This could get messy.
(media.greatawakening.win)
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I could do without interest/usury.
I took out student loans knowing I’d have to pay them back, but daily compounding interest?!? I owe more than double what I took out if you extrapolate the interest out to 20 years of payments. And boomers wonder why their kids aren’t getting houses or giving them grandkids…CRIPPLING DEBT even with good incomes.
You also could have done without the loans. They talk about "big oil" but never about "big education." Not every person needs to go to college. Most are not college material. The trades pay a lot of money without much of the stress of college degree jobs.
There are billions in scholarships and grants that aren't even applied for. It's a failure of high school guidance counselors that they don't advise students better. I had a good one who told me exactly what I needed to do to get into college and to get scholarships to pay for it. Almost all of my college years were paid for. I could never have even qualified for a loan, nor could my parents.
Interest is the time value of money. If someone loans money to you, it isn't working for them in other ways. The interest is compensation for their loss. The real problem now is the extreme of excess of interest charged on loans versus interest paid on savings. Those numbers were a whole lot closer together when I was younger. You might pay 8% on a loan, but get 4% on your savings account. Now it's 18% on up to 25% or more for a loan, but a tenth of a percent on savings.