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 Re: Biden to Cancel $10,000 in Student Loan Debt
#348518
May 19th a 10:52 PM
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| by pdx rick |
| pdx rick |
The most important part of the student loan forgiveness is that 20 years of payments must be made. The rest of the loan is interest to the government. Interest = free money to the government.
The free money to the government is being done away with. I have no problem with that.
The interest on my $29,500k loan was literally $100k. THAT is outrageous.
My parents don't help me. Ergo, the student loan. When one is late teens/early 20s, 9% interest over the course of 20+ years, simply was not on the radar. Now-a-days, loans spell out just how much interested will accumulate and what the final payment will be. Back then, that wasn't done.
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