• uberkalden@lemmy.world
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      1 year ago

      Well, you could do interest free with penalties for not making minimum payments.

      But also, effectively canceling student loans may be the whole point

    • glockenspiel@lemmy.world
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      1 year ago

      Want to buy a house? Or make most major life financial decisions involving loans? You’ll pay it off to the best of your ability. Even if your student loan payment is a couple hundred bucks a month, lenders look at the entire principal and weight it heavily against you—even with 7 years of perfect payments.

      But the real question you should ask is: why do we want normal people to pay these particular loans back when it is a fact that the government crafts policies to force people into higher education in order to secure our economy? For all the bluster with Gen Z somewhat dodging degrees, the fact remains that higher education remains a requirement for the future strength of all of us.

      It should be gratis just like primary education is. It’s a public good. Cut the cost of getting these degrees and suddenly you don’t have people requiring incredibly high salaries in order to just pay the interest.