Greetings!
Taking a loan for a good reason or purpose is one thing I would always support in my life and this is because of the need for it in one's life. Although, some take loans for the fun of it, they use it on frivolous things which they do not need. Well, one thing is that they will still pay back the loan even if they get it and spend it on nothing.
I have heard a sister who got loan for shopping, well, that might be her priorities and needs back then, but to me and like I used to advise people that are very close to me, I would rather take a loan for something productive, maybe to build my business in order to make profit than to get a loan and spend it recklessly on frivolities.
Having said so much about loans and humans, I would like to delve into the topic of the prompt in the Hive learners community which is all about, “student loans.”
Before I proceed on the context of the topic in the Hive learners community, I would also like to advise anyone that's trying to take out a loan to please check or look at the terms and conditions of the loans before agreeing to taking the loan. This is very important. What this actually means is that, nobody should rush to take a loan no matter how important the loan is without checking the terms and conditions. So many people had fallen victim and could not even repay the loan facility just because they agreed to the wrong interest of the loan.
This is by the way. One of those loans I would gladly go for is the student's loan. It's a pity it was not in place when I was still schooling. Had it been in place, I would have gone for it. But I would not do this without checking the repayment mode and the terms and conditions made available for obtaining the loan.
As for me, if the terms and conditions are okay, I would without any form of hesitation go for the loan as I believe it would help me to see out my academic journey in the field of my study in the university.
Like what was stated in the context of the prompt topic, I would prefer paying the money with my increased tax as soon as I get a well paid job which I believe the government should put in place for all the students just to reduce the rate of unemployment in the society. So, if the government can guarantee us a job after our study in the university, paying the money with an increased tax rate should not be my own problem.
However, if there's no job in place, it would be kind of difficult to pay back the loan as the interest would have accumulated to the extent that it would be kind of difficult to pay back, even if there's nothing like interest on the loan just because it's a student loan, it would still be difficult to pay it back with a job. One thing that would make the repayment easy is for the government to create job opportunities for the teeming graduates or better still teach the the skills that would make them self employed.
This is my entry to week 237, episode 03 of the weekly featured contest in the Hive learners community.
Thanks for reading.
Picture sourced from metaAi.