⇚ Back : The Lowdown on Loans

Andres Arredondo: “Loans are really a reality these days. You know, quite honestly, more than 70% of students these days borrow loans – uh – to go to school.”


Jacob Pietsch: “I remember seeing subsidized, un-subsidized loans, all these different loans together in a package, and my family at first was hesitant.”


Andres Arredondo: “Loans from the federal government, that you get through the FAFSA, shouldn’t be too scary. Uh, they’re not based on your credit, or your parents’ credit.”


Maren Lujan: “The important part to understand is that student loans from the government are probably going to be your best bet.”


Lisa Blazer: “The good thing about the federal student loans is that they’re still low-interest-rate loans. Um, some of the loans actually don’t accrue any kind of interest while you’re in school – so that means that, if you borrow two thousand dollars, when you graduate, it’s still going to be two thousand dollars.”


Maren Lujan: “There’s loans that, after you graduate, you have six months to start paying off. They can fix your repayment schedule based on your income right after college.”


Andres Arredondo: “A lot of these loans, they give you ten years to repay, uh, after you graduate college. So on thirty thousand, it’s going to be a hundred dollars, maybe…which is less than you pay for your cell phone, at times. So it really is affordable.”


Lisa Blazer: “Maybe if you’re unsure about what you want to major in, uh, or you want to get some of the basics out of the way, the community college is going to be a good option – because you might not have to borrow any student loan money those first couple of years. And then you’re ready to go on to a four-year school, where you may have to borrow some additional funds to finish paying for it.”


Andres Arredondo: “A lot of students look at college loan debt – they say, ‘Aw, for thirty thousand – I can get a really nice car. Why don’t I just get a car, and not go to school?’ Uh, quite honestly, it’s about value.”


Lisa Blazer: “Actually, cars depreciate, so – your college education is an investment, so ultimately the great thing about getting a college education, and potentially borrowing a low-interest loan for your education, is – it gives you a selling point. It’s something to put on your resume and help build that career, because a college graduate is going to earn more money.”


Andres Arredondo: “Obviously it’s not guaranteed, but you have the potential to earn, you know, triple than, or quadruple than what a high school graduate does. So that’s – that’s why you really need to go to college.”


Maren Lujan: “Your education is something that will pay off in potential income, in health benefits, in work flexibility and scheduling – so the loans shouldn’t be a problem. You will be finding a better job to pay off these loans. Government loans, as opposed to private loans, are just going to be more flexible. They’re going to help you get them paid off.”