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interest rates already make college an inherently financially idiotic decision for anyone who can’t pay for school out of pocket. At this point responsible and honest teachers should be telling their students that for most majors if they can’t pay for it out of pocket, don’t go
Interest rates should never have been above zero
'Allowed to take on debt'? If someone gives you a loaded gun, do you put it to your head and pull the trigger? Nobody is forcing them to take on debt.
I guess I've reached the age where I say that kids today have it easy: my postgraduate student loans taken out in 2008 had interest rates of 6.5% and 8.6%. I would have loved to have the new rates listed in this article.
Pay up sucka!!
There should not be any interest on student loans. The schools should bankroll all the loans. They have enough.
Interest on student loans is a concept that only our government could allow.
It's getting beyond unsustainable, with many industries also requiring post graduate degrees. Just allocating 10% of your graduate salary for a basic private college degree would require decades to pay off. Chart obtained from the Federal Reserve report.
Predatory!
Students are sold worthless degrees.
This is the time to implement a student loan payback program by stopping interest accumulation & job placement for debtors in government health & human service or military service to payback the loans. studentloandebt fypシ USA Money jobs debt twitter
Reminder that Australia does not charge interest on student loans. After 20 years of paying on my loan I still have 1/3 principle left... Congress really got paid well by the bankers for this to be allowed and to continue
Predatory scam
Schools should be partially held responsible for saddling kids with so much debt. 25% of all school loans need to be funded by higher education institutions.
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