No. of Recommendations: 1
I think you have to give the OP a break for the moment though. With his military murkiness, committing to an education right now is kinda difficult.

That said, yes, the other posters are right. There is good debt and bad debt. Consumer debt for things you don't need at high interest rates is bad. Investment debt for investments in yourself or your future (houses, etc) at reasonable, low interest rate is absolutely good debt. Donald Trump, for instance, got rich by using a ton of debt that he knew he could get better returns on than the interest rate. Seriously, if you can get a 3% loan and you can use that money and get 8% interest on it, why wouldn't you (when you take into account risk concerns, I'm not promoting borrowing to invest)? The numbers may not be so easy to run for college, but the concept is the same.

Smirk at your friends for spending their paychecks on junk within a day or two. But do not smirk at them for getting an education, debt and all. Whether they know it or not, it is probably the only wise financial moves they are making right now.
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