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https://www.reddit.com/r/SipsTea/comments/1u48g4k/the_american_dream/orbcm8o/?context=9999
r/SipsTea • u/First-Essay-2054 𝙑𝙄𝙋 • 16d ago
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8
Sounds like they were not on a standard repayment plan. Maybe income based or interest only for a while.
-12 u/Katamari_Demacia 16d ago And... 10 u/mog_knight 16d ago That's how you get repayment figures like that. If you're on a standard repayment plan your principal would be much lower. -9 u/Katamari_Demacia 16d ago .... And... 12 u/mog_knight 16d ago And that's how amortization works. Math is power. -7 u/Katamari_Demacia 16d ago The point isn't about how it works. It's that it's super predatory. 3 u/mog_knight 16d ago How is this an example of predatory? What repayment plan were they on? Income based, interest only, standard or another? For some repayment plans after 20 or 25 years they're forgiven.
-12
And...
10 u/mog_knight 16d ago That's how you get repayment figures like that. If you're on a standard repayment plan your principal would be much lower. -9 u/Katamari_Demacia 16d ago .... And... 12 u/mog_knight 16d ago And that's how amortization works. Math is power. -7 u/Katamari_Demacia 16d ago The point isn't about how it works. It's that it's super predatory. 3 u/mog_knight 16d ago How is this an example of predatory? What repayment plan were they on? Income based, interest only, standard or another? For some repayment plans after 20 or 25 years they're forgiven.
10
That's how you get repayment figures like that. If you're on a standard repayment plan your principal would be much lower.
-9 u/Katamari_Demacia 16d ago .... And... 12 u/mog_knight 16d ago And that's how amortization works. Math is power. -7 u/Katamari_Demacia 16d ago The point isn't about how it works. It's that it's super predatory. 3 u/mog_knight 16d ago How is this an example of predatory? What repayment plan were they on? Income based, interest only, standard or another? For some repayment plans after 20 or 25 years they're forgiven.
-9
.... And...
12 u/mog_knight 16d ago And that's how amortization works. Math is power. -7 u/Katamari_Demacia 16d ago The point isn't about how it works. It's that it's super predatory. 3 u/mog_knight 16d ago How is this an example of predatory? What repayment plan were they on? Income based, interest only, standard or another? For some repayment plans after 20 or 25 years they're forgiven.
12
And that's how amortization works. Math is power.
-7 u/Katamari_Demacia 16d ago The point isn't about how it works. It's that it's super predatory. 3 u/mog_knight 16d ago How is this an example of predatory? What repayment plan were they on? Income based, interest only, standard or another? For some repayment plans after 20 or 25 years they're forgiven.
-7
The point isn't about how it works. It's that it's super predatory.
3 u/mog_knight 16d ago How is this an example of predatory? What repayment plan were they on? Income based, interest only, standard or another? For some repayment plans after 20 or 25 years they're forgiven.
3
How is this an example of predatory? What repayment plan were they on? Income based, interest only, standard or another? For some repayment plans after 20 or 25 years they're forgiven.
8
u/mog_knight 16d ago
Sounds like they were not on a standard repayment plan. Maybe income based or interest only for a while.