MUSINGS BY DIANE:

I am a huge supporter of education, but the typical borrower is usually not prepared to predict if, and when, they can pay back a loan.  Instead, some borrowers view it as “free” money and assume that they will find a way to pay it back “sometime”.  Typically, they do not finish their education and end up in a job that barely supports them, and their family.  Certainly they cannot afford to buy a home, save for unexpected expenses or pay for their own child’s education  It becomes a terrible cycle of borrowing, failing to pay, having their wages garnished, which now means they definitely cannot afford to pay rent.   This becomes a cycle of life for them, their children, and their grand children. 

There are alternatives – school grants, scholarships, an extra job, or help from family.  Never be too proud to ask family for help, if what you want to do it get a good education.  But, never see school loans as free money – they come with disastrous price tags.

– Diane L. Drain
547 words|2.9 min read|Categories: scams, Student Loans|By |Published On: May 17th, 2021|Last Updated: October 25th, 2021|

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Diane is a well respected Arizona bankruptcy and foreclosure attorney. As a retired law professor, she believes in offering everyone, not just her clients, advice about bankruptcy and Arizona foreclosure laws. Diane is also a mentor to hundreds of Arizona attorneys.

*Important Note from Diane: Everything on this web site is offered for educational purposes only and not intended to provide legal advice, nor create an attorney client relationship between you, me, or the author of any article. Information in this web site should not be used as a substitute for competent legal advice from an attorney familiar with your personal circumstances and licensed to practice law in your state. Make sure to check out their reviews.*

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Law Office of D.L. Drain, P.A., Arizona Bankruptcy Lawyer - Martindale-Hubbell Award
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