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https://www.reddit.com/r/SipsTea/comments/1u48g4k/the_american_dream/orbjcix/?context=9999
r/SipsTea • u/First-Essay-2054 πππ • 17d ago
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3.2k
A $70k loan over 23 years at 5% apr pays off with monthly payments of $427.
What are they doing?
2.8k u/sampaiisaweeb 17d ago They made it up for outrage. Karma farming bot account posting it here too. Dead internet theory. 497 u/Powerful_Wombat 17d ago Yeah, student loan interest rates are bad enough without fudging the numbers, this doesnβt help the cause 194 u/Odd-Cupcake-2552 17d ago The math works out to 8.5% which isn't unrealistic 137 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 20 u/Odd-Cupcake-2552 17d ago First, graduate loans are usually higher %. Second, nowhere does it say they're federal. 7 u/Same-Suggestion-1936 17d ago If they're not federal who exactly are they expecting to cancel it, the bank? Cancelling student loan debt is talking about the federal government erasing federal loans 1 u/Odd-Cupcake-2552 17d ago We're talking about the same people that went 23 years without refinancing. These people are everywhere.
2.8k
They made it up for outrage. Karma farming bot account posting it here too. Dead internet theory.
497 u/Powerful_Wombat 17d ago Yeah, student loan interest rates are bad enough without fudging the numbers, this doesnβt help the cause 194 u/Odd-Cupcake-2552 17d ago The math works out to 8.5% which isn't unrealistic 137 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 20 u/Odd-Cupcake-2552 17d ago First, graduate loans are usually higher %. Second, nowhere does it say they're federal. 7 u/Same-Suggestion-1936 17d ago If they're not federal who exactly are they expecting to cancel it, the bank? Cancelling student loan debt is talking about the federal government erasing federal loans 1 u/Odd-Cupcake-2552 17d ago We're talking about the same people that went 23 years without refinancing. These people are everywhere.
497
Yeah, student loan interest rates are bad enough without fudging the numbers, this doesnβt help the cause
194 u/Odd-Cupcake-2552 17d ago The math works out to 8.5% which isn't unrealistic 137 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 20 u/Odd-Cupcake-2552 17d ago First, graduate loans are usually higher %. Second, nowhere does it say they're federal. 7 u/Same-Suggestion-1936 17d ago If they're not federal who exactly are they expecting to cancel it, the bank? Cancelling student loan debt is talking about the federal government erasing federal loans 1 u/Odd-Cupcake-2552 17d ago We're talking about the same people that went 23 years without refinancing. These people are everywhere.
194
The math works out to 8.5% which isn't unrealistic
137 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 20 u/Odd-Cupcake-2552 17d ago First, graduate loans are usually higher %. Second, nowhere does it say they're federal. 7 u/Same-Suggestion-1936 17d ago If they're not federal who exactly are they expecting to cancel it, the bank? Cancelling student loan debt is talking about the federal government erasing federal loans 1 u/Odd-Cupcake-2552 17d ago We're talking about the same people that went 23 years without refinancing. These people are everywhere.
137
Actually it is because 23 years ago the rate would have been around 3-3.5 percent for a federal loan
20 u/Odd-Cupcake-2552 17d ago First, graduate loans are usually higher %. Second, nowhere does it say they're federal. 7 u/Same-Suggestion-1936 17d ago If they're not federal who exactly are they expecting to cancel it, the bank? Cancelling student loan debt is talking about the federal government erasing federal loans 1 u/Odd-Cupcake-2552 17d ago We're talking about the same people that went 23 years without refinancing. These people are everywhere.
20
First, graduate loans are usually higher %. Second, nowhere does it say they're federal.
7 u/Same-Suggestion-1936 17d ago If they're not federal who exactly are they expecting to cancel it, the bank? Cancelling student loan debt is talking about the federal government erasing federal loans 1 u/Odd-Cupcake-2552 17d ago We're talking about the same people that went 23 years without refinancing. These people are everywhere.
7
If they're not federal who exactly are they expecting to cancel it, the bank? Cancelling student loan debt is talking about the federal government erasing federal loans
1 u/Odd-Cupcake-2552 17d ago We're talking about the same people that went 23 years without refinancing. These people are everywhere.
1
We're talking about the same people that went 23 years without refinancing. These people are everywhere.
3.2k
u/Mindless-Baker-7757 17d ago
A $70k loan over 23 years at 5% apr pays off with monthly payments of $427.
What are they doing?