Student loans are absolutely a burden to bear, so it makes sense that paying them off comes with a deep sense of relief. But is it worth it to pay them off early?

There is good and bad debts, and it’s debatable on if student loan debts can be considered good or bad. In many ways, if the loans ends up leading you to making more money, it can typically be considered good. Since you’ll likely make more money with a college degree than you would without one, student loan debts are often considered “good.”

While a loan is helpful in that it builds your credit score, paying it off slowly can also have the added bonus of eventual debt forgiveness. With certain types of loans, any outstanding balances will be automatically forgiven after 25 years. Unless your loan is eligible, though, it may be worthwhile to pay it off as quickly as you can.

Image via The College Investor.