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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: How we raise our children Date:  3/23/2011  3:52 AM
Author:  vkg Number:  301493 of 312716

Flame away, but as a college dropout/entrepreneur, I tend to disagree with the "student loans=good debt" paradigm. Maybe sometimes, but I have seen plenty of situations where it is very bad debt, indeed.

What is large/excessive college debt does depend on income and the persons goals. A relative has some college debt. After finishing college it was at about 30-40% of her initial annual income. It will be paid off soon. It wasn't trivial, but not outrageous.

A co-worker has a child in an expensive college. The co-worker is covering miscellenous expenses, but tuition is completely financed by loans. I don't know how it will ever be possible to pay off the loans.
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