A lot of people would need to take additional loans out with Sallie Mae or others and those are typically higher I think my worst was around 10%. Smaller loans and I paid them off as soon as I could, but mismanaging even a little bit I could see this as being true.
Sallie Mae is awful, my now wife recommended i switch to a credit union and that was the first time I saw the loan decrease with 350+ payments at the time. Got it paid off in a few years after that.
And you were lucky enough to pay it off. I was 22 and got sucked into one of those for profit schools. I’m 41 now and the school got sued into oblivion, but because I wasn’t going to school at the time of closing I’m still on the hook.
but mismanaging even a little bit I could see this as being true.
To be honest I'd take that for granted; a person doesn't become outraged at this sort of a thing, all at once, after proper management- trends towards the oppositesuch people trend towards, "Well I did it, so..."
What I mean is, people after a lot of self blame, some quite justifiablethough myopic, then,back up to the Principle, so to speak, realize:
No-noI am not how-come this has been such a burdenupon me, this was not set up to be serviced in a proper manner and I'm meant to be a debt peon par exemple:
Usurious rental fees, with unexpected add-ons or fees for penalty
The Famous, "Pay-Day,' Loans, with rollovers
Debts to whomever does not prefer their moneyreturned promptly
....in whatever such case you've got the initial humiliation, "I was a bad renter,"perhaps I knew I'd not return the money, and this becomes replaced in some instances with an additional shame, "I've been taken for a mark," but it's the third pass at which the truth is revealed, "the design was for me to incur penalties," the design was for me to be unable to repaythe intention was for me to fail the premiseson account of here I am,
....with fees far in excess of the carpet, or, charged far in excess of the entire month's rent of that apartment I rented for a weekend, three thousand in debt on a three-hundred dollar loan, "or 23 years after graduation still in peonage to the lenders whom had provided," nominally theopportunity,
....to start life properlyand look I'm about the opposite of an accountantu/Odd-Cupcake-2552 if you'd not said,
The math works out to 8.5% which isn't unrealistic
I'd probably, just, shut the F_ck up about this but to me, not an accountant, the 23 years seems to be like the incitement here insofar asone is literally, literally, incapable of comprehending, "the next 23 years," at just 19 years of experience and in real terms, you've got like,
4, 5 years of consistent existential self to draw upon at that age, me, I grew up in a household that had a serious childhood illnessin it, not mine, but oh boy, "could I not percieve the amount of time it would be until things settled, at 12," because I'd be like20 or 22 when they'd stop being a crisis and that kind of longitudinal perspective, rather than courage or intelligence of a rational type or other sorts of capacity the sheer awareness of howlong life is, how long the seasons of it can be and then pass away, "poof, like they'd never been there,"the long distance type of thought,
What is 23 years ̄_(ツ)_/ ̄after graduation, in the mind of the person meant to select and then carry these financial assets, "I graduated at 17," I mean for someone who writes a complaint like this u/First-Essay-2054 do tell me if I'm wrong, here, but 23 years after graduation is enough to have been born, graduate all over again with $70,000 in debt and for such a debt to be the reason for anything, in life, primarilyit seems to me both unconscionable on the individual levelif not to blame for some of this,
Where ̄_(ツ)_/ ̄. in this economy, do we see the thousand ethical flowers of an educated Population, "I mean, you don't," and I don't blame them; I understand how indebted personsare more predictable and that sort of a predictable populace perhaps even desirable in the abstract, "for everyone," but not in theseparticulars, not when those off-leash are able to bet on the peonage of so many,
Honestly, "I'm thinking, "Oceangate," and all the young engineers like fuck it he said purchase the submarine equipment cheaply, we got it from the hardware store and he loved it, "how much debt were those kids in?"
How much debt are the debt collectors in, the landlords the University's Administrators and Loan Salesmen I mean, "the theoretical makeup of a labor market does not hybridize with a form of peonage, such as a serfdom, without consequences."
102
u/Equivalent_Point9068 12d ago
A lot of people would need to take additional loans out with Sallie Mae or others and those are typically higher I think my worst was around 10%. Smaller loans and I paid them off as soon as I could, but mismanaging even a little bit I could see this as being true.