Loans are not as bad as we make them look.

Hello, everyone.

Welcome to my blog and another wonderful edition of the Hive Learners' featured post. When it comes to loan taking, we all have different opinions. Some don't see taking loans as a big deal, and they rush to take it without considering other options, but for some, a loan is not an option until they have considered other options and none worked. Then will they consider going to take a loan. The truth is sometimes taking loans becomes inevitable; we can take loans for business sake, sometimes for emergencies that need urgent attention, and we do not have the funds at the moment, so we are forced to go for loans and then pay them up later.

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For me, I do not support taking up loans to start up a business because I have seen it go wrong countless times. People take loans to start up businesses, and when they eventually pay back the loans they took, the business crumbles or comes crashing down. Probably after you must have established yourself, you can use a loan to expand; at least that way you have your capital to lean on when you pay your debts. Though paying back loans can push one off balance, which means one must have given it a lot of thought and brace for the impact that paying back will do to them even before going to take it.

Loans are not as bad as we make them sound; the only time a loan becomes an issue is when you rush to take up loans without any roadmap or plans on how you would payback them. Even before you go to take up loans, one must have thought out how they would be able to raise the money to payback to save themselves from embarrassment and disgrace, and if you give it a thought and were not able to come up with a good roadmap on how you would pay up, then it is advised that you avoid taking the loan.

I don't like taking loans as it bothers me way too much. Sometimes when I just wake up and remember I have a debt to pay, it spoils my whole day, but like I said earlier, sometimes loan taking becomes inevitable and you just have to do it whether you like it or not. One thing I have noticed with Nigerian universities is how they tax students; they demand for money, like they gave you some money to keep and expect that once they ask, you will take from the reserve they gave you and then pay up. Nigerian universities don't care; all these types of taxation can ruin a student's mental health, especially one who is not financially buoyant enough to clear the bills, and those who need to be told on time so they can look for a way to raise the money.

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One time my school forced me to take up a loan. I woke up on a Sunday morning to my course representative's broadcast message saying we will have a practical by 9a.m on Monday. The practical manual and lab coat should be around 10,000 naira and the practical fee around 2,000 naira, and a must-buy textbook for the same lecturer was 5,000 naira, a total of about 17,000 naira, you cannot do one and leave the other. All I had was 10,000 naira, and I had to start looking for a way to raise what was left. I explored other options but none worked out, and I just had to take a loan from a friend. Within the week I was able to pay back since I hate to owe and it disturbs my peace.