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The comparison between personal-debt-funded education and personal-debt-funded failed startups still makes the latter look like a better deal. I believe educat
by csense 14y ago
The comparison between personal-debt-funded education and personal-debt-funded failed startups still makes the latter look like a better deal.
I believe educational loans in the US can't be discharged by personal bankruptcy.
So if you go into debt personally to fund your startup, all you can lose is everything you have.
OTOH if you borrow money to pay for college, your creditors can take everything you have -- and money you haven't earned yet.
I'd never fund a startup with personal debt. Although with mortgage tax breaks and the interest rate climate the way it is, it is actually kinda tempting...