Quote:
Originally Posted by rconverse
Without backing into the numbers, that's just how interest works. I purposely pushed out of my mind how much I was paying for my home on the contract how much money I will actually pay the bank. The two are different ball parks.
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I undertsand full well how interest works. I thought I understood at 18, but you dont really understand until you start paying it back.
yes, that's a bad excuse, but its probably 90% of the people that took loans.
and again, my issue isn't with paying my loans back. it's with charging 6-9% interest against poor students trying to get an education, which will help the economy.
If nothing else it's bad business for the government, I think- I'm not sure what's more impactful, the $100k or so I'll spend on interest, or the fact that I was delayed in buying houses and cars, and many people will never be able to. Charging such high interest rates seems like it would mitigate the government's ROI on the economy.