7 Biggest Financial Mistakes That Young Adults Make

6 – Taking Out Student Loan for Unpromising Degrees

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Taking out student loans can potentially be detrimental to an individual’s overall finances, especially if taken for a degree that might not be helpful in a lucrative career. If the degree in question has the potential to improve the financial circumstances of an individual and enable them to comfortably pack back the loan, then it is a wise decision. However, many students take out student loans for degrees, which might not give an adequate financial return, and they struggle to pay back their loans in the future.