3 ms·
16% interest on student loans is basically usury
by notadoc 10y ago
16% interest on student loans is basically usury
- distances 10y agoFor loans you can't default on it should be the market rate plus a tiny margin. So maybe 2% or so nowadays.
- zeroer 10y agoThe lendee can't default, but that doesn't mean the loan gets paid. Some people just don't have money/income/assets to seize, and courts will not garnish poverty wages.