Asian Spectator

Taking out a student loan for your child can hurt your own financial well-being

  • Written by Thomas Korankye, Assistant Professor, Personal and Family Financial Planning, University of Arizona
Taking out a student loan for your child can hurt your own financial well-beingParents who borrow for their children's college education say finances control their lives.kali9/E+ via Getty Images

When people take out student loans for themselves, certain risks are involved. The debt can negatively affect a person’s mental, emotional and even physical well-being. It can also harm a person’s financial well-being.

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