- Published: August 19, 2022
- Updated: August 19, 2022
- University / College: University of Surrey
- Level: Master's
- Language: English
- Downloads: 30
o When might a large amount of debt be an acceptable situation?
A large amount of debt might be an acceptable situation in case a person is sure to have the resources to pay out the debt in a timely manner. In addition, a large debt might be needed for an individual to get a degree. This, in its turn, will raise the person’s chances of earning more and, thus, paying out the debt successfully.
o What are the consequences of having too much debt?
The credit history gets damaged and lowers banking institutions’ trust toward such a client.
o How can you manage your own financial situation so as to minimize debt?
In order to minimize the amount of debt to be taken, it might be a good solution to work while studying. The money earned will help to pay for education. In addition, all the unnecessary spending should be cut in order for larger amounts of money to be available for educational expenses.
o If you plan to have student loans, what is one positive thing you can do to keep them under control?
I should be always making sure the payouts are made inappropriate amounts and on time.