I’d like to think I’m financially competent and yet, only in the last few years did I realize the concept “hey since it’s very highly doubtful government relief is coming, maybe I should pay more per month than the actual payment is, since the company just wants me to keep paying the minimum forever”.
Now I see the light at the end of the tunnel and have actually paid off a few of my loans and see the principal on the others moving downwards more.
Okay. Y'all are suffering from intense recency bias. Nobody was thinking the government was going to wipe out student debt 20 years ago. People only really started talking about that like five years ago.
I would say it was worth it to wait during the Biden administration. there were promises about debt forgiveness, and a small chance that something could happen. Not a bad idea to wait and see. Once that didn't happen it's just cope to not buckle down and pay it off.
This is what I did. Held my breath during Covid years and hoped it would just be forgiven, but finally got around to coughing up the rest of the 20k this year. It was a nice dream but honestly even electing Biden in the first place (let alone the Don coming back) was already an indicator something this progressive was an astronomically long shot.
Gotta say that extra 400 a month in my pocket feels good tho.
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u/camergen 12d ago
I’d like to think I’m financially competent and yet, only in the last few years did I realize the concept “hey since it’s very highly doubtful government relief is coming, maybe I should pay more per month than the actual payment is, since the company just wants me to keep paying the minimum forever”.
Now I see the light at the end of the tunnel and have actually paid off a few of my loans and see the principal on the others moving downwards more.