I’m all for fixing the broken system and I’m sure there are peoples whose loan agreements are so fucked up; HOWEVER, in order to not default on my loans I think the minimum payment is like $20 which doesn’t even cover the interest btw. I think there are people that can pay their loans and aren’t. There’s also a lot of people who were taken advantage of.
I owe about $2500 on a loan of $3500 at 3.4% fixed from 2015. It was on hold until I graduated in 2017 and then it was on hold during covid. The monthly payment is about $26.
My SO and I have $130k between us and if we get the IBR figured out, it might bring our total payment down to about $1200/mo which is not something we can afford. I’ve been laid off since Christmas and just started a job, so we’re $20k in the hole and haven’t been able to pay anything. Now I see my credit is taking hits. That hurts but again, no money. Oh well what’s 7 years.
Believe me I understand that we were sold a promise and the last 5 administrations did fuck all to ensure the economy was in a good place for us to reap the benefits. It sucks that there’s so many people like you in the same situation.
I’m all for fixing the broken system and I’m sure there are peoples whose loan agreements are so fucked up; HOWEVER, in order to not default on my loans I think the minimum payment is like $20 which doesn’t even cover the interest btw. I think there are people that can pay their loans and aren’t. There’s also a lot of people who were taken advantage of.
I owe about $2500 on a loan of $3500 at 3.4% fixed from 2015. It was on hold until I graduated in 2017 and then it was on hold during covid. The monthly payment is about $26.
That bitch is going to be autopaying until I die.
My SO and I have $130k between us and if we get the IBR figured out, it might bring our total payment down to about $1200/mo which is not something we can afford. I’ve been laid off since Christmas and just started a job, so we’re $20k in the hole and haven’t been able to pay anything. Now I see my credit is taking hits. That hurts but again, no money. Oh well what’s 7 years.
Believe me I understand that we were sold a promise and the last 5 administrations did fuck all to ensure the economy was in a good place for us to reap the benefits. It sucks that there’s so many people like you in the same situation.