What are the opportunity costs associated with Student loans?
What will be an ideal response?
Answer: Depending on the amount you borrow and how long you are in school, you may end up with a fairly large loan balance to repay upon completion or termination of your education. Ideally, your education will allow you to obtain a decent salary that is sufficient to allow you a good standard of living while repaying the loan. Regardless, student loan payments are included in the debt limit ratio and 28/36 rule so they may prevent you from obtaining additional credit or a mortgage until you payoff the student loan. Student loan payments can be a burden on young families with children. You can't avoid or evade student loan debt via bankruptcy either.
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Indicate whether the statement is true or false