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jgw (May 26th 2024) |
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Total Likes: 1 |
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 Re: Biden to Cancel $10,000 in Student Loan Debt
#348534
May 21st a 07:01 PM
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| by pdx rick |
| pdx rick |
What money is being given to student loan borrowers? The borrowers are paying back the principle.
Nothing is being given - but something IS being taken-away. That take-away is the 9% interest on 20 years worth of loan principle. It's free money that the Department of Education was to receive from the borrower.
Frankly 9% interest is usury. Then again, Congress had no qualms of charging that rate.
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