• Ghostalmedia@lemmy.world
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    1 year ago

    Predatory lenders? Biden’s plan largely targeted federal loans. That shit was pretty regulated and had very low interest rates. A pay day loan it was not.

      • Ghostalmedia@lemmy.world
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        1 year ago

        Well, consider that we also live in a world where American school districts, in major metro areas, are literally opening up low income housing dorms for teachers, so teachers can afford to subsist on a teacher’s salary.

        Low interest doesn’t mean much when you can’t even pay your rent with a job that requires a college education.

        • OneThere@lemmy.world
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          1 year ago

          Honestly, teachers are a bad comparison when it comes to the student loans debate.

          A lot of districts/states/townships have programs that forgive loans for teachers after a predetermined amount of time serving a public school.

    • Sixofdiamonds@lemmy.fmhy.ml
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      1 year ago

      You can use the loan to get a bs degree. If you’re in 100k in debt for a degree that gets you 55k a year job you fucked up. The lenders world normally factor that in but if it’s backed by the government then free money.