yep

Guess how I can tell that you have NEVER ONCE spent any time looking at a student loan calculator.

Ask your grandkids how you can find one on the internet.

That person didn’t borrow much if the payment is $211

Exactly, covering the costs of all of zero college courses.

You do realize that the OP was talking to YOU, right?

Unlikely. And it doesn't change the fact that the OP has no idea what a student loan repayment looks like.

Exactly, just like I said. He probably paid his own way.
If you can't pay a loan back, don't take the f**king loan.

That's not what the OP says. It's not a "don't go to college" meme, it's a "I know more about your budget than you do" meme.

And, you are probably right. He, like myself, worked and paid his own way through school.

Which I support, but claim can no longer happen. The cost of college fed rose 6% annually compounded after 1980 but wages for college students did not. So it’s a rare case where the student can find a job or jobs that pays $20,000 a year. Without racism or merit scholarships, it’s borrow deep or don’t go. Liberals want that so they can even put the take home pay of all college grads to just what they need to get by - and take the rest on the college debt on a sliding scale, disincentive good working your way up. It’s all about communism's

There is absolutley no reason for anyone to go to "college" anymore unless you are going into medical, engineering, legal or other such field.
Most of todays schools only indoctrinate, they don't "educate".
They don't want to pay for college because the Dems keep telling them that they should get free college.

I learned alog time ago that if you feed strays, they keep expecting to be fed.

So, can we make medical, engineering, and legal college courses free? The country could always use more engineers!

What? How did you get that from my post?
smh

Sorry, I had this crazy notion that you were consistent about what you believed in. Then I remembered who I was talking to.

pffft

I see.

40 years ago there were colleges that were entirely free if you had the grades for it! So again, the problem here is that you have completely lost perspective on just how much people have to borrow to get a degree. One third the interest on 10 times the loan is not better, although maybe you also weren't a math major.

My college was not free that's for sure. I had 11k in loans financed at %19.5 interest the prime rate was 21% back then in 1980 thanks to jimmy carter. A 15 year note cost $189 a month for $11k back then or 36% of a 40 hour minimum wage pay check. Today that $11K note would cost $84 a month at 4.5% interest and would be 6.8% of a minimum wage check today. 38% of a monthly minimum wage check today would finance around $58k in debit . as i have already shown you the average debit today carried for a BA degree is around only around $28K. let me know if you need the link again

See, again, that will barely take you through a semester in most schools. $48,000 a year is normal and most degrees worth doing are 4 years.

You've lost all perspective of this problem.

so why is the average loan about for a BA only $28k you leave out the pell grant and state tuition assistance that almost every stat offers. Here is a link for the 28k figure you seem determined to ignore https://www.nerdwallet.com/article/loans/student-loans/whats-the-average-student-loan-debt-for-a-bachelors-degree

It's not. I don't know what's wrong with your link but given your history of posting bullshit links, it would likely be a waste of my time to investigate. $48k a year is normal these days and 4 years is the standard time for most degrees worth doing. Put THOSE numbers into a loan calculator and tell people how to budget THAT on minimum wage.

Sample tuition/fees per semester Penn state $9.1k, Rutgers $9.3k, Clemson $7.5k and Ga State University $6.2k. in the case of Ga state university its almost free when you factor in $6k for Hope scholarship per year and $6.0k in Pell grant money.

Missouri state college tuitions were free to Mo. residents in the 1950s. Still on the state statutes in 1980s although small tuitions were charged. Student sued to enforce free tuition & go back 5 years to refund illegally charged tuition. Courts let the tuitions slide due to consequences of enforcement & the free tuition law was amended.

I recall 1981 loans at 8%.

In 1981 the prime interest rate hit 21% college loans were private back then and based as a percentage over prime. Prime is the rate the banks could borrow money from the Fed. At 8% the banks would have been losing 12% on every dollar loaned.

Bank guarantees allowed special govt subsidized rates

It does today not sure they were in the college loan business in 1980

My understanding was private banks made the loans, which were guaranteed by the government. I thought the government provided 8% loans by paying the difference between the market rate and the reduced rate.

Ok the government started guaranteeing college loans in 1965 under the FFEL program. Actual subsidized interest charges did not start until 1992. They did it then because previously the full cost of the loan including projected interest had to be budgeted at the time the loan was made. They figured that if they were on the hook upfront for the interest in the budget they might as well subsidize the interest rate of the loan.

I though the government started backing the loans in the late 90’s that’s when the wheels started to come off and escalating from a price standpoint because it was guaranteed money

And learned little from your studies. Yeah, we've had this conversation before.

Learned how to think for myself.

Did you though?

From what I've read from you, Trump does your thinking for you. He talks, you listen and salute.

I rarely mention the name Trump, Zippy. However, you more than take up the slack for me. Seriously, he is foremost in your mind. You wake up thinking about Trump.
You go through your day here memeing and commenting on Trump, your evenings are dominated by incessant thoughts about Trump. And finally, when you crawl into bed you slumber with thoughts and visions of Trump running through your pointed little head.

yeah..that tune went thru my head as I typed the words

You're the one who falls for everything he says hook, line and sinker.

Govt student loans are about 6.9%, about 1 point less than 40 years ago

See, this is the problem right here. $28k will get you less than a semester in virtually any college. You have no concept of what colleges actually cost these days.

https://www.nerdwallet.com/article/loans/student-loans/whats-the-average-student-loan-debt-for-a-bachelors-degree

That makes no sense.

then you shouldn't have any problem understanding it since you make no sense either.