this post was submitted on 08 Jun 2023
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Politics
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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.. =\
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.
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…
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