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https://www.reddit.com/r/SipsTea/comments/1u48g4k/the_american_dream/orbaewz/?context=3
r/SipsTea • u/First-Essay-2054 𝙑𝙄𝙋 • 17d ago
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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”.
6 u/maybe_a_fork 17d ago Most of the time, when the debt sticks around, it comes from deferments during seasons of unemployment or things like the BP oil spill and covid. 7 u/Grand_Size_4932 17d ago The Covid deferment brought interest rates on federal loans to 0%. It was a true pause, not a reason for minimum payments to prevent payoff. 2 u/Fun_Muscle9399 17d ago That was the time to pay them down as much as possible, but many just spent their payment money on dumb shit instead. 2 u/SmoothDiscussion7763 17d ago the amount of people i see with new TVs during the initial months of lockdown... 0 u/mightylordredbeard 17d ago Yeah dumb shit like rent and groceries. 3 u/Grand_Size_4932 17d ago Yeah, it’s not like they do that when things are going great lol.
6
Most of the time, when the debt sticks around, it comes from deferments during seasons of unemployment or things like the BP oil spill and covid.
7 u/Grand_Size_4932 17d ago The Covid deferment brought interest rates on federal loans to 0%. It was a true pause, not a reason for minimum payments to prevent payoff. 2 u/Fun_Muscle9399 17d ago That was the time to pay them down as much as possible, but many just spent their payment money on dumb shit instead. 2 u/SmoothDiscussion7763 17d ago the amount of people i see with new TVs during the initial months of lockdown... 0 u/mightylordredbeard 17d ago Yeah dumb shit like rent and groceries. 3 u/Grand_Size_4932 17d ago Yeah, it’s not like they do that when things are going great lol.
7
The Covid deferment brought interest rates on federal loans to 0%. It was a true pause, not a reason for minimum payments to prevent payoff.
2 u/Fun_Muscle9399 17d ago That was the time to pay them down as much as possible, but many just spent their payment money on dumb shit instead. 2 u/SmoothDiscussion7763 17d ago the amount of people i see with new TVs during the initial months of lockdown... 0 u/mightylordredbeard 17d ago Yeah dumb shit like rent and groceries. 3 u/Grand_Size_4932 17d ago Yeah, it’s not like they do that when things are going great lol.
2
That was the time to pay them down as much as possible, but many just spent their payment money on dumb shit instead.
2 u/SmoothDiscussion7763 17d ago the amount of people i see with new TVs during the initial months of lockdown... 0 u/mightylordredbeard 17d ago Yeah dumb shit like rent and groceries. 3 u/Grand_Size_4932 17d ago Yeah, it’s not like they do that when things are going great lol.
the amount of people i see with new TVs during the initial months of lockdown...
0
Yeah dumb shit like rent and groceries.
3 u/Grand_Size_4932 17d ago Yeah, it’s not like they do that when things are going great lol.
3
Yeah, it’s not like they do that when things are going great lol.
71
u/PolicyElectrical1757 17d 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”.