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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%

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In every reddit thread where you know a topic v v well, it makes you seethe watching all the bad info get upmarseyd. 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

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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.

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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

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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 .

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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

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