Comment on It's important to get a good interest rate
Liz@midwest.social 11 months agoYeah great point, the US has a very high emphasis on debt, for horrible reasons.
Comment on It's important to get a good interest rate
Liz@midwest.social 11 months agoYeah great point, the US has a very high emphasis on debt, for horrible reasons.
RGB3x3@lemmy.world 11 months ago
The debt industry makes so much god damned money for the companies involved in it, it’s not even funny.
Between student loans and credit cards, US citizens have a collective $1.73 trillion in debt. And let’s just assume 15% interest on average (probably a low-ball to be honest): that’s $173 billion going to these companies in interest payments.
Shit won’t change here because too many people with too much power are making too much money.