Now suppose you have ambitions to further your career and realize that earning a degree can assist you in climbing the corporate ladder. The only problem is...you do not have the necessary funds to pay tuition along with your other obligations. A trusted friend tells you about a student loan that you could apply for to assist with your educational expenses. Explainthe differences between the two types of expenditures in "Scenario 1" and "Scenario 2."

1. Describe the possible long-term implications of the two decisions? (In other words, how can each decisionimpact your future standard of living?)