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Then I think we should rename it from "mortgage" to "student loans". As long as they keep making minimum payments, this is technically fine.
by freeone3000 7y ago
Then I think we should rename it from "mortgage" to "student loans". As long as they keep making minimum payments, this is technically fine.
- isoskeles 7y agoMisses the point, but sure, "student loans" is a fair comparison. The name doesn't matter to me, it's all debt. I don't see it as "technically" fine that the rate at which the debt grows consistently exceeds the rate at which the income grows. There comes a point in time in which the principal of the debt is large enough that minimum payments exceed income.