I think that the phobia of debt that we are institutionalized with is irrational. Most rich people have debt. Most rich people are rich because they acquired some debt at some point in their lives. Mismanaging debt (defaulting on payments, paying the minimum, acquiring the wrong kind of debt, etc.) is where most people really screw themselves.

The fact is, student loans are cheap money. If they approve the new, lower interest rates for loans, you can potentially make money by taking out a student loan and putting it into a high-rate savings account. It’s not a lot of money, but it’s worth mentioning here.

Also, I’ve found a lot of people miss out on some great experiences–travel, study abroad, etc.–due to fear of debt. You’re only young once. You can always pay off a loan, but you can’t buy back your youth.

Thanks for your kind words!

Sorry about the hassle. There are some serious spam problems, that’s why we have the registration. I’ll look into other ways of dealing with this.

Great blog you’ve got too. I’ll be adding it to my blogroll and feedreader!

Chris
http://collegefordummies.blogspot.com