A college education is a great pursuit and there are an untold number of benefits available after receiving a college degree. There are a number of concerns about college though. One of the biggest concerns for those looking into college is the possibility of student loans. While student loans make college a possibility for many, they have to be paid back at some point.
Student loans are a significant debt that can be a challenge for many to pay off even after they’ve started their career. Just ask the Jacksonville Jaguars’ star rookie receiver Cecil Shorts III, who according to Fox Sports in “Cecil Shorts paying more than his dues in NFL” still owes on his student loans even after signing a multi-million dollar NFL contract. Shorts went to a Division III college that didn’t offer sports scholarships. Although he worked whenever he could, as with many other college students, he found that loans were necessary to pay for college, which is how he managed to become an elite athlete while still owing about $50,000 in student loans.
For Shorts this is a personal decision to pay the monthly balance rather than completely paying off the loans, but for others student loans are much more of a challenge. They can be a significant debt, and for those that don’t make million dollar salaries, loan payments can take up a significant portion of their income. The fact that professional athletes are still paying off student loans is a testament to how much money is required to attend college. But as Shorts has shown, with enough hard work and determination, anything is possible.