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Started By
Message
re: Biden's Back Door Student Loan Forgiveness
Posted on 7/13/23 at 9:59 am to anc
Posted on 7/13/23 at 9:59 am to anc
quote:
No interest if payments are made on time. (Includes $0 payments in scenario above)
I don't really have a problem with this one. The rate on student loans from the government shouldn't be as high as they are.
5
Posted on 7/13/23 at 10:00 am to Indefatigable
quote:
I don't really have a problem with this one. The rate on student loans from the government shouldn't be as high as they are.
Yep. I've always said 1% for responsible borrowers would be fine. I'm okay with 0%.
Posted on 7/13/23 at 10:00 am to Indefatigable
quote:
I don't really have a problem with this one. The rate on student loans from the government shouldn't be as high as they are.
I can't remember what my interest rate was back in the 90s, but I do seem to remember it being extremely low.. maybe around 2-3%?
My last semester at Auburn in '96 was around $2200
Now the cost is over $12000 per semester.
Same product. Same degree. Higher education (well, all education) has gotten ridiculous.
This post was edited on 7/13/23 at 11:14 am
Posted on 7/13/23 at 1:08 pm to Indefatigable
The government as an institution cannot legally charge interest. It's all B.S. Tell the kids you have to pay back the principal and remove all interest. Solved.
Posted on 7/13/23 at 1:17 pm to Indefatigable
quote:
don't really have a problem with this one. The rate on student loans from the government shouldn't be as high as they are
You’re making a strong case for why the federal government should not be in the student loan business. It’s a catastrophe!
Posted on 7/13/23 at 2:27 pm to Indefatigable
quote:Should be a lot higher given the default rate and length of payback period. With rising rates, student loans is some of the cheapest money you can get these days.
The rate on student loans from the government shouldn't be as high as they are.
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