My brother called and asked whether I thought it would be wise to take out student loans for his first year of college.  Well, you know my response based on the post title, but let me give some background information and biblical support.

I was the first person in my family to go to college. I couldn’t stop there though. At the time I had to prove to the world that this black girl from a poor inner city neighborhood, who lived four houses down from a brothel ( a polite description of it), could be anything she wanted to be. So, I went to an ivy league university and after graduation I went to law school. So what was the price tag for all of that? To be honest, I don’t even know. All I knew was that I had scholarships, worked three jobs, and of course, grabbed easy to get student loans. Now that I’m a Christian, and God has renewed my mind by His Word, I had the opportunity to counsel my brother on whether he should take out student loans.   And what did I say when he asked? No!

I already hear the gasps. How could you do that, look at the opportunities you had?  How else will he go to school?  Are you against going to college?  Each of these questions deserves  separate posts.   And perhaps I’ll write some in the future.   Here’s why I told him no.  I told my brother no because the Bible says so.   I could testify to the truth of Scripture with ample evidence from my life and my peers’ that student loans will enslave you for many, many years after you graduate.

The assumption that counselors make when advising students to take out loans  is that students will make enough money after they graduate to pay back the loans over time.  Or, as I posted earlier, your loans can be forgiven after 10 or 25 years if you qualify.  I found out personally how biblically wrong it is to presume the first, and how unethical it is to rely on the second.  We’re warned in James,

“Whereas ye know not what shall be on the morrow. For what is your life? It is even a vapour, that appeareth for a little time, and then vanisheth away.  For that ye ought to say, If the Lord will, we shall live, and do this, or that.  But now ye rejoice in your boastings: all such rejoicing is evil.  Therefore to him that knoweth to do good, and doeth it not, to him it is sin.” (James 4:14-17)

Having student loans did not help me in anyway. In fact, it greatly hindered me.  Without student loans, I would have achieved more success in my businesses at a much faster rate.  Having student loans was literally like having an anchor attached to my ankle, being thrust in the ocean, and trying to swim upward, all the while hopeful that I will make it to the top ALIVE if I just swam over time.

Even if my brother decided to get a corporate job or work for someone, having loans would be an awful way to start a family.  Knowingly and willingly bringing debt into a marriage after you’ve been counseled rightly according to the Scriptures is hateful.  That’s not loving to  his future wife and kids.  He may not be there yet, but we “older” Christians have and should be counseling the youth both wisely and truthfully to stay away from student loans.

So, you’re accountable now that you’ve read this and related posts. What will you say when your brother, or anyone asks you advice about taking out student loans?
Click here to sign up for our newsletter to get exclusive articles and our free report: Non Biblical Ways to Eliminate Debt.