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Although the best option is to not have any debt at all, some debt types are worse than other debts.\u00a0<\/p>
A debt acquired for the purchase of something that grows in value, for example, college education or a home, is usually considered to be better than other types of loans.\u00a0<\/p>
The interest on these debts is also deductible from taxes for the majority of borrowers. Other types of debts like personal loans, car loans, or credit cards generally have much higher interest rates which are also not deductible from taxes.\u00a0<\/p>
Thus, these types of debts are considered as being the least beneficial to borrowers.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t