Question

Because interest is usually tax deductible and payments are deferred until you graduate, it is good advice to take out the maximum student loan for which you can qualify. true or false?

Answer 1

Taking out the maximum student loan for which you can qualify is not good advice, as it can lead to accumulated interest and higher repayment amounts. It is important to carefully evaluate your financial needs and borrow responsibly.

Step-by-step explanation:

It is false that taking out the maximum student loan for which you can qualify is good advice. While it is true that borrowing for a college education can make economic sense, it is important to consider the long-term benefits and costs. Interest on student loans can accumulate quickly, and the more you borrow, the more you will ultimately have to repay. It is advisable to carefully evaluate your financial needs and only borrow what is necessary to cover your education expenses.