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| Topic | Woman started with 80k in student loans. Still owes 76k after paying 120k. |
| Zanzenburger 08/29/20 3:29:38 PM #42: | Many folks are saying that students should know better when taking out loans. But the fact is that students don't. Many students, particularly those from poor families who have never taken out loans, do not understand compounding interest rates. We as a society make it worse by making it deceptively easy to get those loans. If you fill out a FAFSA, the loans are automatically added to your awards package whether you want them or not. You have to specifically opt out of them after they are awarded to you. My job is to go out into the community and educate families about this, but too many people fall through the cracks. The system itself is broken, and rather than telling students to be smarter about taking student loans, we shouldn't be offering thousands of dollars in loans to 17-year-olds. --- Congratulations! Your post was deemed response-worthy. ... Copied to Clipboard! |
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