69% of 2018 college graduates took out student loans to pay for school. The average amount of debt for those graduates is $29,800. As you may already know, millions of former college students are defaulting on the federal student loans. To counter this issue, the U.S. government is taking this matter into their own hands.
Most of us are familiar with the terms “good debt” and “bad debt”, but what do they mean? It may seem counterintuitive to consider any debt “good”. However, the health of your credit score greatly relies on debt and your ability to handle it. To better understand what types of debt you want, you have to know which kinds help you the most.