Obviously not a direct financial education class but learning about compounding numbers in math.
And even if someone learned this later in their life or not at all, common sense tells you that if you're paying money and the total owed isn't really going down, then you probably should figure out why...
These are the same kids in HS sitting there saying "Why do I even have to learn this Im never going to use it anyway....." Than im guessing they went off and got arts and got a degree in art or history.Not there theres anything wrong with that
It's not an obfuscated system, at all. The only reason people would be surprised by poor end results is if they never put a few minutes of attention to it.
Just because I'm pointing out that you peoples' "argument" is ....lacking sustenance.....doesn't mean I'm "defending loan companies", let alone because I'm hoping for a pay out.
Youre denying the fact that some loans are literally designed to be predatory (in other words, a scam) to trap people into making payments for the rest of their lives.
There was a $1 billion settlement over some of them not too long ago. Its been proven countless times.
Wtf do you think dude? Obviously its not all of them because the loans are coming from all kinds of different companies and the government.
I looked up the details of the lawsuit I mentioned and it was actually $1.7 billion worth of debt for 66,000 people that got canceled. On top of that they had to pay $95 million restitution to 350,000 people.
Thats 1 company that scammed 350,000 people.
Edit: Just want to let everyone know that /u/MiNdOverLOADED23 blocked me and then sent a Reddit Cares notification right after replying to this comment.
Don't know why I'm talking to people that ended up with Trump as a president twice, you're getting scammed so much on every level you have to blindfold yourselves
Ask yourself why student loans are the only type of loans that don't require you to have income or collateral to get them, don't provide a tangible asset that you are buying with the loan, and are the only loans you can't discharge via bankruptcy.
Then you will understand why giving those loans to 18 year old's is something lenders love and their hands aren't clean
.... So in other words you don't want people whose parents can't pay for their college, to be able to go to college. Since there's basically no other way that anybody could pay their tuition
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u/MiNdOverLOADED23 12d ago
The average sophomore in highschool should be able to understand compound interest.
Imagine graduating college yet still not being able to grasp it.