Debt vs degree: Are loans worth the price of college?
Colleges can provide a lot of advantages and, for some, may be a worthwhile investment. However, due to the astronomical prices, many students are forced into taking out loans with high interest rates that are difficult to pay off. Natalia Abrams, Student Crisis Center President and Blake Zeff, Director of Loan Wolves, join Yahoo Finance Live to discuss the issue.
When asked directly if college was worth it Abrams said "I feel that higher education is absolutely worth it but, student loans, no, it's a really difficult financial product for people to take on. There is so much dishonesty and craziness that goes on... so for loan borrowers, they may not feel that the loan itself is worth it, but the education is."
Zeff "these loans are very complicated financial instruments, they have compounding interest up the wazoo in many cases, which means that you could start paying down your debt right after college, but the interest is so high and it multiplies that it just becomes impossible to get out from under it."
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