Quote:
Originally Posted by Bladewire
I didn't say loans, I said student loans, and you know exactly why, they're a bank scam. Unlike the Trump fanboys here (with multiple fake nicks) you're a Trump supporter that's smart and posts from your own knowledge and with thought. You're also a fiscal conservative like me, which I like  |
why are they a scam? it's a loan like any other, only differences are that:
1. often interest rates are subsidized by the government
2. can't be discharged in bankruptcy (for obvious reasons)
and to put things in perspective, according to that chart someone posted earlier, average person graduates with $35k debt... which seems like a significant amount, but if you spread it out over your entire career, it works out to <$1000/year, which works out to <2% of one's income...