Law School Student Loans: Is that bad debt or good debt?

The perfect storm of the crashes of the legal sector and the global economy has given debt (along with much of risk taking) a bad reputation. 

That's why respected experts in personal finance such as "Rich Dad Poor Dad" author Robert T. Kiysaki are out there hammering this: There's a difference between bad debt and good debt.  His most recent book "Rich Dad's Guide To Becoming Rich" aggressively presents the reality that builders, whether they are putting together a career or a production plant in the midwest, "invest" in debt.  Of course, it's a risk (what isn't).  But usually it is a carefully calculated one.

Student loan debt from attending law school does not necessarily constitute bad debt.  Take the well-know case of lead writer for Abovethelaw.com Elie Mystal.  His total student loan nut, from both graduating from Harvard undergraduate and Harvard Law School, totals about $150,000.  He didn't cotton to practicing law in BigLaw so he left that high-paying field where one can repay the debt in several years.  Instead he chose journalism. 

For Mystal that risk has paid off.  His presence as a voice of the downtrodden (we know law students, associates, and even now partners are often treated dreadfully) has not only created a brandname for him in the legal sector.  Likely he can leverage that to employment in myriad other media properties.

In itself, students loans don't represent bad debt.  Those first-year associates hired in 2013 at $185,000 at Dallas-based Bickel & Brewer probably don't think so.

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Take the well-know situation of cause author for Abovethelaw Elie Mystal. His complete education loan nut, from both finishing from Stanford undergrad and Stanford Law University, some about.