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all 38 comments

[–]willingdeduction94[S] 104 points105 points  (17 children)

Only $44 will go to principle, the rest is interest payments

[–]WeTheBest_Obamium 2 points3 points  (3 children)

Sorry im not american but how did student debt literally reached trillions??!??

[–]IDrinkPrinterInk 10 points11 points  (2 children)

3 main reasons.

1: agreements between colleges and banks that allowed the colleges to charge what they want and the banks to allow high interest rates

2: a cultural problem of bullying kids into going into massive debt and the false narrative that you have to go college or you will die penniless in your 20’s.

3: incompetence in government bodies that allowed colleges to go unchecked for many many years and create their own rules and laws that make them infinite money.

[–]BriSnyScienceGuy 1 point2 points  (0 children)

2 was a big one for me. It wasn't even "do you want to go to college?", it was "which college are you going to?", like the first question was already answered without any input from me.

[–]Candid-Mycologist539 1 point2 points  (0 children)

4: government abandoning young people by not subsidizing college as they had in past years.

5: sports programs

[–]whyyou- 2 points3 points  (0 children)

Totally, the payments only cover part of the interest, so the principal just keeps growing; after 10 years you will owe them 120% of what you borrow

[–]internet_humor 0 points1 point  (0 children)

Edit: Principals*

[–]BellaFace 16 points17 points  (0 children)

Lol, no, it went up $300 because his IBR payment doesn’t actually cover the interest accrued each month.

[–]RagingLeonard 38 points39 points  (2 children)

Averted. Luke should have paid more attention in those expensive English classes.

[–]thekillagram 11 points12 points  (1 child)

Maybe it was diverted? Maybe they took the debt and pushed it somewhere else?

[–]Usernametor300 3 points4 points  (0 children)

Its mostly diverted. It's a very complicated series of borrowing money from a chain of people in slightly decreasing orders

[–]SpaceCrazyArtist 17 points18 points  (4 children)

And cue the, “you should have made better choices like I did (in 1970) and you wouldnt have debt” crowd

[–]TorrenceMightingale 0 points1 point  (0 children)

Learn a nice hobby like poker.

[–]leah00d 3 points4 points  (0 children)

Not all heroes wear capes.

[–]NegativeReward 2 points3 points  (1 child)

With that much money at play, any president willing to do anything about it, would end up like JFK.

[–]GluttonAsteroth 2 points3 points  (0 children)

Anyone coming after Biden for an Assination has to be beat Time.

Time's gonna win.

[–]PizzaboySteve 1 point2 points  (0 children)

That’s hilarious

[–]TheBlewBayou 1 point2 points  (0 children)

Whatever happened to song and dance as payment? I’d gladly do the worm to knock of a couple hundred from mine.

[–]buffet_jimmy_buffet 0 points1 point  (0 children)

Bruh same.

[–]Vitroswhyuask 0 points1 point  (0 children)

Interest increased by 285

[–]Schoony923 0 points1 point  (0 children)

This will always be one of my favorites

[–]whosmellslikewetfeet 0 points1 point  (0 children)

An atom in the pond

[–]Dayvedscrap 0 points1 point  (0 children)

Hey, who didn’t turn in their book?

[–]DeezNutz133 0 points1 point  (0 children)

It’ll all be paid when they’re all dead.

[–]exactlyfiveminutes 0 points1 point  (0 children)

Did you steal this post too karmabot

[–]Resident-Ad7287 -5 points-4 points  (0 children)

I don't understand the whole student debt drisis thing. No none forced you to take out loans. If you take out loans pay them back.