College: Is It Worth the Debt?
Financial Expert Jean Chatzky: Good Debt vs. Bad Debt
Financial expert Jean Chatzky says there is good debt and bad debt, and educational debt is the good kind. "Good debt is the debt that gets you someplace," she says. "It's the home that you live in as long as you can afford it, it's the car that gets you back and forth to work—not your second or third car—and it's your education."
It's even more important to have an education during a recession, Chatzky says. "If you have that college degree, you're four times less likely to be unemployed," she says.