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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Common damn sense.  You take out debt, sign a contract agreeing to pay, therefore you pay when the bill comes due. Not sure why this common sense idea needed to go all the way to the SC. No one owes you for taking out debt due to your own free will.  The govt can't block lenders from receiving payments in accordance with an agreed upon contract.

Pay your damn bills.[/quote]

I took out 25k. I’ve repaid over 45k thanks to compounding interest. It’s not my job to prop up the DoE and their vendors.
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Take your concerns up with Obama.  That all started under his "genius" plan.  [/quote]

Interesting…. because I went to grad school when Bush was president so, I’m not sure what Obama started that impacts me here. [/quote]

Did you take a private loan?[/quote]

There was a small portion that was private and those were quickly paid off. The overwhelming majority of my loans were FFELP which if they were still intact would have been already removed from forgiveness last fall.

I’m just pointing out that this pay for what you owe bullsh*t argument ignored compounding annual interest that turned my loan into an 80% interest rate instead of 6.25% I signed on for.

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It looks like you paid $200 a month for your $25k loan and are surprised by the total interest.  Or perhaps you waited 4 years and then paid $300 a month for about 12 years.
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You’re in the ballpark, the monthly payment balance difference is de minimus. I wasn’t surprised. I never said the amount was difficult. They are, and have been, paid and I wasn’t benefiting from any forgiveness.

My point was to the initial poster who said “you pay when the bill comes due”. I did pay my entire loan, plus another $20k. Again, loans backed by the federal government should not be a revenue generator. And so have many people that borrowed a whole lot more than me and have been paying for years and their balances today are higher than their original principal at graduation (or worse when they dropped out and received no corresponding pay increase from their degree). [/quote]

Hey my crap, there are interest on loans!!!!!

Omg, keep crying.  Imagine getting to adulthood and thinking you deserve 0% interest loans for any debt you take out.

Jesus Christ, it is scary people like you are out there and can vote.[/quote]

JFC, you have reading comprehension problems. No one ever said 0% interest loans.

It’s scary people who can’t understand and extract information from what they read, like you, can vote, but it sure explains a lot about the last decade. [/quote]

Keep crying.

Pay your own damn bills with interest.

And don't whine about basic finance 101.

How does anyone get to adulthood and suck with this much with money and understanding obligations owed when one takes out debt?

So much whining about being an adult. Grow up.[/quote]
PP was discussing why student loans [i]shouldn’t[/i] have interest. Are you going to engage with that or not? Explain why they [i]should.[/i]

Or just spew insults. It’s real gonna convince other people that you have a good point.[/quote]

Jesus you really are dense.  Since time immemorial interest has been charged on borrow money.  If you don’t charge interest, why would anyone be incentivized to lend you money.  Duh.  This is like 4th grade economics that adults in this thread shockingly have failed at.  A dollar 10 years from now is not worth the same as a dollar today. If someone gives you a dollar today and gives you ten years to pay it back, the lender will only be incentivized to lend money to you in the first place if they get their money back AND compensation for the time value it costs AND a little bit of profit for taking some risk.  Try seeing how well societies and economies would function if zero percent interest were put onto loans. The entire economy would collapse as liquidity for lending would dry up.  No one is incentivized to lend money anymore. The country would collapse.  Interest rates have very good purpose.  Even a 4th grader understands it. [/quote]

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