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re: Brandon: Student Loan Pause to end 12/31/22, Payments to be capped at 5% monthly income
Posted on 8/24/22 at 11:30 am to waiting4saturday
Posted on 8/24/22 at 11:30 am to waiting4saturday
quote:I know nothing about student loans but I have heard from people that do have them, it's like a house mortgage that at the start, most of your payment goes towards interest and not the principle. Is that close?
Cap re-payments at 5% of your income but that interest is going to be racking up.
Never had one until now, since I guess I get to pay it off for the deadbeats.
1
Posted on 8/24/22 at 11:38 am to Diamondawg
quote:
I know nothing about student loans but I have heard from people that do have them, it's like a house mortgage that at the start, most of your payment goes towards interest and not the principle. Is that close?
Every media human interest story focuses on people that have six figure debts after decades of paying their minimum balance. Lowering minimum payments just turns college degrees into rent-a-center financing.
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