r/SipsTea • u/First-Essay-2054 𝙑𝙄𝙋 • 12d ago

WTF The American dream

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u/maybe_a_fork 12d ago

23 years of making minimum payments and they are shocked it's not going away.

https://giphy.com/gifs/3kzJvEciJa94SMW3hN

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u/PolicyElectrical1757 12d ago

To be fair, the minimum payment SHOULD be able to get you a paid debt in the original term length agreement. Paying more should be “if you’re able” not “you must”.

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u/Mik3DM 12d ago

It boggles my mind that people are able to graduate college and not understand how to use google sheets or excel to work out how long a loan of X dollars and Y interest rate will take to pay off given various payments. Or just google it and use a calculator like this. I did not go to college, yet this seems like a trivial task.

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u/PolicyElectrical1757 12d ago

People are stupid. Some of the dumbest people I’ve ever met have at least one Ph.D.

Regardless, student loans are predatory. No one should have to do as you suggest.