They COULD just not forgive the principle at all and lower the damn interest rate. I took out $110k for grad school and it had doubled by the time I graduated 4 years later at 6.8% interest. I'm thrilled to pay the $110k. The other $100k in interest?? Robbery. A house loan is half that percentage. Why are we punishing graduate students?
I haven’t seen anything except a blanket “this dollar amount” forgiven as ideas presented. But I don’t think that sees the grey areas of the issue. Someone who took out $20k 15 years ago and had already paid $25k but still owes $15k? Dear god just let them go. They paid the 20. We don’t need to profit off of students like that. They’re 18 years old when they sign for this.
Interest going forward doesn’t help those who already have the interest on there, but it will help future students. I’ve for sure appreciated the frozen interest this year, but that doesn’t lower the balance that’s still double my tuition cost.
They COULD just not forgive the principle at all and lower the damn interest rate. I took out $110k for grad school and it had doubled by the time I graduated 4 years later at 6.8% interest. I'm thrilled to pay the $110k. The other $100k in interest?? Robbery. A house loan is half that percentage. Why are we punishing graduate students?
I haven’t seen anything except a blanket “this dollar amount” forgiven as ideas presented. But I don’t think that sees the grey areas of the issue. Someone who took out $20k 15 years ago and had already paid $25k but still owes $15k? Dear god just let them go. They paid the 20. We don’t need to profit off of students like that. They’re 18 years old when they sign for this.
Interest going forward doesn’t help those who already have the interest on there, but it will help future students. I’ve for sure appreciated the frozen interest this year, but that doesn’t lower the balance that’s still double my tuition cost.