Are Student Loans “Secured Assets”?

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Thought for today:

Many of us thought of student loans as being “secured assets“, but they are not.  Degrees are valuable, but are not financial assets.  The education we get is not technically an asset.

Although student loans are usually cheaper than credit card debt, they are just as dangerous for the compulsive debtor to engage in.

A member shares:

“I was out of work and went back to school.  I had to take a student loan to pay for my education.  That was ten years ago, and I’m still paying.”

What are the options as a debtor?

In DA, we don’t debt, one day at a time.  But if we are in school, we may feel bound to the typical loan process of year after year taking on more debt.

The idea of going to college entices, because we get a well-rounded education.  We learn how to think.  Trade schools offer an alternative, but they can also be expensive.

If we are creative and interested in technology in a growing field, we can find online education and self-teaching opportunities.  With many of these, we need only pay for a certification test, or else pay a small tuition (when compared to traditional college).

In DA, we learn how to think about debt.  We track our expenses, and discover what we really need to earn in order to survive.

We discover alternatives. We put our loans in deferment if we are going thru hardships.  We get creative with living arrangements and book purchases while in school.   We work the DA program.

Eventually we make repayment arrangements that put our needs first.


Am I getting my money’s worth from my education, past and present?

Meditation for today:

We are all students of life.  We can all learn from enumerable places.  We can also add our own creative spark to any situation.

Affirmations for today:

“I am finding the answers I need.”

Recommended reading: 

How to Get Out of Debt, Stay Out of Debt, and Live Prosperously*: Based on the Proven Principles and Techniques of Debtors Anonymous

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