4 ms·
From the banks perspective to make the money back, that it takes for a lot of people to payback their student loans, means they end up charging massive interest
by Meph504 6y ago
From the banks perspective to make the money back, that it takes for a lot of people to payback their student loans, means they end up charging massive interest.
I don't like to see people placed in a financial situation that is a massive hardship, but the details were there, they weren't tricked, it's not like they are people loan sharing these loans. The people go to them, have the terms presented and seemingly take the loans that put them in a world of hurt.
Many of these loans, have you building interest the whole time you are in school. So you end up owning principal + 4 years interest the day you graduate, that's a bad deal that students take every semester.
And you can't easily discharge the debt, but tons of people just don't pay their loans back. And many more that take 10 times as long as they agreed to.