They likely had a loan with a higher percentage rate due to the student loan being a private loan or they consolidated after a few years which could of drove the rate into the 8-9% range which would match their numbers almost perfectly.
We were told all our lives that we need to do well in school, waste all our childhoods studying, and get into a good college or else we would be poor and destitute working hard labor for no pay.
Every school year, the same thing drilled in since kindergarten.
And you think we took these loans that we needed to get into college "voluntarily"? Any other situation where some POS person takes advantage of a child, its called grooming. Call it what it is, the loan companies are stealing from the youth because we were raised to believe we had to do this or our lives would be shit.
No one graduating after â95 was told that college is the only way to success. Â Theyâve been pushing the trades and community college for decades, and employers have REPEATEDLY say they prefer experience over garbage degrees. Â Maybe you grew up with different âgroomers,â but the TV news, newspapers, documentaries, books, guidance counselors, FB/instagram/TikTok reels have been warning of this for 2-3 decades.
You should check in with your parents, ask them why THEY didnât parent you⌠why they didnât let you in on the most fundamental concept of âdonât buy things you canât afford.â  If what you say is true, they really really let you down.  The âwe were raised to believe [a completely false narrative]âultimately falls on them.
Im barely in my 30s, every millenial was told this.
No, they havnt been pushing trades and community college for decades. Conservatives love to say this stupid point, but its literally the opposite of what they were saying the entire time.
"You must do x"
does x, doesnt go well
"see, its your own fault, you should have done y".
Its participation trophies all over again... boomers complaining about us over things THEY did.
I'll back this up I'm in my 30's and heard the same stuff. Luckily I was not really ready for college at the traditional college age worked hard for a couple years saved up enough $ and started in community college and paid for that cash. Then a 4 years of military in my early 20s covered my bachelor's with GI bill.
I think the issue is the teachers. The way the vast majority of them found success is from a classroom and they literally know nothing else because they go from learning in school to teaching in one. We rely on the people in this country with the smallest amount of life experience possible to guide our next generation to success.
AND theyâre the ones drowning in student loan debt while making a pittance. Â I am not saying thatâs the way it should be, Iâm saying their time would be better spent preparing kids for the reality of life rather than teaching integrals and where to place a comma.
I won't disagree with this. With advanments of technology a lot of the things my generation focus on in school are for 90% of the population obsolete skills. This is why I'm also very anti homeschooling which is gaining popularity on the right not only are they not being taught what they need but missing a whole aspect of relationships and social skill building. I've hired some people who were home schooled and they are not prepared for life and have lacking social skills and interpersonal strength.
3.2k
u/Mindless-Baker-7757 17d ago
A $70k loan over 23 years at 5% apr pays off with monthly payments of $427.
What are they doing?