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Joined 11 months ago
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Cake day: August 9th, 2023

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  • This is a multi layered problem without an easy solution. At face value, there really isn’t anything wrong with your statement, but once you dive into student loans/college education/how public education made everyone believe the only path forward was college - maybe, just maybe something needs to be done.

    Capping interest rates so that people can actually pay their debt down is not a bad thing. The root of the problem still needs to be tackled - college is too expensive and administration departments are too bloated - but when the government guarantees the loans, colleges just raise rates because they know students can get them. Schools are not teaching enough financial literacy to make sure kids understand the opportunity cost of what they are signing up for.

    Saying this as a person lived at home and commuted to undergrad and for my master’s degree and paid my loan back.