$400K is now middle class
(media.kotakuinaction2.win)
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Not just interest -- if I take out a loan to start or expand a business and the money I make from that business/investment pays off more than the interest I'm paying, it's good debt.
Taking out a $5000 loan to get a commuting vehicle so that I can get myself to work is arguably good debt.
Taking out $300k worth of loans so I can party for 5 years at college and "earn" a bullshit studies degree is bad debt. Taking out a $35000 loan so that I can buy a brand new car is bad debt. Racking up credit card debt to buy a big TV or the latest iPhone or some other disposable electronics device is bad debt.
I think I've actually been successful with a couple people talking them off student debt. It's just so fucking stupid. The whole "college experience" sold and pushed on everyone is a pile of shit. Want a degree? Fine. I have one. I worked the entire way through and paid as I went at low-end accredited community and state school. It sucked. It was a pain in the ass. I had to fight some professors at times even, because they really don't like people that are abnormal. When I got that first post-college job with the about 50% pay increase, I felt like a rich man because I actually had a fresh start and didn't owe anyone anything.
And even then the low end school doesn't have to suck or be a pain in the ass. Cause the moment you graduate nobody ever gives a fuck about any of it ever again. All they care is that you checked the box.
Or you declare bankruptcy.
Also if you have a heart attack, your life might be over. So I guess you should never take out debt. Thanks for the life advice to never try anything! Also, good job completely ignoring the point about good vs. bad debt and instead just whining. I'm sure that isn't at all a reflection of your life situation. If $5k in debt is enough for your life to be over, you're doing things very, very wrong.
Also, kudos to you for managing to type up so many whinging posts with those hands you've worked bloody.