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No it is not! I was appalled years later to learn that government-backed loans were being given at such high rates. It just seems cruel. The government has no o
by standardUser 2y ago
No it is not! I was appalled years later to learn that government-backed loans were being given at such high rates. It just seems cruel. The government has no obligation to turn a profit on student debt.
- _heimdall 2y agoIf you're in the US, the government isn't really profiting on school debt. The government guarantees the debt, but that is a play to protect the banks rather than to drum up profits. Profits really don't matter to a government that can print any money it needs but doesn't currently have.
- verdverm 2y agohttps://studentaid.gov/understand-aid/types/loans/interest-rates https://studentaid.gov/understand-aid/types/loans/interest-r... 6.5 / 8 / 9 according to their own website These are about the same as when I was in school during the great financial crisis I have/had loans from 2.5-6.5