Eljah has an opportunity to study abroad, but this will cost $5000 more than his regular college tuition. He wants to have a career in international finance when he graduates, so this opportunity will be particularly valuable for his career. His parents encourage him to go and tell him that they wil help pay back the loan next year when they are done paying his brother's college tuition. Is this a good use of credit?

Question

Eljah has an opportunity to study abroad, but this will cost $5000 more than his regular college tuition. He wants to have a career in international finance when he graduates, so this opportunity will be particularly valuable for his career. His parents encourage him to go and tell him that they wil help pay back the loan next year when they are done paying his brother's college tuition. Is this a good use of credit?

(6 point)
A. • No, he cannot be sure of the terms of the loan.
B. • No, students should never go into debt for education.
C. • Yes, it will benefit him and his parents pay some of it.
D. • Yes, borrowing is always fine if it is related to education.

Answer 1

C. • Yes, it will benefit him and his parents pay some of it.

This is a good use of credit because Eljah has a clear career goal that will be furthered by studying abroad, and his parents have agreed to help pay back the loan. Additionally, studying abroad can provide valuable experiences and skills that will benefit him in his future career in international finance.