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FLASH 5mo ago

⚡️🇺🇸 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.

https://blossom.primal.net/46d6bec0377e622dfb8bee1903161675650ecaca56542811c3b87aca8c352bb1.mp4

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FLASH 5mo ago

🗞️ Source : Wall Street Apes.

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FLASH 5mo ago

See also nevent1qqsq9s2cxuc8jfxe77hprkz38a8cmd9n8e69u3g2a5gk9q7jf99qh4cg5r8q9

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BTCrevolutionary 5mo ago

Stop paying student loans it’s the only way they are going to listen!

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db 5mo ago

The American dream is being a debt slave until you die. Folks wake the fuck up. Read the constitution and act.

nostr:nevent1qqswdepp7kaxa8a9ahz5utncnyz2nuc40308ffk9jf9qlqm4mpffj5gpzemhxue69uhhyetvv9ujuurjd9kkzmpwdejhgzzw7rx

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marksn 5mo ago

sell that mercedes and buy bitcoin

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Hawk 5mo ago

If you're a college graduate and you've never thought about how much interest you're paying on your loan, then your loan didn't buy you very much in the first place.

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Roboto 5mo ago

Nice car

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Paul Allen 5mo ago

Not sure if she's just engagement-farming or really that oblivious to include a Starbucks cup and a nice car interior in a video ranting about her debts.

Still, when you look at the seemingly growing list of stuff that an 18-year-old is legally considered too immature to do (like buy a handgun or a beer), maybe sinking oneself into debt for a college degree should be added to that list.

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Jamie 5mo ago

I think she is mistaken on a few things. Lump sum payments should go against the principal and the interest will reduce as the principal is payed back.

It is still daunting! Here is my quick math.

For the interest to be $30 a day, the loan would have to be $270,000 at 4%. This means it probably is going to take 20 years to pay back to make the payment manageable, which is $1,600 a month. In total, she’d pay $120,000 in interest.

All this because she was not properly taught finances and the loan industry is predatory.

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Consciousness Incarnate 5mo ago

All the bills are negotiable instruments