Gabriella CampasMs. Kristin LittleEnglish 102 “The DANGER of Student Loans” In the United States, students who received student loans owed an average of $26,000. Due to this dire situation, students should avoid receiving any type of student loan to avoid debt that cannot be paid. A student must know the definition of economics, finance and money. What is the economy? It is the process of making a living. What is finance? It is the process of managing your money. What is money? It is an indicator of man's capacity to reason, create and produce. If a student knows these three elements, he cannot under any circumstances be induced to obtain a student loan. Should universities turn away students because most families cannot fully support the college-going child and earn a living, so-called comfortably in residence? Student loans were granted to provide financial assistance to any student wishing to obtain a college degree. All they had to do was repay the loan. After adjusting for inflation, students now borrow twice as much money as they did a decade ago. In 2013, student loan debt reached $1 trillion, worsening the country's national debt. How does the government think we will be able to repay this amount? What benefits can loans offer to students who are paying for college on their own? Many people think it's okay to get a student loan as long as you pay it back later. “So I’m just going to get a loan and pay it back after I graduate from college.” Then I'll have a good job, make a lot of money, and pay it back on time. Good plan? A recent survey showed that 53% of college graduates are unemployed. Additionally, 37.8% of college graduates worked in jobs that did not require a college degree and received minimum wage. which almost always has hidden fees. Student loans help build credit, loans will be the first major financial transaction in a student's life before deciding to purchase a home or car. How to pay for college is a complicated decision and as important as choosing which college to major in and whether to live off or on campus. As a first-year college student, borrow only what you can afford to repay after graduation, based on the income generated in your career field. Ultimately, the community will drive society to get universities to consider providing good quality education for student success at an affordable cost. This question will always be raised and will ultimately require a final decision on the part of the student himself in order to justify the means of student debt..