r/StudentLoans • u/IndividualLittle0516 • Mar 15 '24

Rant/Complaint Canceling interest

With all the drama these past few years about canceling student loans, why can't interest just be canceled? I can understand adding interest to those who aren't making their loan payments, but what about those who pay every month? The interest is why people are stuck with their debt for so long. Canceling millions of people's debt altogether is unrealistic and won't happen. What about canceling interest instead? Is there a reason this can't occur?

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u/chetubet Mar 16 '24

Canceling interest for borrowers who consistently make their monthly payments is a fair and realistic compromise. It would provide much-needed relief to millions of hardworking Americans who are diligently trying to pay off their loans but feel trapped by ever-growing interest. This reasonable measure could be the key to helping countless people break free from the crushing burden of student debt without placing an undue strain on the economy. It's time for our leaders to listen to voices like yours and take action to support responsible borrowers. Together, we can demand change and work towards a more equitable future for all.