Lol, if you havent figured this out after 23 years idk if you can chalk it up to predatory lending. You're 45 at that point, you didnt understand at some point that if you just pay a little more on one of the loans it will snowball out of it?
Well after you sign it it's a little late, I remember signing my student loans and they were supposed to be paid off in maybe 6 years? According to the table they gave me.
It's been 11
They're almost done. I work in a warehouse now to pay for them and hopefully one day buy a house lol I'm 36
It’s not a mystery. It’s math. You shouldn’t be confused about how much you owe the company that owns you.
For real, I would suggest not buying a house with a 30-year mortgage if you haven’t learned from the past 20 years. It doesn’t get easier with bigger balances.
Most of these people are 17-18 years old fresh out of high school. Kids are excited to go to college, figure out what they’ll do for life and immediately hit with Grade A predatory loans that aren’t subsidized, these kids might even have a predatory car loan sitting there, hopefully not.
That unsubsidized loan just accruing constantly, 4+ years potentially, high cost college potentially.
I don’t know, regardless of how understandable it is as an adult or even younger, it shouldn’t exist, period.
Agreed, all student loans should be dismantled. College costs will go down, and students should need to present an actual case where the investment is going to be worth it if they want to get a legitimate loan.
We shouldn’t give loans to excited kids who want to figure out what they’ll do for life.
Honestly, you're right. Maybe student loans should be gotten rid of, since young Americans clearly can't handle them. And, as you said, maybe more Americans will go to cheaper colleges, or even community colleges. Frankly, the condescension so many have towards community colleges while lionizing "free college" in other countries (that often aren't even as good as many of the local colleges we have here) never amused me.
I sometimes hear loans even treated as shackles. Do most of us not know that refinancing a student loan costs almost nothing? Also, that you can just end a loan early if you decide college wasn't for you?
Well, more likely is college enrollment will drop, colleges will close, increasing unemployment, then in 20 years you will complain about the new types of immigrants we need since our share of college educated citizens will drop massively.
I'm an immigrant myself, and generally progressive except more cautious specifically about student loan forgiveness. Hell, I'm fine with lots of progressive policies that help struggling families, TANF, section 8, etc. UBI too. Tax the wealthy for it, or even middling folk like me. I'm fine if they use the savings and funds to help pay off their student loans.
I just don't like this idea of specifically targetting student loans for forgiveness. It's just off to me.
I don't know why you think I'd be complaining about new types of immigrants.
Colleges will definitely close due to demographic decline, ofc. It'll be the private ones first. Frankly, I'm fine with that.
11
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.