Taking out a student loan is the worst financial decision anyone can make even if it was to get a degree in Rocket Surgery.
Originally Posted by budman33
I disagree..... I made the conscious decision to allow monies to be borrowed for 2 different family members educations because the earnings I was enjoying on investments was greater than the interest that would accumulate over the years on the loans...... 8 years and $72,000 later in one case a Master Degree was earned and she went to work in a low paying field providing therapeutic services.... Shaking my head wondering why, I was ready to withdraw the monies and pay them off leaving a size able amount behind..... when Congress went and passed legislation that rewards people in her field for the selfless contribution and FORGIVES her student loans after 10 years in the field.... She has just under 3 years to go and the loans stay in deferment as a result of her earnings...
In the other case a Masters Degree in AG Business was earned from Texas A&M with a minor in education..... Upon graduation she accepted a Teaching Position which resulted in part of her loans being forgiven and continued the deferrment of the loans. She recently accepted a Position with a Company that included a package that will pay off 50% of her Student Loan Balance after 5 years as well pay for her to get her her PHD...
In both of these cases... If there WERE no Student Loan to forgive, they would have received nothing.....
I know of Hospitals that will pay off Student Loans for Nurses that contract to work for them for a period of time....
I believe there are other fields as well.