Most people don’t pay their college tuition with an upfront cash payment. The same is typically true for those who buy a car or a home. Instead, they borrow the money to make these large purchases and repay it over time.
If you can learn to manage your debt and not borrow more than you can afford to repay, a loan can provide financial flexibility in your life. This is true whether talking about instances of borrowing big, such as the previously mentioned examples, or when discussing smaller online installment loans taken out to cover things like car repairs and home improvement projects.