It is a universal truth that any student who is planning to go for a higher education in a foreign country returns with a debt or passes out of the college with a debt. The student loans are the only ingredient which helps them achieve their dream of pursuing education. Especially those who hail from India, it is totally dependent on the kind of loan they get and what are the installments that decide the future.
According to a survey, ideally, any student who goes into a university in the US ends up with a debt of nearly $ 17000 despite various forms of cost cutting and adjustments in expenses. The most economic student who tends to prefer walking than taking a bus or preparing meals at home than eating outside will also end up with nothing less than $ 12000 debt. So, thinking that you will not be in much debt is something of fiction and not a fact.
The other thinking by many students is that they can pay off the debt the moment they start earning and it would be paid off in no time. However, an estimated calculation is that when the student passes out at the age of 21 or 22, it will take him/her the age of 29 to 32 to come out of it completely. Of course, if the university you have studied is top league and the job you got is great then it could reduce the burden by about 3-4 years.
With the average salaries coming down across many companies, it is important for any student to have a fall back option to repay the loan. Alternatively, they should also be prepared to sustain themselves during the time of not having a job if they don't get any. Of course, that doesn't mean one cannot go for an education. There are still many options and with proper planning it is easy to tackle the loan issue. Visit www.studentfinancevigilante.co.uk and you can get more details.