^^^^ THIS. ALL OF IT.
Have you no sympathy for the banks? They need people to have eternal debt.
Think of the banks!!!
@feloneouscat @th3j35t3r @duglop privatize the profits. That’s the name of that game.
@duglop People in general can't math well.
Wait until they hear about how mortgages work. 😬
@duglop I have been asking someone to explain to me like I'm 5 how this costs the taxpayers. THANK YOU.
@Pitizenlyn Hey you're welcome I can't take the credit for it I saw it on another platform and I felt it necessary to share here
@Pitizenlyn I've seen it posted several other times so I'm not sure who the actual creator of it is but they deserve all the credit..
@duglop Yes! People don't understand how quickly the interest racks up on student loans and also how high the interest rates are on such a massive loan.
They keep comparing it to a mortgage but they tend to forget that the first 3 to 5 years of mortgage payments are basically interest payments only .... Kinda the same principle for student loans the first couple years is basically paying off the interest in advance