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Latwell Nyangu Youth Interactive Writer

Once upon a time, I used to hear that our elders invested in young people so that they could enter the world without debt.

But it seems I was dreaming.

Now, we have been turned into deadbeat debtors before we are even old enough to legally buy a drink, left far behind our financial betters.While it may seem tempting to borrow money to cover expenses or indulge in luxuries, it can lead to a cycle of debt and financial hardship.

Student debt and dead-end jobs have put many students in dire circumstances outside their control.

Living away from home provides an opportunity for personal growth and self-discovery but debts leave us in jeopardy.

In other words, a lot of students who recently attended college are in deep financial trouble. This should come as no surprise.

Being a student often means finding yourself in situations where you need to borrow money. Whether it’s tuition, textbooks, or living expenses, borrowing can become a necessary part of student life. But the curse of a student borrowing too much can have dire consequences.

High-interest rates, late fees, and the burden of repayment can quickly overwhelm students.

Debt-ridden students often face significant financial stress and struggle to pay off their debt. This can have long-term consequences on their financial well-being, as it can interfere with their ability to save money, invest, or make important life decisions like starting new things.

I have been in debt myself and I know the pressure and the pain.

At times we borrow because we don’t have and we will be in need to cover some energy and the challenges come when returning the money owed.

We have even surrendered our valuables to cover up for the debts. Some have even been taken to court over unpaid debts.

Such situations are common with students at college.

Additionally, borrowing too much can negatively impact your credit score, making it difficult to get loans or other financial opportunities in the future. 

Students need to exercise caution and only borrow what is truly necessary, while also exploring alternative ways to fund their education and livelihood.

I repeat it is important to be cautious and not fall into the curse of too much borrowing.

Being in debt brings stress and it can have effects in different ways. Being a college student takes a strong person and takes time to overcome success.

A student under stress can be dangerous, putting a threat to your physical, emotional, and behavioral well-being.  

I have noted concerns recently that some students end up committing suicide as a result of debts stress.

Although I don’t have specific statistics, I have come face to face with such circumstances where news has come out stating some reasons for some suicides.

Being in debt is not good for well-being, especially for a student who has no other alternatives.

Borrowing without a plan or budget can lead to a never-ending cycle of debt and financial stress. It’s crucial to borrow responsibly, only taking what is necessary and ensuring you have a repayment plan in place.

The burden of student debt is not shared equally.

 Overall, low-income students who attend college are more likely to borrow and borrow at a higher amount to complete a degree. Students who attend for-profit colleges, which overwhelmingly enrol low-income students, also hold much higher levels of student loan debt.

Some students borrow and end up in debt because they just want money.  Some end up approaching loan sharks that have seen them being in deep trouble.

Being mindful of your borrowing habits can help you avoid the curse and maintain financial stability while studying.

Life at college is a transformative and pivotal experience for many individuals. It is a time of personal growth, academic exploration, and social development.

 College life encompasses various aspects such as academics, extracurricular activities, social interactions, and independent living. This comprehensive detail will provide an in-depth understanding of the different facets of life at college.

College is one of the biggest lifetime expenses and longest commitments of dedicated time many people ever make. The cost of college continues to rise and news outlets regularly report the high rates of underemployment and unemployment among recent college graduates. As a result, some families question whether a college education offers a sufficient return on investment. Others are plowing ahead without thought and collecting six-digit debt burdens.

College is the worst years of your life, but everything gets much better when it’s over.

Life is still horrible and unbearable, but a little less.

Beyond academics, college life offers a plethora of extracurricular activities that cater to diverse interests and passions. These activities provide opportunities for personal growth, skill development, leadership experience, and social interaction.

College is a melting pot of diverse individuals from various backgrounds, cultures, and experiences. It offers a unique opportunity for students to interact and form connections with people they may not have encountered otherwise.

Social interactions at college play a crucial role in personal development and shaping one’s worldview.

College life is often the first taste of independent living for many students. It is a time when individuals learn to navigate responsibilities such as managing finances, cooking meals, doing laundry, and maintaining personal hygiene.

For a fact, being a student can be the most exhilarating time of your life. New friends, new places, and new challenges can all add up to a huge buzz.

But all those things can also make student life seem a total nightmare.

Financial worries, debt, exam pressure, the burden of homework, relationship problems, parental pressure, and so on, all together build up students’ stress, which can overwhelm any student. Stress is one of the biggest problems and challenges facing students who seek to get a good education today.

Above all, being in debt has much stress as lenders begin to hunt for you.

It is my prayer that we try by all means to avoid borrowing without a reason when we know we are not able to pay back on time.

Let’s be debt-free fellow students and peace shall be unto us.