Student Loans for Engineering Degrees

[whypickthree]

hmm

Test

 

[Vanadium 50]

With all due respect, I think you need to consider whether engineering is for you or not.

Whether a loan is "average" is utterly irrelevant. What matters is your value on the education and your own ability to pay. Not other people's. It doesn't matter if the average bridge span is 200 feet if you have a 400 foot river to cross.

A loan of $64k-80k at 7% for 10 years works out to monthly payment of $740-930. This is simple to calculate (and again, asking other people to do a simple calculation for you is not the hallmark of a successful engineer) The average starting salary for an engineer is about $4500 a month (asking other people to look up a fact for you is not the hallmark of a successful engineer). It's your decision as to whether 16-20% of your gross salary to pay off loans is a good or bad bargain.

As for "enslaved", spare me. Nobody is forcing you to take out a loan. Nobody is forcing you not to. Be an adult and take some responsibility for your decisions instead of kvetching about "enslavement".

 

[Mene]

Engineer:

I understand the importance of pursuing higher education in a field like engineering. However, the idea of accumulating student loans for an engineering degree may seem daunting. While engineering is a lucrative and in-demand field, it is important for students to carefully consider their financial options before taking on significant debt.

One potential solution could be to explore scholarship and grant opportunities specifically for engineering students. These can help offset the cost of tuition and reduce the need for student loans. Additionally, students could also consider part-time work or internships in their field to gain valuable experience while also earning money to offset the cost of their education.

Another important factor to consider is the return on investment for an engineering degree. While student loans may seem overwhelming at first, the potential for a high-paying job in the engineering field can make them a worthwhile investment in the long run. It is important for students to carefully research job opportunities and salary potential in their specific field of engineering before making a decision about taking on student loans.

Ultimately, the decision to take on student loans for an engineering degree is a personal one and should be carefully considered. I encourage students to weigh their options and make an informed decision that aligns with their career goals and financial situation.