Like compound interest, non-dischargeability is a concept everyone needs to understand viscerally before they sign for these loanspic.twitter.com/UpRvAbR0Jn
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Like compound interest, non-dischargeability is a concept everyone needs to understand viscerally before they sign for these loanspic.twitter.com/UpRvAbR0Jn
Income share agreements are the future!
There are plenty of ways to “get a degree” without taking on massive loans. They’re just mostly low status ways...
Well, when these teenagers become adult they still won't stop spending on bs because of the 'American' culture. So yeah, neither do they seem to have the intellect nor the rigour to pay off debt, even when they become adult.
My dad "offered" me to get 150k in loans to get a bachelor's in the US and then got mad when I said no... I had no intention of end up paying almost half a million $ for a degree
but what lesson in finance and value you got by doing calc on the actual cost of the 150k loan.
She doesn't mention her interest rate, but the numbers suggest there must have been a trigger event such as non-payment for a time that kicked the rate up to one more onerous than the original rate.
"How the fuck is this possible?" is why it is possible. Preying on people who do not understand things is sadly perfectly legal.
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