3313: Why Student Loans are Not “Good” Debt by Jen Hayes on Rethinking Education Loans

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🗓️ 11 October 2025

⏱️ 9 minutes

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3313: Jen Hayes challenges the common belief that student loans are “good debt,” showing how high interest, limited return on investment, and the inability to discharge loans in bankruptcy can create a lifelong financial burden. She urges students to consider alternatives, such as working and saving before pursuing a degree, and to be strategic about choosing affordable education paths with practical majors. Read along with the original article(s) here: https://www.jenhayes.me/student-loans-bad-debt/ Quotes to ponder: "Interest on student loans compounds, this means that the interest itself collects interest." "Student loan debt, unlike most other forms of debt, cannot be eliminated during bankruptcy." "Whatever you decide to do, don’t believe the lie that student loans are 'good' debt." Learn more about your ad choices. Visit megaphone.fm/adchoices

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0:57.0	This is Optimal Finance Daily, why student loans are not good debt by Jen Hayes of
1:03.3	jennhaze. me. When I was 18, I believed that going to college was my only option. I had
1:10.5	naively thought that I would spend the rest of my life flipping burgers if I didn't go to college.
1:15.7	Since my parents earned middle class incomes, they couldn't afford to pay for my education,
1:20.4	but I was too well off to qualify for any assistance other than loans.
1:25.0	I was young and naive, and I believed my parents when they told me that
1:29.4	student loans were good debt. It would be worth it, I thought, because I would make a lot of
1:34.6	money after college. Then came the recession. A few years later, I finished grad school buried in
1:41.0	massive debt with a low-paying job. I no longer agree with the idea that student loans
1:46.3	are good debt. In some ways, student loan debt is actually the worst kind of debt to have.
1:52.6	Number one, the ROI is often minimal. The best argument for student loans being good debt is the
1:59.5	idea that getting a degree will help you land a higher- higher paying job than you would have if you hadn't gone to college.
2:06.3	The concept is referred to as the return on your investment.
	...

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