Student loans are a very good solution for those who cannot afford the studies with high fees. Colleges like Harvard and other renowned colleges definitely do not allow a person if he has a grade below those who are allowed to join the college. These colleges have very high fees which are unaffordable to a below average person or a person who is unemployed or a student who finance his or her own studies.
There are only two methods you can finance your studies or study at good universities like Harvard. One way is that you pay the fees or other method is that you have enough score to get the scholarship. But the latter case is exceptional and not everyone can get the scholarship very easily. Therefore, you have to first make that much money so that you can get enrolled in good universities like Harvard. The other way is to go for that much score so that you can easily get scholarship.
But scholarship is also limited and only given to deserving students as well they should have enough score. If you deserve but do not score highly, then you will not be eligible for the scholarship and definitely you will have to go in some university with lower fees and consequently low level of output. Of course every student wishes and wants a good job. Students or pass outs from a university which is not that much renowned or which had low number of enrolments per year or have low educational quality standards do not get that much greater posts or position in practical field as the students who are pass outs from the renowned universities. Therefore, everyone has to go for the loan.
The loan can be from private banks as well as from Government. Private banks require higher interest rates as they always do and it becomes harder for the bachelors or pass out to return that much big amount. Therefore banks are not that reputable in financing the studies of deserving students. Instead, the federation or government is still playing a vital role in financing the students’ education. They provide several types of loan depending upon your need. You can get those loans and complete your education. You have to return these loans with interest after you have completed your studies. You do not have to worry during your studies about the returning of these loans.