100% this. People also fail to realize that you have to repay student loans with AFTER TAX funds. To add insult to injury, they only let you deduct student loan INTERST from your tax return.
That 100k student loan likely will cost 130k+ in earned income to repay it! add on top of that all the interest that will accrue on it. I know some people that only pay the interest because the student loan balance is huge.
Debt keeps people working. People working "adds to GDP" and keeps us paying taxes.
100% this. People also fail to realize that you have to repay student loans with AFTER TAX funds. To add insult to injury, they only let you deduct student loan INTERST from your tax return.
That 100k student loan likely will cost 130k+ in earned income to repay it! add on top of that all the interest that will accrue on it. I know some people that only pay the interest because the student loan balance is huge.