How TF did $40k turn into $75k?
Comment on Biden to defy Supreme Court in second attempt at sweeping student loan handout
Bob_Robertson_IX@lemmy.world 7 months agoI borrowed $40k for my education. Over 20 years I repaid $75k. Had the repayment plan Biden tried to do in 2021 not been shot down by the Supreme Court, I would have had $20k knocked off my balance, which means I would have still repaid a lot more than I had borrowed.
Why should the government be making money by charging interest on student loans? Plumbers wouldn’t have paid for the repayment, instead it would have been my interest payments paying for it. And the plumber would still be getting an extra $15k out of me in excessive payments that I’ve had to make.
Anticorp@lemmy.world 7 months ago
wintermute_oregon@lemm.ee 7 months ago
I agree. The government shouldn’t be issuing student loans. Private banks can handle that function and allow people to BK on them.