Student loans have been helpful for millions of Americans. Yet they have also been a thorn for many Americans. How can you decide if a student loan is the right decision? First, treat a student loan as if it was a piece of property. Is the education you are pursuing going to allow you the income in the future to pay off your student loans. If you are pursuing a degree in social work and the student loans amount to $100,000, will you be able to payoff the student loans with your future income? If you are unsure how much someone earns in a particular field, do some homework on-line.

Next, make sure you explore all your student loan options. Make sure you are selecting the least expensive options. For most students there are grants, work-study options, and fixed rate student loans. Then there are the private student loans that usually require a co-signer.