As unemployment continues to soar, many people have gone back to school or are considering going back to school to further their education. While this can greatly improve their future earning potential, research is indicating that, for the first time in U.S. history, student loan debts are currently estimated to be exceeding $1 trillion in the U.S. and are quickly moving to outpace the debt associated with credit cards and car loans. Additionally, according to the Pew Research Center, approximately 19 percent of households owe money on student-related debts, and on average, the amount of student debt owed is upwards of $25,000. This astounding shift in the changing nature of debt is causing some to question whether student loans are worth it and whether or not student loans are bad debt to have.

Although various financial experts have conflicting opinions regarding whether student debt is “good” or “bad” debt to have, some of the