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.
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.
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.
I see the poors are pretending to be big wallet niggas again est. 2016
Hello, welcome to 'I see the poors are pretending to be big wallet gangstas again'
This hole exists as a safe space for refugees from the Facebook(MetaTM groups of the same name. Of which there have been several iterations. We mostly exist to poke fun at the state of living in poverty. While it oftentimes is unavoidable, we do aspire to not be meanspirited. Over the years we have co-opted the term 'Peak Poor' to being someone who exudes poverty, regardless of their actual net worth. Trump and Elon both exhibit the peak poor ethos from time to time while still being the top 0.000001%. You can do something peak poor and still be a good person or a generally adjusted one. We all have a bit of poor in us.
We basically fill a niche similar to fatpeoplehate with a bit less actual malice.
PeakPoor is shotgunning mountain dews at 5 years old.
PeakPoor is not people dying of poverty. While technically the greatest heights of poverty is succumbing to it this is not funny, and is a failure
of capitalism. We do not make fun of poverty to be mean spirited such as that.
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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.
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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.
Jump in the discussion.
No email address required.
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