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zota
@zota.bsky.social
Technology therapist, gonzo designer, grey-hat historian. Los Angeles.
295 followers932 following1.2k posts
Zzota.bsky.social

One of the many things you don't understand about student loans is you can never truly default until you're dead. They garnish your wages and take your social security.

The average loan maturity for FY2022 is 17 years, with a weighted average interest rate of 4.68%, average loan fees of 1.31% (1.057% for Federal Direct Stafford Loans and 4.228% for Federal Direct PLUS Loans), a lifetime default rate of 19.13%, and a recovery rate of 104.74%.
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NSnickct.bsky.social

Partially true. But you can, and pepople do, get rid of student debt through bankruptcy. There are millions of Americans over 60 who carry student debt. Dying in debt is not uncommon. Hopefully you'd understand that someone dying with student debt makes that debt bad.

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zota
@zota.bsky.social
Technology therapist, gonzo designer, grey-hat historian. Los Angeles.
295 followers932 following1.2k posts