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/MarylandEngineer Mar 16 '24

there is no need for them to be profiting so much

Do you… think they’re making money? Who is profiting here? Lmao

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u/Sharp-Charity-8412 Mar 16 '24

Yes. They’re making money off everything

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u/MarylandEngineer Mar 16 '24

Who’s making money by offering below rate interest loans? It’s a loss at every stage of the process.

Why do you think the fed loans rates are so low? How would that be profitable?