Review:
Student Loans
overall review score: 3.5
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score is between 0 and 5
Student loans are financial instruments that help students pay for higher education expenses, such as tuition, books, and living costs. These loans must be repaid with interest after the student completes their education.
Key Features
- Interest rates
- Repayment plans
- Loan forgiveness options
- Income-driven repayment
- Federal vs. private loans
Pros
- Allow students to access higher education who may not have the funds upfront
- Investing in future earning potential
Cons
- Accrual of interest while in school
- Can lead to significant debt burden post-graduation