7 Steps to Determine How Much You Should Borrow for College
The value of a college degree continues to rise in today’s economy. Unfortunately, the cost of a college education continues to rise as well. Many students turn to student loans to cover the cost of their education. “Taking out a loan to pay for your education is an investment in yourself and your future,” says Suzanna de Baca, vice president of wealth strategies at Ameriprise Financial. “At the highest level, it's a very positive use of debt. But like any debt, you do want to make sure you are not taking out an excessive amount, and that you will have the ability to repay it.” […]