Americans are in debt. There is no avoiding that in the news these days. We spend money we don’t have on everything from groceries and medical expenses, to our cars, homes, and education.
That last one has been a particular point of emphasis in the last few years, as politicians and policy experts across the country lament that student loan debt has grown to $1.4 Trillion and threatens to grow higher unless we do something about it.
No debt is good debt, but money spent on education is not the same as money spent on something like a car. Rod Griffin, writing for Wise Bread, reminds us that money spent on education for many people has the effect of increasing their value to employers and greater wealth over time.