Debt is a trap, especially student debt, which is enormous, far larger than credit card debt. It's a trap for the rest of your life because the laws are designed so that you can't get out of it. If a business, say, gets in too much debt, it can declare bankruptcy, but individuals can almost never be relieved of student debt through bankruptcy.
It is to the last degree distressing to contemplate the state and establishment of our navy... unless the private emolument of individuals in our navy is made superior to that in privateers, it never can become respectable; it never will become formidable. And without a respectable navy - alas, America!