This book can save you more than $100,000. These days, most people assume you need to pay a boatload of money for a quality college education. As a result, students and their parents are willing to go into years of debt and potentially sabotage their entire financial futures just to get a fancy name on their diploma. But Zac Bissonnette is walking proof that this assumption is not only false, but dangerous-a class con game designed to rip you off and doom your student to a post-graduation life of near poverty . From his unique double perspective-he's a personal finance expert (at Daily Finance) AND a current senior at the University of Massachusetts-Zac figured out how to get an outstanding education at a public college, without bankrupting his parents or taking on massive loans. Armed with his personal knowledge, the latest data, and smart analysis, Zac takes on the sacred cows of the higher education establishment. He reveals why a lot of the conventional wisdom about choosing and financing college is not only wrong but hazardous to you and your child's financial future. You'll discover, for instance, that: * Student loans are NOT a necessary evil. Ordinary middle class families can- and must-find ways to avoid them, even without scholarships. * College "rankings" are useless-designed to sell magazines and generate hype. If you trust one of the major guides when picking a college, you face a potential financial disaster. * The elite graduate programs accept lots of people with non-elite bachelors degrees. So do America's most selective employers. The name on a diploma ultimately won't help your child have a more successful career or earn more money. Zac can prove every one of those bold assertions - and more. No matter what your current financial situation, he has a simple message for parents: "RELAX! Your kid will be able to get a champagne education on a beer budget!"

"This paper examines the influence of educational debt aversion on the career choice of law school students, including the decision to attend law school and the decision to work in public interest law. To isolate the role of debt aversion, I analyze experimental data from NYU Law School's Innovative Financial Aid Study in which two career-contingent financial aid packages were randomly assigned to participating admits. Because the packages had equivalent monetary value and differed only in the duration of indebtedness, differences in career choices associated with financial aid assignment can be attributed to psychological debt aversion. The results indicate that debt aversion matters: In classes for which the lottery was announced prior to enrollment, participants randomly assigned to the low-debt package are nearly twice as likely to enroll. In classes without selective matriculation, lottery winners have a 36-45% higher rate of first job placement in public interest law. Both results are consistent with a simple model of debt aversion in which psychic costs of holding debt during and after school generate differences in the discounted lifetime utility of the financial aid packages and, hence, in the value of attending law school and of working in public interest law"--National Bureau of Economic Research web site.

"Debt is like a double-edged sword, it can either cut you down or lift you up depending on how you wield it." Good vs Bad Debt: Navigating the Debt Spectrum is a comprehensive guide to understanding debt and its impact on personal finances. In this book, readers will learn about the difference between good and bad debt, debt management strategies, and how to cultivate good financial habits. The book begins with an overview of debt, its definition, and the role it plays in the economy. Readers will also learn about the concept of good debt and how it can be used to invest in education, real estate, and businesses. The book also covers bad debt, including credit card debt, payday loans, and unplanned personal loans. In addition to discussing the different types of debt, Good vs Bad Debt also explores the psychology of debt, including the emotional impact and social perceptions of debt. The book provides strategies to utilize good debt effectively while avoiding bad debt and its pitfalls. Readers will also learn about debt management strategies, including debt consolidation, negotiating with creditors, and bankruptcy. The book emphasizes the importance of cultivating good financial habits, such as budgeting, saving, and investing, to build wealth over time. Good vs Bad Debt also covers the legal aspects of debt, including the Fair Debt Collection Practices Act and debtor rights and obligations. The book also explores the impact of debt on retirement planning and provides strategies for managing debt in retirement. The book includes case studies and real-life scenarios to illustrate the concepts discussed and provide inspiration for successful debt management. Readers will also learn about debt practices in different cultures and countries, and the future of debt, including the rising trend of digital lending and the impact of student loan debt on the economy. Whether you are a young adult just starting to navigate the world of debt or someone looking to improve your debt management skills, Good vs Bad Debt is the perfect guide. With clear explanations, real-world examples, and practical tools and techniques, this book will help you take control of your debt and achieve your financial goals.Table of Contents Understanding Debt: An Overview Debt Defined: A Closer Look The Role of Debt in the Economy The Concept of Good Debt Education Loans: Investing in Your Future Mortgages: The Path to Home Ownership Business Loans: Fuel for Growth The Reality of Bad Debt Credit Card Debt: The High Cost of Convenience Payday Loans: The Debt Trap Unplanned Personal Loans: The Impact on Personal Finances The Psychology of Debt The Emotional Impact of Debt Social Perceptions and Debt Strategies to Utilize Good Debt Leveraging Mortgages for Real Estate Investments Education Loans: Maximizing Return on Investment Using Business Loans to Boost Profits Methods to Avoid Bad Debt Healthy Credit Card Practices Alternatives to Payday Loans Planning and Budgeting to Avoid Unnecessary Personal Loans Dealing with Existing Bad Debt Debt Consolidation: An Effective Tool? Negotiating with Creditors: Tips and Strategies Bankruptcy: The Last Resort Cultivating Good Financial Habits Budgeting: The Foundation of Financial Health Saving and Investing: Building Wealth over Time Financial Literacy: The Key to Debt Management The Role of Financial Institutions Understanding Interest Rates and Loan Terms Debt and Your Credit Score: The Interplay Case Studies: Learning from Real-Life Scenarios Transforming Bad Debt into Good Debt Avoiding the Pitfalls of Bad Debt Successful Debt Management: Inspirational Stories Debunking Myths About Debt Good Debt Isn't Always 'Good' Bad Debt Isn't Always 'Bad' The Myth of 'Free Money' Understanding the Impact of Debt on Your Financial Health Debt-to-Income Ratio: Why It Matters The Role of Debt in Your Credit Score How Debt Can Impact Your Life Goals When Good Debt Turns Bad The Risks of Mortgages and Real Estate Investments Education Loans: The Debt Burden Post Graduation The Downside of Business Loans The Legal Aspects of Debt Understanding the Fair Debt Collection Practices Act Your Rights and Obligations as a Debtor The Legal Consequences of Defaulting on Debt Debt Management Plans: A Way Out of Bad Debt Working with a Credit Counseling Agency The Pros and Cons of Debt Management Plans The Role of Debt in Retirement Planning Managing Mortgage in Retirement The Risk of Carrying Debt into Retirement Good Debt and Bad Debt: A Global Perspective Debt Practices in Different Cultures Lessons from Countries with Low Personal Debt Levels The Future of Debt The Rising Trend of Digital Lending Student Loan Debt: A Looming Crisis? Predicting Future Debt Trends Based on Historical Data Debt Free Living: Is It Possible? The Philosophy of Minimalism and Its Impact on Debt Case Studies of Debt-Free Individuals and Families Strategies to Live a Debt-Free Life Final Thoughts: Navigating the Complex World of Debt Consolidating the Lessons Learnt Planning Your Personal Debt Strategy Staying Informed and Adapting to Changes Have Questions / Comments? Get Another Book Free ISBN: 9781776849611