00:00There's no better way to make the right decision than by learning from the mistakes of others.
00:05If you're considering taking out student loans, keep these pieces of advice in mind.
00:10The HuffPost says to consider the life opportunity costs.
00:13If you take out a loan at 22 with a 15-year term, you'll be 37 when you start thinking
00:19about saving for other major life expenses.
00:23LendingTree advises you to only borrow what you need.
00:26They say that it is likely many of the estimated 43 million Americans with student debt wish they could take
00:32back time and take out less debt.
00:35Take your time before starting college.
00:37If you're taking a loan, it better be to do something you're certain about.
00:41Consider a gap year to adjust to adult life and get your mind straight.
00:45Beware of the sacrifices you'll need to make.
00:47If you're going to need to work while in school, you may not have time to also be an intern.
00:52If you have to pay off a large monthly amount upon graduation, you may not be able to choose a
00:58lower-paying job in your desired field.
01:00Lastly, some people wish they had known more about how difficult and expensive private loans can be and how hard
01:07they are to pay off.
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