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A Boring Dystopia @lemmy.world

return2ozma @lemmy.world

1y ago

Students borrowing from the federal government this fall will face the highest interest rate in more than a decade

www.nbcnews.com

Students borrowing from the federal government this fall will face the highest interest rate in more than a decade

News @lemmy.world

return2ozma @lemmy.world

1y ago

Students borrowing from the federal government this fall will face the highest interest rate in more than a decade

www.nbcnews.com /business/business-news/student-loan-interest-rates-surge-highest-decade-economic-shifts-rcna152230

14 comments

Debt slavery for the chance to be employable.
- The insane part is that college has a good chance to have no effect on your overall earning potential. Polymatter did an excellent video on it recently.
  
  I have a MSc from a state university and can't even get an interview.
  
  You have a link to said video.
  
  Yeah, it really only comes down to whether you're at an ivy and networking for future connections. Source: did not attain a college degree, ended up among CS grads.
6.3% for undergrads, which is the same as I had some 15-20 years ago.
- Except now inflation is higher, so, effectively the rate is smaller.
  
  That's only really true if your salary would grow at the rate of inflation. Which is definitely not the case.
Taking out a loan to go to college is looking like a really poor choice of financial investment at this point
- It honestly didn't look good to me in 1999 when RIT was hitting 40k and i only had to pay half the cost. Can you imagine now? Absolutely nothing has been done to actually solve student loans, just a politicized and heavily obstructed attempt to relieve some debt. And now we've hiked the rates up to damn near double digits and said go get em kids! It's like the 80s all over again except someone added two zeros to the price of everything.
Seems like a real good plan to have a well educated and happy workforce. I don’t see at all how policies and systems like this could lead to the downfall of a civilization.

14 comments