What are the benefits of student loans?
I will be a sophomore in college next year and was wondering about the benefits of receiving student loans. I was entitled to receive one last year, but did not apply for one because I was fearful of getting in debt (I come from a low income background). However, I worked practically full time for 6 months and earned less than $4,000, most of which went directly to school related expenses (gas, food, books, lab fees, school supplies). Also, because I worked full time I wasn’t able to meet as many new people as I would have liked, and did not have the time to partake in extracurriculars.
Next term I want to join a few clubs:
Chicanos for Community Medicine
Helpline
Student Philosophy Society
Hermanas Unidas
MeCha
V-Day
and work as
tutor for high school students.
I also want to live on campus because that would save me some gas money, and would allow me to study at the library instead of a crowded, noisy home environment.
i believe, since you come from a low income background, you should receive some assistance from FAFSA/ fina. aid.
as for student loans, the upside about it is that you dont need to pay a single penny (depending on which type of student loan it is) until you graduate/leave school.