Are Student Loans Even a Good Idea?

[Wrong Way]

Are student loans even a good idea to have available? Young people graduate alright, but they do so in debt, often taking years to pay off. I'm not sure it's really a good thing. How about you?

[MasonHill]

I think it depends on what they plan on doing career-wise. If the student goes on to be a physician, then sure the debt is a good idea.

[chris.nz]

Can't complain about the NZ student loan scheme. Interest-free as long as you stay in NZ!

[maxey]

Many students would not have an opportunity to attend uni if not for student loans. I would rather see them start out in debt for an education than debt for a new car.

[gazza]

Well if they did not free load, when it was the thing to do then maybe we would not have such a problem

[kettlebellfan]

Much has been said about this. I think it does depend on a lot of factors. If somneone is from a well to do family and they can afford not to take the loans then they should forego it. On the other hand there are those who do not have the same facilities. In such cases you would be better off taking a loan. I have taken student loans as well and I am still paying for them. If I didn't do that I do not think I would be able to get quality education.

[Manny]

Why not get a scholarship from a company or from the school itself? There are different kinds of scholarship and I think everyone can fit in one category or another.

I'm against any loans because borrowing money will become a character of that person. I will take a loan only if it is really an emergency.

[Alissa]

Scholarships are limited in number and in amount and are normally only for the brightest and highest achievers. That leaves the vast majority of students out in the cold.

A lack of student loan would mean that very few students could actually manage to graduate.

[mezzomo]

I understand what you're saying here, but I think it's better to graduate from a college / university in debt than to choose not to go at all.

[stephan]

Yes. I cannot think of a better debt to have then one for an education. It's better than the alternative if you think about it.

[Bonnie]

I do not have a problem with student loans because this is the only way that many, including myself, can afford to attend uni. However, I do believe that you should carefully consider your options and goals before taking out any loans.

[slyjohn]

I think student loans are a great thing here in NZ. I do suggest that a person study the job market and find out what is really in demand, what will be in demand, and what fields are going to be saturated. If a field is saturated it means lots of people are going for that degree. Usually easy to get degrees but then there are far more people who are qualified than positions. Technical/trade skills are usually a good way to go here in NZ but still do your research.

[ritalynn]

Why are they allowed to let so many people get certian degrees when they know that there won't be enough jobs for people? Why aren't they forced to direct people towards education that helps with a skilled trade?

[countdrac]

I understand what you're saying here, but I think it's better to graduate from a college / university in debt than to choose not to go at all.

I agree with that. It really depends on the situation. If taking a loan is the only way a student can pay his tuition, there is nothing wrong to take it. It is worth to invest on education.

[nzgst]

It really depends on the degree. If you are doing a trade (engineering, medicine, etc) then they are a very good idea. If you are doing something like arts (English, geography) then they aren't because you are very unlikely to get a job in your field and would have been better spending the 3 years working your way up the ladder and saving $20-30K. I have very good graded degrees in Anthropology and Geography and to be honest, university was a massive waste of time as they have had no bearing on my current job. I was able to pay my way through university, however so there is no debt, just regret.