• ZC3rr0r@lemmy.ca
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    1 year ago

    Dear God this is saddening to read. What just system saddles people with a debt they have no choice but to take on in order to hopefully get a decent enough education to repay the loan, but then fails to account for situations where the borrower’s income is not sufficient to be able to afford more than the minimum payments? All the while applying compounding interest on the principal to make sure it’ll never be repaid?

    And to make it truly evil, makes it so that they can garnish both your wages and pension in case of a default?

    Seriously, student loans and medical debt should both be interest free and prorated to the person’s income in terms of minimum payments. It’s ridiculous to force people into a life of debt slavery just for the shot at a decent education or the right to be healthy.