Question

Consider the following scenario:

Your good friend Kyle would like to go back to school to complete a bachelor’s degree in Early Childhood Education so that he can fulfill his dreams of teaching 2nd grade. Years ago, he started college, but work and life responsibilities got in the way of him finishing. He knows that you recently enrolled at Ashford University and wants to ask your advice as he plans his next move. In order to help pay for his tuition, he plans to borrow student loans. Kyle tells you that he wants to borrow the maximum amount of available loan money to buy his kids new shoes and go on a vacation to Hawaii.

Based on the scenario above, address the following:

• Describe a potential repercussion of borrowing the maximum amount of student loans / available loan money.

Answer 1

The student loan is very popular in every country as it gives the needy student a chance to fulfill his dream. There is cost associate with this loan as well. A student should avilable maximum loan as it will incur heavy interest. After graduating, it is also uncertain that a student gets the jon easily and in no time. He night have to wait and his salary might not be adequate enough to cover the loan and interest part easily.

In this case, Kyle should only look for his studies. Other thins such as new shoes and holiday can be defferred. Kyle should remember that previously he got his studies hampered due to some family life. So, this time he should focus on studies only and of course necessities as well. So, seeing these situations, he should not borrow the maximum loan available and also he should not spend this amount of loan to any other activity such as on holiday.