Financial Literacy - Testimonials
Below are testimonials regarding college loans and a student's future
“I am $18,000 in debt. I’ve declared bankruptcy, but they won’t forgive my college loans. I was crazy. I heard you could get “free” money by taking out loans which I did. Sure it was fun to get the check, but nobody told me I would really have to pay it back. I don’t know how I will ever get out from under this burden.” …….L.D.
“When I was in college I wanted to dress like my friends who had all the latest trend clothes. One friend actually owned 25 different pairs of slacks with coordinated tops! I didn’t have the money to buy these so I asked my parents if they’d co-sign a loan for me. They said “no.” While I never knew it or appreciated it then, they knew best. Following graduation ALL my friends were paying back loans for the next ten years. Not me; I was sending them all postcards from Europe. I graduated with no debt and as a result, I was able to take annual vacations to Europe. The first one was backpacking on $5 a day, but in subsequent years I was able to afford four-star hotels. Thank goodness I didn’t take out those loans!” …….P.L.