⚡️🇺🇸 WATCH - American just called to check on her student loans

She was told she is accumulating $30 of interest a day, that’s $900 per month just in interest

At $30 a day interest and her current payment the balance will ever only go up. This is criminal

“So I could pay a thousand dollars a month and only 10% of that is going to my principal. And there is no option for me, according to her, to pay like each payment part of the principal, part of the interest.

No, it all goes towards interest until you have no interest left, which will basically never happen. As I'm occurring. $30 a day, it doesn't take a day off”

It’s not that Americans aren’t paying their student loans, it’s that they can literally NEVER pay them off with these predatory loan traps.

I've already said what I think of loans with usurious interest, and I'll say it again in a comment.