The personal finance guru cautions against student loan debt and breaks down how to avoid it.
SUZE ORMAN: I’d say you have to understand that when you take a student loan out, student loan in most cases are not dischargeable in bankruptcy. So you may want to go to some fancy schmancy school. And who knows if that degree will ever even pay for itself. Giving artificial intelligence now with all jobs in my opinion, being replaced. But you should not take out a student loan. That is more than what you expect to earn the very first year out of college. If you don’t listen to me, you could end up in big financial trouble. And parents do not take out parent plus loans for your children. Let them take it out themselves. Or if they don’t have the money. There is nothing wrong with going to a community college.
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