Are student loans a setback?

Hey everyone, I’m in my 3rd year of uni getting a business degree and needing more financial support as I go into my 4th year.

It is likely I’ll stay in school and pursue further education after this degree which I (should) finish this upcoming year.

I’ve lived with my parents for two of the three years of my education and attended a local college, but this year I moved out and switched to a different school. My entire amount of savings I’ve accumulated since high school have run out in this one single year I had to support myself. It makes me regret moving out, but my local college only offered a two year program and I wanted a full degree. My summer job will obviously not cover an entire year of expenses.

My parents have adamantly suggested student loans, but I guess the word “loan” is freaking me out. My biggest question here is if getting student loans is a major setback to people. What are your experiences with student loans? Is it worth it for me? I feel uneasy knowing I plan to continue my education yet I’m already needing loans to finish this first degree.

Perhaps a few years of work to try get myself in a more favourable financial position again would be good before I start school again? Either way, it seems it’s inevitable I WILL be needing financial support, so I guess I just want to know if student loans are a thing to be taken heavily or if they are truly a good means of support.

Also, my parents are very supportive and I’m very thankful for them. Moving back in with them after this year is definitely an option for me which should be taken into consideration. Could help me to save more money and avoid taking out extensive student loans.