OK, so I shouldn't be ranting about how I can't afford stuff I don't need, like a bigger house or new shoes. That's just being bratty. What I do care about is that I can't really plan for the future with the amount of loans I am paying off. Since I have been paying off my loans I have been able to save very little and have put nothing towards my Roth IRA/retirement.
There is an excellent recent article from the Washington Post by Michelle Singletary from September 24, 2006 titled "Lesson for Students: the Best Debt is None," which talks about the myth of "student loan debt is bad debt". She ends her article with this:
I think all the questions, on some level, stem from the belief that student loan debt is good debt. It's not. Debt is bad, even when necessary. Conventional wisdom should follow this old Chinese proverb, "A good debt is not as good as no debt."
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