There is good debt and bad debt. We all know credit card debt is one of the worst but a debt even worse than credit card debt is student loan debt.

Not all debt is bad debt. In fact, there is some good debt. Good debt is debt in the form of things like a mortgage because it will help build equity through homeownership. You can also deduct a portion of the interest if you itemize deductions on your federal taxes.

Bad debt is debt like credit card debt where there is nothing you gain from being in debt. It can’t be deducted and you don’t earn any equity, you just owe money. A debt even worse than credit card debt is student loan debt.

Student loan debt is nondeductible which is the first reason why it’s bad credit, but what makes it worse? Student loan follows you, even in bankruptcy in most cases, you can’t get rid of it. Even if stay on track with your payments it can stick with you for decades, even when you’re receiving social security.

Perhaps the biggest downside is that nothing may come of your student loans. If you have credit card debt you got something. Whether you used it to make a large purchase you thought you could pay off later or several small purchases, you received something. The idea behind attending higher education is that it will set you up for a career after you graduate. Unfortunately, these days that isn’t always the case. Statistically, it doesn’t matter how much you owe either, “The majority of people struggling to pay back their college loans have relatively small amounts of debt; half owe less than $16,400.” Said Robert Hiltonsmith author of a new Demos report, “This belies the common media portrayal of struggling borrowers as carrying excessive amounts of debt beyond the average, and brings into question whether a higher education system financed primarily by debt is putting undue risk on students trying to build skills and climb the economic ladder,” he went on to say, “There is no ‘safe’ amount of student debt.”