Student Loan are to some people a blessing and a curse.Student loan refers to money the government gives to students who intend on furthering their education usually at university level, but obviously as the loan part covers with the expectatation of getting it back usually in installments once an individuals income is over a certain threshold.
Some students, genuinely need student loans and are prepared to work harder at school due to understanding the sooner they pay that loan back the sooner they can begin to reach the apex of financial success. The super motivated students really most times have no problem doing large or attempting seemingly impossible tasks as expressed by the likelihood they probably are at good universities studying something they’re passionate about looking at good employment prospects. These students understand the value of that 1st class degree, even they understand that loan just means they will be a couple steps financially behind they’re non loan peers this motivates them to work that much harder.
The need to pay back these student loans although does sometimes tends to lead these highly motivated now graduates to select jobs based on pay without considering other areas that could motivate them. For instance, the rapid increase in Ivy league and Russell group Engineers deciding to go into the financial trading industry instead of engineering firms .These motivated students are those capable of making breakthroughs in these industries that could revolutionise the world. Unfortunately these contributions would forever be unrealised. Although it must still be said, obviously not all engineers in the financial services industry got in to payback to pay back their student loan.
The student loan is a very good way of making sure everyone gets a higher education but if the government does come up with a way of reducing the burden of repayment, would we really see an increase in innovation in other more useful aspects like education or medicine?
Your opinion is always welcome.