Summary: In the article Benefits and Pitfalls of Student Loans, advantages of student loans outweigh the bad pitfalls. College is a landmark in our lives and it is really important. Colleges prepared us for a better-paying job and future. However, we need to take serious and careful consideration before borrowing student loans because if students fail to pay back a student loan, a bad credit rating will be kept from getting credit cards or other loans, and other banking products.

There are many benefits of student loans. For example, student loans allow us to have a longer college experience which can get us more prepared for future career, students loans let us live away from home which are many teenagers’ dream, etc. Many people worried about how to pay off all those loans after they graduate, but the study shows that one of the best ways to make more money is to borrow money for college. In other words, it is worth to borrow student loans to go to college. According to Bureau of Labor Statistics (BLS), “average four-year college graduate makes nearly twice the monthly salary of someone who only has a high school diploma. Even when compared to students who take some college classes but don’t earn a degree, four-year college graduates make nearly twice as much in salary—and their unemployment rate is a little more than half, meaning they are much more likely to be employed”.

On the other hand, there are some pitfalls about student loans. For example, if student decides to change majors halfway or transfer colleges, the amount of student loans will increase; if student chooses to drop out college, they still need to pay the loans back but it will be even harder to pay back. The article gives us a good suggestion at the end of that article, “make an honest assessment of your interest in your major before you bet too much of your future on it”.



“Benefits and Pitfalls of Student Loans.” The Best Schools,


CC BY-SA 4.0 Are student loans worth it? by Hannah is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

  1. Simon 1 year ago

    Hi Hannah, I really enjoyed this essay because it makes me think, as a high school senior, about where my life is heading and what I need to do to prepare. I think the most important advise I have been given is to decide my major and stick with it because the addition of more debt will only hurt you and set you back. I see myself changing my major however and that is why it has been the only subject I have been focused on for the last while because I need to decide. The benifits do outway the costs but only when you go about college the right way and don’t just mess around.
    Thanks, Simon

  2. Olivia 1 year ago

    I thought this topic was very interesting because many of us will be attending college in the Fall and may have to consider taking out a loan. I, too, agree that while student loans are a pain and may seem too expensive, they are worth it to complete college and find a well paying job. The point at the end was also very strong about assessing what you really want to major in before you bet too much on your future for a student loan. You may find this article helpful in future research: .

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