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Reply to "SCOTUS on Student Loan 9 - 0"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I’m confused about this recent tweet by former New York State Senator Alessandra Biaggi: [quote]In 2012, I graduated from Fordham Law School with $180,000 is student loan debt. I’ve been paying loans for 11 years. Even paid two of them off completely. In 2023, my balance is $206,000.[/quote] Forgive my ignorance, but how is this possible, especially if she has been paying (without interruption , I assume) for 11 years and has paid two off completely? Is nothing going toward the principle? Did she go through a loan shark? I don’t understand this. [/quote] Because people are dumb, take out $180k in debt, and don't do 5 minutes of hw learning about the concept of loan amortization.[/quote] These exaggerated talking points are comical. The overwhelming majority of federal borrowers have nowhere near $180K in loans. You can't take out more than $30K in federal loans for undergrad.[/quote]
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