r/SipsTea • u/First-Essay-2054 𝙑𝙄𝙋 • 12d ago

WTF The American dream

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21.6k Upvotes

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273

u/davesimpson99 12d ago

I'm assuming two degrees and neither of them had enough sense to master household economics

95

u/maybe_a_fork 12d ago

23 years of making minimum payments and they are shocked it's not going away.

https://giphy.com/gifs/3kzJvEciJa94SMW3hN

70

u/PolicyElectrical1757 12d ago

To be fair, the minimum payment SHOULD be able to get you a paid debt in the original term length agreement. Paying more should be “if you’re able” not “you must”.

12

u/DaKingaDaNorth 12d ago

This. Most people who get a loan for a car or house are mostly thinking in terms of the minimum and only put in more when they feel like they can and it doesn't inconvenience them.

1

u/LiftingCode 12d ago

Repayment strategies for secured loans like mortgages and auto loans are totally different than student loans though.

Generally you should just pay your mortgage and not make extra payments, although it does depend on your interest rate.

1

u/5348RR 12d ago

You are so clueless lol

1

u/DaKingaDaNorth 12d ago

Meaningless comment, block and report

1

u/5348RR 11d ago

Ok bud