LogFAQs > #922253138

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TopicYooo how the fuck do people rack up 6 figure student loan debt LMAO
Rika_Furude
05/22/19 11:47:40 PM
#75:


Also why is this such a scam in america

Like in australia i finished a 3 year bachelors degree (internationally certified and equivalent to a 4 year american bachelors), my total debt was like $17k AUD.

The "loan" i got was a government provided, interest free loan. Where theres no mandatory repayments until you earn over a certain threshold per year, and if you were earning over the threshold and drop down below it then the mandatory repayments stop.

And if you made voluntary repayments then (at the time) they contribute like 10% extra for free on top of what you pay to encourage you to repay earlier

Yet in america they give you mandatory filler classes to make you study for a 4th year for no reason and they charge like 3-4x per year over there than they do over here for the entire degree.

You have to get real loans with real interest from real predatory providers/sharks and i assume theres minimum monthly repayment no matter what your capability to repay it actually is, with real consequences if you dont

Americas education system is fucked
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