But the unfortunate reality in America today is that we are saving less and less for the future. As a result, students and sometimes, parents are forced more and more to borrow to finance their education or that of their children. Increasingly, students are borrowing against the future to support an unrealistic lifestyle while in school. Student loans were made available to help students and families go to school whenever they chose and to ensure money would not be the limited to college opportunity. They weren't designed to help support or condone unrealistic lifestyles.
Loans have to be repaid with interest, just like credit cards.
Because in many ways student loans amount to an advance against future earnings, some professions and career fields starting salaries don't lend themselves to easy repayment of loans. No going to the movies, no vacation, no savings, no cable TV, no new stereo system or furniture. Not quite what you had in mind once you got your diploma. Consider the field you plan to enter. In the first few years out of college, you may have to build a few years of experience before you start shifting tax brackets.