Agreed. You can’t beat into kids’ heads that college is their only chance and then call them stupid for having to take out loans to attend. I know people like to shit on the people that took out major loans for go-nowhere careers like gender studies but what about the majority that did not?
This move by Biden only pisses me off because with as horrible as things are for us financially, we get nothing. I want help too, dammit. I want to be able to breathe a sigh of relief instead of sacrifice food to cover bills, or vice versa.
I am one of those people that took out loans for a degree that applies to my good career, and broadly to many others as well! I’m happy to pay my loans back. The only problem is that, without any borrower consent, the interest was changed to daily compounding instead of APR years ago—meaning I will probably end up paying back THREE TIMES what I borrowed. Now how is that acceptable? I think a rational solution is to slash interest rates and make them APR instead of daily compounding, and hold these colleges accountable for their prices. I was paying $580/credit hour at a public university. Almost $2500/class. Not possible out of pocket unless you want to take 15 years to get a degree.
Agreed. You can’t beat into kids’ heads that college is their only chance and then call them stupid for having to take out loans to attend. I know people like to shit on the people that took out major loans for go-nowhere careers like gender studies but what about the majority that did not?
This move by Biden only pisses me off because with as horrible as things are for us financially, we get nothing. I want help too, dammit. I want to be able to breathe a sigh of relief instead of sacrifice food to cover bills, or vice versa.
I am one of those people that took out loans for a degree that applies to my good career, and broadly to many others as well! I’m happy to pay my loans back. The only problem is that, without any borrower consent, the interest was changed to daily compounding instead of APR years ago—meaning I will probably end up paying back THREE TIMES what I borrowed. Now how is that acceptable? I think a rational solution is to slash interest rates and make them APR instead of daily compounding, and hold these colleges accountable for their prices. I was paying $580/credit hour at a public university. Almost $2500/class. Not possible out of pocket unless you want to take 15 years to get a degree.