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21 June 2014

True Cost of Funding Your Education via Student Loans (Guest Post)

Many small business owners learned what they know about running a business and having a successful business from just trial and error. Others have been fortunate enough to be able to go to school for a degree in business and have learned from seasoned business vets just exactly how to have a thriving and successful company.

As the economic landscape at the moment promotes small business growth, many newly graduated business students are finding that sometimes to really get your career going you need to branch out on your own. However, just as investing in your own company can be risky going to school to get a degree in business can be risky as well. With colleges increasing their tuition every year it can be difficult for students to be able to fund their education on just grants or scholarships alone. Many students take on a part-time job while in school but many find it difficult to balance both school and work successfully. Thus more and more students are looking to student loans to help fund their education. In 2012, the average college graduate had about $26,000 in student loan debt and that is just the number for those that pursued a Bachelor’s Degree.

Furthering your education can be a costly investment but it can also reap in many benefits as more and more companies require applicants to at least have a Bachelor’s degree. College graduates also still earn significantly more than those without a degree. Although there are many benefits to a college degree, students should also look at what they might face after graduation, large amounts of student loans.

The infographic below by Consolidated Credit tracks the history of student loan debt in the last 60 years and gives you a little more insight into what a college degree can really cost you.

Consolidated Credit Counseling Services, Inc. is a nationally recognized and certified credit counseling agency. We offer credit counseling, debt management services, and personal finance education.

  • Guest Blog Post submitted by Maxine Wells, freelance writer who publishes material on a wide range of topics, such as women in business, and credit and finance.

Originally Posted on November 6, 2013 at 11:10 AM - Cinex Notes Services
CNS Blog was discontinued; eff date June 11, 2014.