Comments on: Debt Solutions For Those Looking To Get Out Of Debt

By: Vik Dulat

Vik Dulat — Wed, 31 Dec 2008 07:38:37 +0000

Great list. They are some many bad debts out there. I would like to disagree with you on the student debt as good debt. I know you are trying to justify that by going to school you will make more money but most of the students never pay off their private loans.

Can you explain why you think student debt is a good debt?

By: Carnival of Debt Reduction, Thanksgiving Week Edition | Mighty Bargain Hunter

Mon, 24 Nov 2008 07:43:40 +0000

[...] explains an interesting debt-ranking [...]

By: Studenomist

Studenomist — Sat, 15 Nov 2008 07:56:44 +0000

I know what you are saying, some student loans in given areas are way easier to attain. There is nothing wrong with providing students with financial aid, the issue lies in providing too much funding to the point that it becomes absurd. I have also seen young people spend student loans on purchases like cars and clothing. I appreciate your comments..

By: Maureen

Maureen — Fri, 14 Nov 2008 23:12:24 +0000

My ranking is:

4) Good debt = Student Loan currently (after 3 years) at £20375.

But to counteract I have £10,000 in savings from the earnings of part-time jobs since I was 13, grants and bursaries.

By: Maureen

Maureen — Fri, 14 Nov 2008 23:10:15 +0000

Bad debt is especially important to understand when discussing student loans in England. They are thankfully at an amazingly low rate meaning you can put the surplus in a much higher savings rent and make money from money being loaned to you!

By the way I was disappointed to see there are only a few articles here but then I realised that this hasn’t been running long. I wanted to say I love the lay out. As a student, I know that students can relate to this better and the name studenomics is catchy and memorable. Well done for setting up such an accessible site. I wish you all the best and look forward to posting more comments about various student financial activities in my life.

By: Caleb

Caleb — Thu, 13 Nov 2008 14:28:40 +0000

Yeah, I think that people hear the word ‘debt’, and they automatically cringe. It’s important to understand that not all debt is bad. Some debt is good, like you mentioned. Most people wouldn’t mind taking on a school loan payment, because of the all of the rewards that an education adds to your life. Some debt is required to start a business or to acquire investment properties. A smart investor learns how to accumulate and leverage debt in the right ways. If you were to purchase a property, and your mortgage payment was $1000 a month, but you rented it out for $1250 a month, that debt that you accumulated is generating income. You would be making money with money that wasn’t yours to begin with.
Very good article.

Caleb

By: Ryan Malingus

Ryan Malingus — Thu, 13 Nov 2008 06:27:52 +0000

Thank God I am done school and have no student debt, on the flip side I do have other debt.

1. New automobile- $5,000 left to pay
2. Credit card- $1,0000 left to pay
3. Mortgage- $ do not even want to think about it

By: Steve

Steve — Thu, 13 Nov 2008 06:17:20 +0000

Hey man you finally got your site running, congrats. Hopefully I can open up my real estate investing blog soon. Here is my debt ranking:

1.Student loan (currently at 20g’s even though I am still in school)
2. Credit card (only at 1g but mostly useless stuff)

At least I only have two things to rank, that’s my optimistic thinking.