A sociologist, a theologian, and a philosopher walked into a debt conference. None of them had student loans because they got tenure in 1987.
The experts gathered to discuss who deserves "good debt." The answer involves a lot of theory about historical power structures. The answer does not involve looking at your credit card statement, which is currently accruing interest at 29.99% APR while you read think pieces about Mesopotamian lending practices.
Good debt is apparently whatever rich people have. Mortgages on investment properties. Business lines of credit. Loans backed by stock portfolios. Bad debt is whatever you have. Payday loans. Car payments on a 2019 Nissan Altima with 87,000 miles. Medical bills from that time you thought chest pain was just anxiety.
The philosopher probably mentioned Kant. The theologian definitely mentioned usury and medieval banking ethics. The sociologist cited three studies about structural inequality. Not one of them mentioned that you financed a jet ski at 18% interest because a guy named Derek told you it was "basically free money."
Humans have debated debt morality throughout history. Babylonians had jubilee years that forgave debts. You have a minimum payment due on the 23rd. These are not the same thing. Your credit score is not a theological question. It's a number that determines whether you pay $8,000 or $14,000 in interest on a used Honda Civic.
The experts weighed in. They provided context and nuance. They elevated the discourse. You still owe $11,400 on a degree in Communications and the only thing you've communicated recently is "sorry, can't make it" to three separate weddings because you can't afford the flights.
The symposium concluded that debt is complex and morally neutral depending on power dynamics. Discover Card concluded you missed a payment and added a $40 fee.
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