As somebody that doesn’t need to pay tuition, but is eligible for a student loan, should I?
Curious on the benefits/drawbacks
Discussion
No!
Reasoning?
Student loans here in the states are "monkeys " on the back of those who must payback the loan.
Not worth it in the US unless your gonna make a ton of money so you can pay it back faster.
Will the return on that investment of time be worth it? If it’s required for the field you’re interested in then yes, otherwise no it’s not worth it.
I foolishly went to art school and graduated before right before the shit show in 2008 and now almost everything I learned can be done by AI. Crazy times now but still enjoy and use the skills I learned.
I’ll probably be 60 years old when I pay off my loans unless they actually forgive them after 20 years of payments.
Get the loan put it into bitcoin start a bitcoin university so others can do the same..
Yes, take the loan. I used one to buy a motorcycle in college. Student loans don't impact credit score and they are often forgiven.
What are you going to use it for? If you are going to start something that will gain you cash flow… maybe
But that cash flow needs to be greater than the what you will pay back with interest.
If you hold on to the cash it will inflate away… maybe fast maybe slow. And if you buy something that is just to have it, you are paying the principle and interest in the further for it…
TLDR better have a good reason, especially with higher interest rates
My econ prof (when a student) had a full ride scholarship (no tuition). He maxed student loans (usually cheapest interest), dumped all in index funds. Graduated debt-free and up six figures. Risky, but it paid off for him.
Depends on your terms when do you need to pay it back and what is the interest rate but I would seriously consider taking the money and put it all in Bitcoin 😁.