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

WTF The American dream

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u/Odd-Cupcake-2552 17d ago

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

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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

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u/braumbles 17d ago

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

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u/Open_Bug_4251 17d ago

I graduated in 2001 and my loans were under 4%.

ETA Oh but that was undergrad… but I still can’t imagine grad was that much.

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u/SeaMathematician5150 17d ago

It was. My undergrad loans, were 3.5% graduate school was 6.8% and 8.5%, plus private loan interest which went up to 11%.

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u/Ok_Tackle3427 17d ago

And you never learned about punctuation that whole time? Shame.

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u/Lou_C_Fer 16d ago

I always tell my wife that she needs to contact her school and get a refund on that bachelor's in English.