<p>Someone once told me that debt that a person accumulates because of going to undergrad and grad school is called "good debt?" Is that true? What this person meant by that phrase is that creditors would not hold it against you if you have "good debt." If you want to take out a loan for a house, your "good debt" would not be a factor in you not recieving that loan. Is all of this true?</p>
<p>NO</p>
<p>You need to be very careful with any debt!!</p>
<p>Student loans are not bankruptable!!</p>
<p>So if something happens,</p>
<p>you don't get a job,
you get sick,
etc,etc,etc</p>
<p>You can not escape student loan debt!!!</p>
<p>No escape</p>
<p>That point was dramatized last month when the U.S. Supreme Court ruled the government could garnish Social Security payments to pay for old student loans.</p>
<p>James Lockhart, 67, of Seattle was living on $874 a month in disability and eligible for food stamps three years ago, when the government began seizing 15 percent of his check to pay for student loans he'd incurred during the 1980s.</p>
<p>Lockhart, a diabetic who has had double-bypass heart surgery, lives in public housing and is barely getting by, said his attorney, Brian Wolfman, who works with Public Citizen Litigation Group, non-profit consumer advocacy group based in Washington, D.C. </p>
<p>school loans aren't as bad as say credit card debt. that's basically what 'good debt' means.</p>
<p>There is no such thing as "good debt." Sorry.</p>