But isn’t the entire point of student loans to encourage people to get an education and as such they come with extremely favorable conditions?
For example: my student loan had 0% interest, a income-dependent monthly payback that only started 2 years after graduating and a fixed payback period of 15 years (that is: if I didn’t finish paying it back fully after 15 years due to low income, any remaining balance was forgiven).
What is even the point of offering a student loan at 10%?
But isn’t the entire point of student loans to encourage people to get an education and as such they come with extremely favorable conditions?
For example: my student loan had 0% interest, a income-dependent monthly payback that only started 2 years after graduating and a fixed payback period of 15 years (that is: if I didn’t finish paying it back fully after 15 years due to low income, any remaining balance was forgiven).
What is even the point of offering a student loan at 10%?