Скачать или смотреть Why a 17% Student Loan Interest Rate Could Ruin Your Future! 💸

A 17 percent interest loan for college is extraordinarily high and can turn what might seem like a reasonable investment in education into a financial burden that outweighs the benefits. At such an interest rate, the cost of borrowing balloons rapidly, making the total repayment amount many times greater than the original tuition. Over a 20 or 30-year repayment period, the interest accrued can cause a borrower to pay two, three, or even more times the initial cost of their degree. This astronomical interest rate can trap graduates in long-term debt, limiting their financial freedom and potentially making the degree not worth the investment when considering the lifetime earnings and career opportunities it provides.

Understanding interest rates and the return on investment (ROI) of education is crucial before taking on student loans. High-interest debt can severely diminish the financial advantages of a college degree, especially when compared to careers in the trades. Many skilled trades offer the unique benefit of earning a paycheck while learning through apprenticeships or on-the-job training, allowing individuals to avoid debt altogether. These careers often provide stable income, opportunities for advancement, and valuable skills without the burden of student loans. Evaluating the true cost of education, including interest and potential earnings, helps individuals make informed decisions that align with their financial goals and career aspirations.

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