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Inflation is already debt forgiveness. Since my subsidized loans had interest well below inflation, I decided to pay the absolute minimum possible payment on t
by legitster 4y ago
Inflation is already debt forgiveness.
Since my subsidized loans had interest well below inflation, I decided to pay the absolute minimum possible payment on them for last 9 years. In that time, they have lost 37% of their real value just through inflation alone.
I always felt bad for my friends who insisted on paying off their loans as soon as possible. And now, mine are about to disappear completely for free!
- IceMetalPunk 4y ago37% in almost 10 years is not forgiveness. I haven't really paid attention to the valuation of my many student loans over the years, but if they'd lost 37% of their initial value in 10 years, they'd still be valued at $38k after a decade.