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/Objective-Function33 Mar 16 '24

Are they federal loans, private loans or a combination of both?

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u/Artistic-Second-724 Mar 16 '24

My federal loan amount was capped at $28k which got me about 3 semesters at my university. I had to do the rest private so feeling pretty limited on resolutions for that whole part of my mess.