Suggest one financial options that a student can consider if they cannot self-fund their future education at university.Also state the obligation towards each option
One financial option that a student can consider if they cannot self-fund their future education at university is to apply for student loans.
By opting for student loans, the student is obligated to repay the borrowed amount along with any accrued interest within a specified period, typically after completion of their studies or after a grace period. The repayment terms, interest rates, and duration can vary depending on the loan provider and the loan program chosen. It is essential for students to carefully evaluate their repayment capabilities and choose loan options that offer favorable terms to avoid excessive debt burden in the future. Additionally, students must adhere to the repayment schedule and make regular, timely payments to fulfill their obligation towards student loans.