Upward mobility is not really associated with Going into Debt

In fact, it's quite the opposite. Going into debt with for example, student loans might cause bankruptcy and prevent Upward mobility in itself. So, this is something to think about too.

When I was young my strategy was to go to a community college for 2 years and then transfer up at a junior level to a 4 year college in order to get a bachelors degree. This was an is the least expensive way to get a 4 year degree of either a BA or a BS (Bachelor of Arts or Bachelor of Science). Some people don't like this because it might keep them from spending a year abroad (out of the country) in the Junior Year in college but I hear this isn't usually the case now even though it was when I was coming up in the 1960s and 1970s.

So, I guess what I'm saying here is the less student loans you incur the more likely you will have upward mobility. Also, the major you choose also has something to do with upward mobility as well.

For example, if your bachelor degree is in advanced basket weaving you might not have upward mobility unless you own a basket weaving factory in another country besides this one that employs uneducated 3rd world people there.

There are other factors in allowing yourself to be upwardly mobile too. For example, in my era it was a part of the "Back to the land" movement to go out into the country and buy land that was beautiful but wasn't that expensive and build your own home on it for yourself and your family. This way you didn't have to have a mortgage ever because you did everything pay as you go so you never were really paying rent on this land or house just taxes and the price of the land and the materials you built the house with which often saves 75% or more the price of your land and house which often means you never have to have a mortgage or mortgage payments ever unless you decide to borrow money against what you have paid for and built a some point in time.

Living Rent Free is a really big deal which might allow you to start a business on this land and run that part of the year and travel 6 months a year too if that is your wish. It all depends upon what kind of lifestyle you wish to live.

For example, I have a friend who did this in 1976 and has never paid a mortgage or Car payments ever in his life because he paid everything as he went. Think about how much money you can save and how amazing your life can be if you never have to pay rent or mortgage payments ever again or car payments ever again? Yes. It's a lot of work at first to live this way but eventually if you pick your property actually where you want to live the rest of your life you are home free. Literally.