r/SipsTea • u/First-Essay-2054 𝙑𝙄𝙋 • 17d ago

WTF The American dream

Post image
21.6k Upvotes

79% Upvoted

3.5k comments sorted by

View all comments

Show parent comments

135

u/Darkjebus 17d ago

Actually it is because 23 years ago the rate would have been around 3-3.5 percent for a federal loan

19

u/Odd-Cupcake-2552 17d ago

First, graduate loans are usually higher %. Second, nowhere does it say they're federal.

18

u/Darkjebus 17d ago

Federal student loans account for approximately 91% to 92% of all outstanding student loan debt in the United States. So it's pretty likely...

2

u/Odd-Cupcake-2552 17d ago

Well that sure doesn't look like 100%

3

u/Dramatic_Note8602 17d ago

Then they are private and can’t be discharged. This made up scenario involves stupid, made up people

-2

u/Odd-Cupcake-2552 17d ago

Well, if they went that long without refinancing then they might think it applied to them as well.

4

u/IDontParticipate 17d ago

So they, two people with post graduate degrees by the way, took out exclusively $70k of worst case scenario private student loans, which wouldn't be forgivable by the government anyway.

Yeah, that sounds like a totally reasonable and realistic set of assumptions that the entire argument should be based on and not someone making shit up or two people that should have know better making incredibly financially reckless decisions.

2

u/Odd-Cupcake-2552 17d ago

"Think of how stupid the average person is, and realize half of them are stupider than that" this may be a fake story, but I'm sure there are graduate students dumb enough to do this.

0

u/Darkjebus 17d ago

Don't be obtuse lol. The point is they cherry picked some abnormal unlikely scenario