Student loans and mortgage debt are often considered to be “good debt,” as they are forms of debt you take on in order to purchase something that should increase your net worth. “Bad debt,” on the other hand, includes credit card debt, auto loans, and other consumer debt incurred to make purchases that depreciate in value.
Regardless of the classification, debt needs to be paid off at some point. And if you have a little extra money every month, you may ask yourself: Should I accelerate payments on my mortgage or student loans? And, if so, which should I aim to pay off first?