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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: How we raise our children Date:  3/23/2011  10:56 AM
Author:  MetroChick Number:  301496 of 312722

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.

That's what I liked about the point in Christine Roman's "Smart is the New Rich" book - unfortunately the message that used to be out there was "student loan debt is ALWAYS good debt" -- people didn't analyze their situation and now that student loans can never be charged off in bankruptcy, it's very important to be careful of taking on student loan debt - making sure you want to finish a school program that you start, running numbers on how much debt you'll be taking on in total and what the employment outlook is.
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