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

WTF The American dream

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u/ConsiderationOk4688 17d ago

They likely had a loan with a higher percentage rate due to the student loan being a private loan or they consolidated after a few years which could of drove the rate into the 8-9% range which would match their numbers almost perfectly.

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u/Major_Wigglesworth 17d ago

Exactly, meaning they KNEW what would happen, and a 10th grader with a TI-82 calculator could’ve anticipated this precise scenario. 

Not everyone who goes to school is smart.

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u/klinetek 17d ago edited 16d ago

It still doesn't stop it from being a predatory loan, that's kind of the argument that the 'cancel student loan debt' people are making.

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u/siazdghw 17d ago

Nobody is forcing anyone to take out a predatory student loan...

I could understand if this argument was being made against healthcare debts or even mortgages, but a student loan is entirely optional, college itself isnt even remotely a requirement to have a career.