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But he is not wrong. In some states the average student debt is $40k [1] and APR is 5%. Anecdotally I have friends (and family members) who seem to be resigned
by vvpan 4y ago
But he is not wrong. In some states the average student debt is $40k [1] and APR is 5%. Anecdotally I have friends (and family members) who seem to be resigned to never paying back their loans or doing so very late, when they are 50 or something like that, and some of them are in well-paid tech jobs.
[1] https://www.forbes.com/advisor/student-loans/average-student-loan-statistics/ https://www.forbes.com/advisor/student-loans/average-student...
- rcarr 4y agoAverage UK student loan debt is actually greater than in America and, even worse, was even accumulating 12% interest rates earlier this year before the government finally woke the fuck up and did something about it. The loans are better than their US counterparts in that you don't have to repay them until you hit a certain income threshold but once you do, you will then be paying 9% of all your earnings above the threshold on them. Oh and they do eventually get written off - but only after 30 years. Meanwhile the English speaking world scratches its head and wonders why everything is going to shit. https://www.ft.com/content/a1c27f38-0c86-11e6-b0f1-61f222853ff3 https://www.ft.com/content/a1c27f38-0c86-11e6-b0f1-61f222853... https://news.sky.com/story/student-loan-interest-rates-slashed-for-second-time-amid-cost-of-living-crisis-12669607 https://news.sky.com/story/student-loan-interest-rates-slash...