Everything You Need to Know Before Taking Out Student Loan Debt - Student Loans Explained 2020

Everything You Need to Know Before Taking Out Student Loan Debt - Student Loans Explained 2020

Finally making a video covering everything you need to know before taking out student loan debt. I graduated with $50k worth of college debt, and have been documenting my journey paying off debt ever since. There's so much info about student debt that no one teaches you in school, so this video is going to cover everything I wish I knew before taking out student loans. This is a 'student loan debt explained' intro video to anyone who is having trouble understanding how student loans work, how much student loans do I need to take out, how student loan interests rates work, etc. I also explain the difference between government vs private loans for college, and which ones are better.

Let me know if you have any questions or want to see a part two on paying off student loan debt!

0:00-1:08 intro
1:08 student loan basics
2:32 government loans
6:45 private loans
9:18 how much should you borrow

WATCH NEXT -

STUDENT LOANS -

GETTING A DEGREE -

MAKING MONEY -

CONTACT ME -
IG - @lynetteadki

CAMERA GEAR -

[LynetteAdkins]

What other questions do you guys have about student loans? Lmk!

[EmelyTolentino-yu]

You should keep in mind that there is also the option of starting your college career at a Community College. Don't let people make you believe that you are less than or underestimate the education you would get at a community college, plus they are not going to pay your debt at the end of the day. I did my first two years at my local Community College and didn't pay a thing! I'm in the process of going to a 4 year university at the moment and about to take out some loans for the remaining 2 years. But attending community college cut the price in half. You should research on-campus jobs that cover some of your fees at the college/university. For example, for my senior year I'm interested in becoming an RA (residential assistant) which would cover my room and board costs. With all of that being said, it's in your best interest to do your research because there are many ways to make your college experience more affordable!

[taylorf]

I sitting here crying and stress over having to take out loans for school. So thank your for this.

[handleyobusiness]

Debt, no matter what you use it for, should only be used for the short term. Preferably never.

[EmilyAnneAtHome]

I thought going to school loan free was impossible.
I graduated high school in 2020. Most of my peers have already gone to school. I haven’t. I’ve been saving. This fall I will be going to school with my program paid for in full.
No, I’m not going to an expensive university, no I’m not taking a 4 year program. Yes I will be working part time while studying.
But this time next year I will be graduating and starting my career debt free. I think that accomplishment is worth waiting a few years for.
Student loans are not your only option.

[anatineo]

Thank you, no one really helps or explains these things so I appreciate you making this video so much😩💕

[mini_mouseinthehouse]

I took out a lot of student loan debt, none private, but I am majoring in Cybersecurity and am comfortable with taking out that debt (at the time, only way I could see myself affording school, but I'll be still applying to scholarships ofc.)

[jM-kytp]

I only took out 5, 500 because that's what fafsa allowed but I really really regret it, all debt is bad imo

[JoshIsOnAMission]

1- don’t do it 2- read number 1!
Cordially,
Someone who has too much student loans

[sandraduncan]

I found out the other day that my us student loans through the government isn't covered by the cares act. Now I am scrambling to get into repay plan. Absolutely ridiculous

[catalinab]

Thank you so much for sharing this and going into so much detail! I appreciate you.

[maribel]

Loved this! Should be trending for more students to see this!!

[julioment]

Thank you so much for this info ! What are the best lenders for private student loans ?

[yasminevaljalo]

OMG purr this was so helpful thank youuu!

[Aieshoo]

Only take out loans if you are desperate. Try and work a part time job in school instead.

[jlea]

Love your hair. What products do you use for natural curls.

[paigelangley]

I’m bout to be studying your videos like a lecture

[shujayethossain]

Hello!
Does the private lender transfer the money to the student’s account or the school’s?

[karmahleone]

I wanna do Med Billing and Coding but I am afraid to take out the loan I was told I am not going to have to pay for anything while im in school..but once its finished 6 months after that I am gonna have to pay. Im hearing the interest is what kills and how we can be stuck paying for life😣😣😣 class starts on Feb 28th😭 Gotta make a choice

[angelncarroll]

What did you have to do to get real estate license?