Be careful in taking out student loans: They will hurt you later when you are starting out and trying to establish savings and investments, warns a Boca Raton certified financial planner in a weekly email.
Mari Adam quotes the Pew Research Center as showing a young, college-educated adult without student debt has about eight times the net worth as compared to a counterpart who has loans from school.
It's $64,700 vs. $8,700, she advises.
Adam urges those with student loans not to delay in saving in 401k retirement savings plans.
"Save less, if you need to, but get going," she wrote. "With compounding, you can soon catch up, and your degree should result in higher earnings down the road."
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