Another potential factor about 401k investments is that you may not see the kind of payout you would like.Īlthough one of the benefits of 401k investing is that your employer may match your contributions, the keyword to take away from that statement is “may.” You may work for someone who will contribute hardly anything or may not give you anything at all. There is a lot to gain by investing in a comprehensive 401k plan, but there are also plenty of ways to lose money as well. As a result of student loans being so expensive, many individuals end up having this debt for decades.Īnother factor to consider before accepting a loan for college is that every single loan you could possibly get will carry some sort of interest with it.Īdditionally, if you want to get a FHA (Federal Housing Administration) mortgage sometime after getting your student loans, it may be tougher to get one if you have considerable student loan debt. Although student loans can allow you to get a college education you otherwise would not be able to get, there are currently several downsides to taking out these loans. Your credit is vitally important when you decide to buy a car or house, and it is never too early to start building yours up. Something you may not be thinking about when you take out a student loan but is worth considering is that it can help you build up your credit score. One of the immediate benefits you are going to get by taking out a student loan is that you will be capable of attaining a college degree.
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