St. Paul rightly instructs, "Owe no one anything, except to love one another; for the one who loves another has fulfilled the law" (Romans 13:8).
Debt is a great scourge of the modern West. The amount of personal debt carried by individuals and families not only keeps them in a permanent state of poverty, but also, and more importantly, keeps them from discerning and living the will of God in their lives.
Thus, it is vitally important that you not take on debts that you know in foresight will wrap up your entire life in useless toil. For it is not worth your eternal soul to spend your time working to appear better or richer or prettier than everyone else. Matthew explains this in 19:27-30:
"Then Peter said in reply, ‘Look, we have left everything and followed you. What then will we have?’ Jesus said to them, ‘Truly I tell you, at the renewal of all things, when the Son of Man is seated on the throne of his glory, you who have followed me will also sit on twelve thrones, judging the twelve tribes of Israel. And everyone who has left houses or brothers or sisters or father or mother or children or fields, for my name’s sake, will receive a hundredfold,* and will inherit eternal life. But many who are first will be last, and the last will be first."
In other words, drop your social ego, pay off debt, and give your life to serving God and God alone. When you shun what takes you from Christ, you will find that life will be freer now and more glorious in the Kingdom.