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ElbertoHokie

Joined: 01/01/2005 Posts: 8170
Likes: 4099


As someone with a student loan bill from graduate school, my only beef


with the system is the interest rates charged on the government loans. Student loans are impossible to bankrupt yourself out of so with the risk of defaulting less, the interest rates should reflect that.

I do acknowledge there's a huge risk of people just not paying because they're making $35k a year and their loan bill is $20k a year. But I feel like that's a separate issue.

During this forebearance time, I've just been pouring money into principle to pay that stuff down. Without the pretty significant interest rates, the payments would be more than manageable. The big underlying effect this is going to have is on things like the housing market(it already has) where people can't afford to buy a house because their student loan debt is their house.

(In response to this post by Tafkam Hokie)

Posted: 04/28/2021 at 10:36AM



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Current Thread:
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