Debt is often central to financial decision making, and it plays a key role in financial counseling and planning. It also raises important ethical questions for individuals and families, small businesses, and lawmakers. Which forms of debt, and at what levels, are most conducive to financial well-being? Does financial literacy— such as understanding the often complicated terms of debt—contribute to financial success, and is there any correlation with ethical behavior? Which policies would best support individuals and families as they acquire, repay, and sometimes default on debts?

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