Jump in the discussion.

No email address required.

>take out an astronomical amount of debt at a high interest

>23 years ago

>$70k in 2000 = $127k in 2023

>get expensive graduate degrees, likely from private schools with private loans

>This is capitalism's fault!

Frick these people

Jump in the discussion.

No email address required.

Never seen a better argument for capitalism other than the fact that it punishes r-slurs/leftoids for stupid shit like this.

Jump in the discussion.

No email address required.

If you sort by controversial, you'll see people unironically argue that Joe the plumber and José the electrician should pay for xheir degree in game design

Jump in the discussion.

No email address required.

Now that I have a degree I'm working at a job making $16-$18/hr before taxes in a HCOL.

WHAT. I was making significantly more than that in 2006 with a BS in a lower cost of living area.

https://i.rdrama.net/images/17065458877585623.webp

Jump in the discussion.

No email address required.

10-12k a year sounds reasonable if we are talking zero in tuition. Sounds like he should have been working part time- he took the entire room and board in loans so 22k sounds fair. He would have had to take that in loans living in any apartment and buying his own groceries if he refused to do anythkng for income

Jump in the discussion.

No email address required.

$18/hr is $36,000 annual, and even just looking at hourly is an entry level Target cashier

Jump in the discussion.

No email address required.

I'm an r-slur so therefore capitalism has failed and the tax payer should be forced to pay off my debts.

Jump in the discussion.

No email address required.

Does student debt work like an actual debt in America?

Where I am in the UK we still have student debt but it doesn't work like a conventional debt - you only start paying it back after you start earning over a certain threshold, and it's a relatively small proportion of your pay. It also automatically gets cancelled after 30 years. Basically works like a small extra tax.

No. Ours is conventional debt and then some. It's just like any other loan, but with an ultra-high interest rate to "offset the risk" of lending to a student. This is why the above scenario is possible. Even though they are paying, the vast majority of those payments are going to the interest and not the principal. At most, some have a clause that you only start paying after schooling is finish but that's about it. There's no cancellation on those loans either unless it's a very rare and special situation. You normally need the assistance of a financial lawyer to do that.

What is this dude talking about? Federal student loans for undergrad are like a fixed 6% with options for subsidized loans where they don't even occur interest while in school and for grad school its a fixed 7%

Jump in the discussion.

No email address required.

In every reddit thread where you know a topic v v well, it makes you seethe watching all the bad info get upvoted. If you dare go against the hivemind and say they are wrong, you get banned or DV'd into oblivion. This is one of those cases for me because I got private and actual federal loans and these people are full of shit. My first federal loan had such a low interest rate that I paid it off in college with $100/month payments.


Krayon sexually assaulted his sister. https://i.rdrama.net/images/17118241526738973.webp https://i.rdrama.net/images/17118241426254768.webp https://i.rdrama.net/images/17156480765435808.webp

Jump in the discussion.

No email address required.

Im taking out federal student loans rn for my masters which is why i know the exact interest rate lol. I did a lot of research on loans before taking them out. The belly aching over student loans pisses me off even more because people got student loan forgiveness in the form of two years of zero interest during the pandemic like darn I wish I got that, but no these dipshits likely just didn't pay anything because their minimum monthly payment was 0 and are now bitching their payment plan was delayed.

Jump in the discussion.

No email address required.

Yep, I hear ya. My school made me sit with an advisor before taking out a private loan, and they said they are higher interest and less forgiving. Also, they suggested paying the interest while in school to help lower the bill when I went back into the workforce.


Krayon sexually assaulted his sister. https://i.rdrama.net/images/17118241526738973.webp https://i.rdrama.net/images/17118241426254768.webp https://i.rdrama.net/images/17156480765435808.webp

Jump in the discussion.

No email address required.

I didnt frick at all with private i just cover the difference myself and some money from my parents. I haven't paid off any yet while in school because i plan on cash flowing one semester and my loan provider is weird and you cajt pay off for the first 120 days after the loan its some weird system i don't understand .

Jump in the discussion.

No email address required.

Good for you, really. Private loans suck butt. I can't hate because it gave me the time to figure out how to make money on my own while in school, so I see it as an investment. Interest on them is insane.


Krayon sexually assaulted his sister. https://i.rdrama.net/images/17118241526738973.webp https://i.rdrama.net/images/17118241426254768.webp https://i.rdrama.net/images/17156480765435808.webp

Jump in the discussion.

No email address required.

Private loans. Student loans have a low interest rate, but private loans are high interest. Also, if you make too much you can't get subsidized loans so you have to pay full interest.


Krayon sexually assaulted his sister. https://i.rdrama.net/images/17118241526738973.webp https://i.rdrama.net/images/17118241426254768.webp https://i.rdrama.net/images/17156480765435808.webp

Jump in the discussion.

No email address required.

This is a case of a government payment program screwing someone because they let them pay an amount lower than they should. Student loans are 10 years, so $500 a month would never pay off a $70,000 loan in that timeframe regardless of interest rate. It should have been closer to $750. The fact they still owe $60,000 would mean they deferred at some point though.

Jump in the discussion.

No email address required.

I don't know about other schools but I had to take counseling before getting the private loan. They even warn you about the interest and suggest paying the interest while you're in school.

My payments were $120/month for my private loan, so I thought it was so manageable and not a big deal but then I realized some months I didn't even hit the principle so started paying what I could. I didn't have a lot of money when I first graduated but always tried to pay at least $200 to get some principle.

Like you said, this dude is probably paying the minimum and isn't looking at his statements to see that he's not hitting the principle much.


Krayon sexually assaulted his sister. https://i.rdrama.net/images/17118241526738973.webp https://i.rdrama.net/images/17118241426254768.webp https://i.rdrama.net/images/17156480765435808.webp

Jump in the discussion.

No email address required.

:#marseybaited:

Jump in the discussion.

No email address required.

no

Jump in the discussion.

No email address required.

Link copied to clipboard
Action successful!
Error, please refresh the page and try again.