this post was submitted on 08 Jun 2023
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Politics
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What's everyone opinion about taking away the interest as long as someone pays monthly? I believe it could be a good compromise and give a opportunity to pay at least something instead of income Dirven payments which do nothing beside keep stacking the interest.. =\
I mean they would have gotten a lot less push-back on the other side if they had done that.
dont get me wrong, i think forgiveness is great.
But the interest rate alone is just crazy. Your guaranteed to just stay in debt forever. Especially since they wanted at least Bachlor degrees (pre-pandemic anyway) for EVERYTHING. looking on indeed they wanted college degrees for jobs paying $12/hr. Like cmon.... How is someone supposed to pay back a loan of $20k + back at 6.5% interest making such small amounts of money. thats not counting trying to find a place to live on that pay.
They wonder why so many more teens and people in their 20s were living at home still. Too expensive to leave.
Talking about living at home .. I'm finally at 32 moving out.. and moving in with a roommate.. rent here is bad.
Congrats! and Good Luck! I got lucky and Am a few years older then you, so i was able to get it done before everything got so crazy. My area is also isnt too expensive. When i moved out it was with 3 other friends in a rented house. took many years but finally became a homeowner.
Im sure things will calm down someday.
If I didn't have Teacher Loan Forgiveness, I would still be paying off my loans 10 years later. Although I probably wouldn't have gone into teaching in the first place…
My girlfriend is in the same boat. 2 masters degrees. Been teaching for awhile. Now getting in to Admin. She's counting the years till it's forgiven. The sheer amount is insane for a profession that doesn't make alot of money to start
I mean it's less bad than charging interest but much more than that is necessary and beneficial.
true, I do agree it wouldn't be as beneficial .. but I already assumed from the start it "wouldn't" work out. upsetting to many greedy people in power.