Borrowed money is generally categorized as “good debt” and “bad debt.”

Bad debt means taking on debt for things that depreciate in valuelike a sound system.

Good debt is debt used for an investment.

Real estate, for example.

Or a college education.

At Two Cents, we cover a lot of posts that include some pretty standard personal finance advice.

However basic this advice may be, not everyone agrees with it.

And that’s okay, because sometimes, traditional advice is worth questioning.

By comparison, full-time high school graduates only earned $28,000.

Nationally, we’ve hit the one trillion dollar mark for student loan debt.

The averagestudent loan debt amountfor class of 2014 grads is $33,000.

There are a couple of reasons why college has become so expensive.

According to the student loan documentaryIvory Tower, higher education funding has decreased over the past couple of decades.

And schools have become more business-minded.

In the film, Rossi illustrates how these schools attract both parents and students.

This is basically the idea that every employer now only wants workers who have college degrees.

Thomas Frank, creator of the websiteCollege Info Geeksays, most definitely.

He tell us:

For me, the answer is a definite yes.

It’s awesome - particularly if you find a way to make it affordable.

Unemployment Rates are Lower for Grads

Plenty of data shows that a degree still pays.

Leef argues that graduates are unemployed and underemployed, but it’s even worse for non-graduates.

In thatsame Pew studyhe mentions, the unemployment rate among Millennials with bachelor’s degrees is 3.8 percent.

For those without college degrees, the unemployment rate is 12.2 percent.

Grads Earn More

The Pew study isn’t the only data that shows college graduates earn more.

An associate’s degree will earn $325,000 more than someone with a high school education.

This isn’t to say the data applies to everyone.

Plenty of people do just fine without a college degree.

But, according to the stats, on average, college degrees are still a worthwhile investment.

Frank continued:

This is why I’m a fan of public, in-state universities.

With lots of students, programs, and funding, there’s plenty of opportunity for a driven student.

Ivory Toweralso brings up community college.

Trade school is another option.

you might enter the workforce a couple of years earlier with trade school.

Trade school is typically less expensive than a traditional college education.

Picking the right degree is also key.

Although, as we’ve pointed out,you shouldn’t base your decisions solely on salary statistics.

Yes, some degrees might earn you more than others, on average.

Frank recommends work-study aid and income from a regular part-time job.

Frank lists a number of these optionshere.

There are always exceptions to the rule.

And with rising student loan costs, more people are starting to question whether that’s the better route.