Which "Why" is more important to you?
Why should you should prep for the ACT?
Ben Franklin said, "By failing to prepare, you're preparing to fail."
You need to get a 36 - which is a full ride - which is $100K by taking a difficult test.
You know you should prep, but do you know WHY?
A student loan after 4 years for $100K is about
A loan for $100K with an interest rate of 4.66% for 10 years is a $1044 per month.
Read that again. Let that sink in for a sec because I'm about to add some pain to that very realistic calculation.
You have a six month grace period before the 1st payment is due. In that time, you have to find a job in your career field, where ever that takes you, set up your living scenario, or apply and prepare for another college degree, where ever that takes you.
Just about the time you finish all of that, in comes your first $1044 payment.
Without fail each month, that has to be paid.
Depending on how well you kept your credit up during college, this monthly payment can be a credit killer.
Let's fast forward 5-7 years. You have a good job, but you also have a house payment plus bills, a car payment and insurance, gas, food, and entertainment.
Oh, and you still have to add in the monthly student load payment of $1044. All of this can easily add up to thousands a month in bills.
Can your parents handle that kind of payment? Should they bare that expensive alone?
Many students go into default and ruin their credit because of their student loan obligation. When this happens, it gets harder to make big purchases or get loans and credit cards at reasonable rates.
That monthly payment can also hinder the finer things in life that you would want. Knowing you can't buy something you want or take a vacation somewhere you enjoy.
So that's one reason why you should prep for the ACT.