Should I Take Out a Student Loan to Go to the College that I want?

Yes.

There is an understanding that everyone is entitled to financial aid and a free ride to college. Put yourself in comparison to the many prospective college students who have a real need--you may not actually "need" free money. The government will, however, help you by allowing you to borrow money for school.

There are very few exceptions to being considered independent and not using your parents' income for the FAFSA application. You either have to be married or have a child in order to show proof that your income is yours alone. Anyone under 24 years of age is required to submit parental income taxes. That's the bad news.

The good news is that you, not your parents, reserve the right to agree to a loan for your education. You can invest in yourself.

At this time of year, many students struggle with the idea of getting into debt before they even have a job. Well, you won't get the job you want if you don't choose the college that will motivate you. An education is good anywhere, but if you deserve the best, give yourself the best by trusting in your ability to pay back a few thousand dollars. The average monthly payment for a student loan is about $50-$150 dollars a month. If you're making $30, 000, you'll be able to afford this small payment.

Remember, you can defer a student loan and you do not start payments until 6 months after you are no longer a student. It doesn't get any better than that.