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MichMan

(13,887 posts)

10. It's like any loan with compounded interest

Reply to Tansy_Gold (Reply #7)

Wed Nov 27, 2024, 08:13 AM

Nov 27

Just like any credit card.

Making the minimum payment just barely keeps you ahead. Look at any credit card statement. If you pay only the minimum, it takes 10 years to pay off a few thousand dollars. If you pay more than the minimum, the time frame drops quickly.

People with student loans need to understand this

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Highlight:

Trump team eyes quick rollback of Biden student debt relief [View all] BumRushDaShow Nov 26 OP

Large % of Trumpets don't have student loan debt MuchBetterThanThis Nov 26 #1

The recently graduated lawyers rwnj need Marthe48 Nov 26 #2

This will not go over well. Trump voters Joinfortmill Nov 26 #3

nt Angrybob2001 Nov 26 #5

I feel for the young people that will get no relief from this fat orange bastard.... wolfie001 Nov 26 #4

He is making plenty of economic mistakes IbogaProject Nov 26 #6

This will push many back into poverty Tansy_Gold Nov 26 #7

It's like any loan with compounded interest MichMan Nov 27 #10

Thank you so much for your kind words Tansy_Gold Nov 27 #11

I can already hear the cultists asking, "What about my student debt?" sakabatou Nov 27 #8

Dummies didn't vote union rep Nov 27 #9