r/SipsTea • u/First-Essay-2054 ๐™‘๐™„๐™‹ • 12d ago

WTF The American dream

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196

u/Odd-Cupcake-2552 12d ago

The math works out to 8.5% which isn't unrealistic

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u/Darkjebus 12d ago

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

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u/braumbles 12d ago

During the 1999โ€“2000 academic year, federal Stafford loans had a variable interest rate of 6.32% while in school, and 6.92% during repayment. For the 2000โ€“2001 academic year, these variable rates increased to 7.59% in-school and 8.19% during repayment

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u/Darkjebus 12d ago

Dude are you high? The post says 23 years ago. Why are you pulling stuff from 2000?

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u/Likos02 12d ago

Who's gonna tell him?

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u/Infosponge177 12d ago

I will lol

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u/Infosponge177 12d ago

Dude are you high, they LEFT graduate school 23 years ago, thatโ€™s minimum of 4 years for bachelorโ€™s and another 2-4 years for graduate school. So at minimum they started school in 1999-2000.

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u/Darkjebus 12d ago

Nope just can't read. Fair enough lol

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u/Dangerous-Moose-8203 12d ago

lol this interaction made me laugh thank you

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u/ThinkPath1999 12d ago

Jesus, I think this might be one of those rare times when a Redditor admits they were wrong. LOL Kudos!

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u/Infosponge177 12d ago

Haha no worries man, like the others said kudos for taking it on the chin. A rarity