans as possible sources of financial aid". Unlike some of the students mentioned in the article who attend less expensive school like Cal State Fullerton ($414 for 4 units), being a student at the University of California has a bigger price tag ($4,484 for 4 units). Most students mentioned in the article work to pay off their college tuition while in school. Currently, working to pay off college in full would be virtually impossible. So, I depend on grants, loans, federal work study, academic scholarships, and money from my parents to help me fund the high tuition costs. However, being at a prestigious private institution is one of the prices that one pays to get educated by some of the best professors in the nation.
I am just glad my parents have great credit to co-sign for my student loans. Otherwise, I probably would not be able to attend this great institution that I have called home for the past two years.
I guess I have broken the cycle of “If you can't pay it in cash, then it's not a good idea”. So, yes good debt does exist. No one can put a price tag on my education.
I am just glad my parents have great credit to co-sign for my student loans. Otherwise, I probably would not be able to attend this great institution that I have called home for the past two years.
I guess I have broken the cycle of “If you can't pay it in cash, then it's not a good idea”. So, yes good debt does exist. No one can put a price tag on my education.
2 comments:
As a Mexican, I do feel that debt incurred from student loans is best kind of debt one can have.
The cost of an education, whether it be at a prestigious private university, or at a public state school, truly ends up being priceless.
I honestly look forward to making my loan payments...although I may not be singing the same tune when the bills roll in.
I would be really interested in seeing if you, or someone else, would flesh out more of what those statistics mean, both/either why and what the implications are.
Also, maybe for whom is debt good or not good, or what are some other examples of good or bad debt?
Post a Comment