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What are some disadvantages of going into college debt?

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Higher education can be a great thing because it can open many doors for employment opportunities and career advancement. The primary problem with attending college is that it can be incredibly expensive to matriculate at an institution of higher learning. read more

Going into debt for college isn’t necessarily a bad thing. Taking on debt and paying it off is how you build your credit. It’s a very reasonable (and even smart) way to pay for expensive things like houses, cars, and college. Problems happen when you take on more debt than you can reasonably afford -- when your debt outweighs your income. read more

Four years of savings can add up to the down payment on a house or some other financial goal. Young people who spend four years working instead of attending college can find they have a financial nest egg instead of a pile of debt. Limited Real-World Experience. College classes are largely theoretical. read more

You may want to invest the money you would have spent on your degree on going into business. Disadvantage: Delaying the Real World If you decide not to attend college, you are able to get out into the real world to work, travel or volunteer. read more

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Pros and Cons of Student Loan Consolidation for Federal Loans
Source: debt.org

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