Assignment week 5 - have often thought about how I plan on...

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1. Assignment: Student Loan Summary and Certificate of Originality. Resources: The Fair Credit Report Agency and Avoiding Scams Reflect on how this article may be relevant to your future. Write a short summary of 200-300 words addressing the following questions: o What are some future consequences of borrowing too much debt? o How do you plan on repaying your student loans? o What is one positive thing you can do to keep your student loans under control? I needed to take out a student loan in order to go to school as most I believe have. Some of the consequences of borrowing too much debt is your credit gets shot and becomes awful. You are unable to get a car a home or maybe even an apartment. You will not be able to apply for students’ loans or personal loans, and you will eventually be harassed. Eventually taken to court and have judgments put against things you own. I
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Unformatted text preview: have often thought about how I plan on repaying my due to I am not working at the moment. In the next month I plan on making a financial plan to be able to put money into the loan once a month if not more than that. I want to make sure I can take care of all the bills and put money to the side to save as well as pay some to the loan even if it is $20.00 here and there that way by the time I get the job I can put a bigger amount and when I graduate I would of already put money into it. One of the biggest positive thing to do to keep your loan under control is watch the amount that you are given don’t overdue yourself. I feel most don’t really know how much they take out. I feel if you pay a loan little by little you won’t have a huge surprise after you graduate....
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