• Fishstick41@beehaw.org
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    1 year ago

    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… =\

    • ApathyMoose@beehaw.org
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      1 year ago

      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.

      • Fishstick41@beehaw.org
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        1 year ago

        Talking about living at home … I’m finally at 32 moving out… and moving in with a roommate… rent here is bad.

        • ApathyMoose@beehaw.org
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          1 year ago

          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.

      • Domiku@beehaw.org
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        1 year ago

        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…

        • ApathyMoose@beehaw.org
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          1 year ago

          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

    • OrangeSlice
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      1 year ago

      I mean it’s less bad than charging interest but much more than that is necessary and beneficial.

      • Fishstick41@beehaw.org
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        1 year ago

        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.