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Mr E
Sep 18, 2007

Narcissus1916 posted:

They touched on it a bit as examples, but I wish they focused in on how much higher the interest rates are for student loans. That's the biggest culprit and "gently caress you" part of this. And also where we differ from most other countries.

After years of wrangling I finally found solid (and remote!) employment right before COVID hit. I was luckily in a position to finally be able to make a real dent in my loans. But literally every financial expert and advisor told me that because of interest rates the best, smartest choice was just to pay the bare minimum amount for the foreseeable.

Yep that's exactly what I've been told for mine. I pay the minimum and just consider it like insurance or whatever as something that just lowers my take home pay every month. I've payed for around 9 years on mine and I think it's gone down about 2k of the ~55k I have. I was lucky to get most of my Master's paid for so that loan is gone but I just don't see any way to pay off the undergraduate unless I somehow land a job that pays around 3x as much as I'm making now. I haven't gotten around to trying out the new payment plan they released but I probably need to try and apply for that before the summer changes come into affect regarding it.

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