Does Career Justify Loans?
Wendy wants to become a nurse, but thinks it requires a student loan. Wouldn't it make sense to get a loan and pay it back with her new income?
QUESTION: Wendy wants to go back to school and become a nurse. She makes $20,000 a year and can make much more than that. She is on Baby Step 3. Is it smart to get a student loan, become a nurse and then pay it back with her higher earnings? Dave doesn’t think so.
ANSWER: I wouldn’t do that. I believe in education and I think nursing is wonderful, but I wouldn’t do debt to get it done. Get in touch with the doctors and practices in the area and see if you can work for them for a few years in exchange for them paying for your school loan.