> you’d get no sympathy if you buried yourself in debt to buy a Tesla and then didn’t pay off the principle for years.
Banks get to create the principal that they loan out of thin air[1], lend it at ridiculous interest rates to students and have it guaranteed by tax money...they do not have my sympathy!
Risk usually dictates interest rates. Meaning that there must be a chance for you to lose the money, but that is not the case with most student loans. Yet they still charge high interest rates.
It is criminal that zero-interest (or near zero) loans are not available for students from the government. I am fine with hounding them for life the principal and even not letting them discharge it with bankruptcy, but the interest is practically evil considering the banks take no risk at all.
There is literally nothing we can invest our tax money in that will return bigger gains than education and healthcare.
Banks get to create the principal that they loan out of thin air[1], lend it at ridiculous interest rates to students and have it guaranteed by tax money...they do not have my sympathy!
Risk usually dictates interest rates. Meaning that there must be a chance for you to lose the money, but that is not the case with most student loans. Yet they still charge high interest rates.
It is criminal that zero-interest (or near zero) loans are not available for students from the government. I am fine with hounding them for life the principal and even not letting them discharge it with bankruptcy, but the interest is practically evil considering the banks take no risk at all.
There is literally nothing we can invest our tax money in that will return bigger gains than education and healthcare.
[1] https://www.bankofengland.co.uk/-/media/boe/files/quarterly-...