The private college costs more than double what the public university does.
Now imagine that your parents did their best over the years to sock away money over the years for your education, and they were able to save enough to cover four years at a public university.
If the public university offers the courses you want to take and fits into your plan, then great: You can graduate from college debt-free!
But what if it has always been your dream to go to Yale, or some other private school.
All you can do is weigh the positives and negatives, the advantages and disadvantages, and make the decision that seems best for your own personal situation.
With that in mind, I wanted to compile a list of all the major pros and cons of taking out student loans to pay for college.The decision you make is, ultimately, your own, and whether or not going to the more expensive school is the better decision will depend on your own financial situation.That being said, the fact that student loans offer the is definitely a positive.Are you wondering if the cost of student loans are worth it in the long run?The answer to those questions is highly dependent on each person asking them; the answer won’t be the same from me to you or from you to your siblings or friends.The average cost of college tuition, room, and board for the 2017–18 academic year is between ,770 (4-year, public, in-state) and ,950 (4-year, private), according to College Board.How many college students or recent high school graduates do you know that can afford between ,000 and 8,000 for four years of college?I would definitely say that something that allows you to follow the American Dream and earn a quality education can’t be bad.Look at the chart above, and notice the huge difference in price between a public 4-year college and a private 4-year college.Without them, a college education could be out of reach for millions of students every year, often making them a necessary evil.Are you trying to decide if taking out student loans to pay for school makes sense for you?