Should I get a loan?

Discussion in 'Self Improvement and Being Successful' started by Chrisj0401, Oct 18, 2009.

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  1. Chrisj0401

    Chrisj0401
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    Not right now...

    I'm considering getting a loan but don’t want to... I just see that to try to get into my field as soon as possible is best. Just incase for some who don’t know my plans I'll repeat it in this new topic... And as some may know I hate being in debt for any reasons, I do rather save. But in this situation would be different as it's debt for my dream job/career, and if I do a very good job and move up the corporate ladder I can generate lots of income and pay off the debt faster.

    - College between Jan2010-2014(estimated time) - B.S. Business Administration

    - Get hired around my local area with degree

    - Pay off all debts with new job (but educational debts which I don’t know how much would it be), just my debts I got right now which is around $15k, and may be $8-$10k by the time I'm done with college.

    - Save or get a loan for $20,000 to live on while I internship for 6months (maybe 12) in CA or FL at production studios for my director/producer career. Also I'll be trying to get a part time job as well while interning to live on and pay off the loan if I get one.

    If I save $20,000, that could take 2-3 years. So, those 2-3 years I could already be in the business I want to be in and have experience from my field, instead of being in a job that isn’t my career in a field I have no long term plans to be in.
     
    #1 Chrisj0401, Oct 18, 2009
    Last edited: Oct 18, 2009
  2. Fergal

    Fergal
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    Are you asking if you should get a loan, when you finish college? If that's your question I'd suggest that there is not much to be gained from thinking about it now. Your circumstances could be very different in four years. There may be other opportunities available to you at that time, that would mean you wouldn't have to get a loan.
     
  3. Chrisj0401

    Chrisj0401
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    Yea get a loan after college, but not right after college.... I want to first get a job with my education in my local area, and while I work there pay off any debt that isnt school/education related that I would still have. Once that goal is completed then I want to pursue my goals in getting into my specific field as soon as possible & achieving primary career goals. The best I can do around my local area is stick to business related jobs, but in whatever industry... not in my industry which is TV Production for Dramatic TV Shows & Adult Videos (mostly adult video).

    I know I would love to go to a studio over here in my local area, but there isnt any.. only FL or CA... So, I need an internship within my industry, which is working for a company for free, in order to get the experience & contacts within my industry. In four years I'm pretty sure I'll still have my current debt. And once I'm in an internship program or whatever like that in FL/CA I cant live for free. Living expenses would cost up to $20k for 6months (depending on the economy), more or less. I know that it would be much cheaper for me to go around my local area, but it's just bad luck that I don't live near any studios. Other opportunities would be winning the lotto, sadly... or If I'm "discovered" by some talent agency as a Director, which is extremely doubtful with my lack of work (no work yet).

    I know I shouldn't think this far ahead, but it's a big life decision so I wanted some pointers from experienced people from here like yourself to point me in the right direction of which areas to look into like a loan as to funding my internship. Instead of waiting 2-3 years saving and not getting the experience & contacts I need within my field. I think it's a smarter deal to get into my industry as soon as possible than waiting. Heck I want to get into my field right now, but I know do so well without my education first. And it's not easy getting an internship and getting a part time job in an area I'm not familiar with.
     
  4. Fergal

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    It's good to look and plan ahead. However, the world is changing very fast and will probably be a lot different by the time you finish college. The circumstances could be so different then that any decision you make now could be completely irrelevant by the time you finish college. If I was you I'd focus on more immediate issues for the time being.
     
  5. dipcliper

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    should you get a loan?!
    think..
    what am i going to do with the loan? do i need it (ask yourself 3 times)
    is it worth?
    how am I going to pay it?
    will i benefit from it?
    then you would know the answer:)
     
  6. youbetcha1018

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    Obtaining loan is very popular to many people esp to students. However, there are so many loan companies who take advantage of such situation and they lend you the amount you need but put a bulk of hidden charges on you. You may want to check this site: online payday loans, I am not sure if they can offer you an amount that you need esp if you do not have a record of proof. So, before obtaining a loan you might want to think about it. Think twice, because loan is not just getting the money but it means BORROWING and PAYING. Good luck.
     
  7. punik99

    punik99
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    Re :

    Merchant cash advances are based on a merchants future credit card transaction volume and are a simple, hassle free alternative to provide unsecured working capital for merchants up to $500,000 per location. If you are in need of a business loan, Merchant Cash Advance will meet all your needs. Merchant cash advance program is designed as a convenient way to get the money you need for your business when your company needs a business cash advance most.
     
  8. johnyboy2157

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    Being a student of Economics i could not any one that "loan is curse" because loan is just capital , & its effect will be taken into consider when we planned about it,if you have a solid feasible plan & experience to do something in business sphere than must take it. Loan is very fruitful when it used for constructive purpose.
     
  9. Alexishost

    Alexishost
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    Plan it!
    If you want to start a business, make a plan about with- Many business can be start up with no funding. If you have solid business plan, certainly you can get good investor. -
     
  10. Fergal

    Fergal
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    Closing old thread. If the Original Poster would like it re-opened, please send me a quick PM and I'd be delighted to open it for you.
     
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