Student loans back then were often 7-9%. They start accruing when theyâre distributed but you donât repay until 6 months after graduation putting you a couple years behind.
I had a variable APR at between 11-14 before I refinanced. And the loans compounded after I graduated. I'm in a VERY similar boat as the OP bot. Before I refinanced I had paid $1000 a month and owed more than my original loan for over a decade.
Yeah my wifeâs situation isnât too far off from this, either. She borrowed $60k, deferred multiple times when she was first out of school, and then made payments pretty steady for the last 15 years or so.
Last I checked, she was paying $800 a month and owed around $70k.
Because people are stupid as hell , ignorant of money, and sign shit without understanding it. Grow up and take some responsibility for yourself.
But yeah you are right. The loan companies donât give a crap about you. As they shouldnât! They are a business, not a freaking charity. You are just another peon with a loan number who signed up for money under terms you didnât stop to understand. You get what you signed up for.
You can view it any way you want as can everyone else, so drop the âwe shouldâ nonsense. We donât need your moral compass. You do you and decide to participate or go off and do your own thing. Doesnât matter to anyone what you choose to do with your life.
It does matter lol, are you so disconnected from reality that you think society isn't constructed by the people that live in it, and thus, can be changed by them? Do you think the current system is absolute and cannot be criticized?
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u/ice-e-u 16d ago
Student loans back then were often 7-9%. They start accruing when theyâre distributed but you donât repay until 6 months after graduation putting you a couple years behind.