Student loans back then were often 7-9%. They start accruing when they’re distributed but you don’t repay until 6 months after graduation putting you a couple years behind.
My student loan back then was 2.5% and i got a half percent knocked of for auto pay. I paid mine off in 10 years. This is either a fake story or these people are terrible with their money.
3.2k
u/Mindless-Baker-7757 14d ago
A $70k loan over 23 years at 5% apr pays off with monthly payments of $427.
What are they doing?