So what's the deal on student loans?

There are many people out there who have them - are they the right thing for you?

Honestly, it's all about what you need. If you need to go to medical school, taking out a loan definitely makes sense since you will be making a lot of money when you get out. If you're taking out loans for undergraduate education, however, you probably want to rethink your decision.

Student loans are a serious financial decision, and many times students enter into loans because of the short-term promise of being around their friends at the university and having the full "college experience" - and when they graduate with their liberal arts degree they will be paying their loan off for the next 30 years.

Don't let this be you - think before you act. Student loans, like any borrowed money, has its purpose as an investment, not a crutch. They can really hurt you and your credit if you aren't planning to pay them back effectively, and the longer you wait the more interest they will acquire.

So, be smart. Go to a cheaper community college or take your classes one by one. Don't get student loans just to get student loans.