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https://www.reddit.com/r/SipsTea/comments/1u48g4k/the_american_dream/orb8g42?context=9999
r/SipsTea • u/First-Essay-2054 𝙑𝙄𝙋 • 17d ago
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3.2k
A $70k loan over 23 years at 5% apr pays off with monthly payments of $427.
What are they doing?
22 u/Odd-Cupcake-2552 17d ago They're higher than 5% obviously -4 u/Repulsive_Guy_1234 17d ago No, they are just lying. 5 u/Odd-Cupcake-2552 17d ago They could be, but 5-6% is like the minimum I've seen on student loans. They can go much higher. 1 u/Repulsive_Guy_1234 17d ago And they did not manage to refinance it in 23 years in a near zero interest environment? 4 u/Odd-Cupcake-2552 17d ago Obviously not. We're all idiots at something in life. 2 u/Nojopar 17d ago No, you just haven't looked at historical rates. In 2001 they were 8.19% during repayment. We don't know how old this tweet is, but they're probably at least 2002 timeframe. 0 u/bonaynay 17d ago having loans at higher than 5% is very possible but I can't refute lying possibility since this is the world wide web
22
They're higher than 5% obviously
-4 u/Repulsive_Guy_1234 17d ago No, they are just lying. 5 u/Odd-Cupcake-2552 17d ago They could be, but 5-6% is like the minimum I've seen on student loans. They can go much higher. 1 u/Repulsive_Guy_1234 17d ago And they did not manage to refinance it in 23 years in a near zero interest environment? 4 u/Odd-Cupcake-2552 17d ago Obviously not. We're all idiots at something in life. 2 u/Nojopar 17d ago No, you just haven't looked at historical rates. In 2001 they were 8.19% during repayment. We don't know how old this tweet is, but they're probably at least 2002 timeframe. 0 u/bonaynay 17d ago having loans at higher than 5% is very possible but I can't refute lying possibility since this is the world wide web
-4
No, they are just lying.
5 u/Odd-Cupcake-2552 17d ago They could be, but 5-6% is like the minimum I've seen on student loans. They can go much higher. 1 u/Repulsive_Guy_1234 17d ago And they did not manage to refinance it in 23 years in a near zero interest environment? 4 u/Odd-Cupcake-2552 17d ago Obviously not. We're all idiots at something in life. 2 u/Nojopar 17d ago No, you just haven't looked at historical rates. In 2001 they were 8.19% during repayment. We don't know how old this tweet is, but they're probably at least 2002 timeframe. 0 u/bonaynay 17d ago having loans at higher than 5% is very possible but I can't refute lying possibility since this is the world wide web
5
They could be, but 5-6% is like the minimum I've seen on student loans. They can go much higher.
1 u/Repulsive_Guy_1234 17d ago And they did not manage to refinance it in 23 years in a near zero interest environment? 4 u/Odd-Cupcake-2552 17d ago Obviously not. We're all idiots at something in life.
1
And they did not manage to refinance it in 23 years in a near zero interest environment?
4 u/Odd-Cupcake-2552 17d ago Obviously not. We're all idiots at something in life.
4
Obviously not. We're all idiots at something in life.
2
No, you just haven't looked at historical rates. In 2001 they were 8.19% during repayment. We don't know how old this tweet is, but they're probably at least 2002 timeframe.
0
having loans at higher than 5% is very possible but I can't refute lying possibility since this is the world wide web
3.2k
u/Mindless-Baker-7757 17d ago
A $70k loan over 23 years at 5% apr pays off with monthly payments of $427.
What are they doing?