school loans

A
time when compound interest is not been in my favor.

David
Vaughn

Quantitative
reasoning/501

Dr.
Jerry

2/26/2019

A
time when compound interest is not been in my favor.

            A time that compound interest may not be in my favor is
the interest accumulated for my school loans. When I finish college I will have
amassed more than $60,000 in debt to my school loans. My servicer has already
began harassing me and has said the loans will take 300 months to pay of with
what I have now. I did not submit the information, but they are aware of my
income. I can not see many other reasons to take out loans. I may have
considered a small business loan at one point, but seeing the problem with
creditors does not seem worth it.

Conclusion

            Deciding to take out a loan is different for each person.
I used some of my excess in loans once when trying to get a associates degree.
I wanted to get my car fixed. So I took out a loan. It was not a bad idea at
the time but it was something I thought I wanted to be in control of. I feel
that it takes a certain amount of responsibility.