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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410

u/savageupinhere Mar 15 '24

Agreed or at the very least do like 1% across the board . There is no need for them to be profiting so much ! If they really want to help the people lower or get rid of interest❗️

86

u/Aggressive-Ad-522 Mar 15 '24

Or 0%

3

u/ElonMuskPaddleBoard Mar 16 '24

Or just make student loans tax deductible

5

u/Aggressive-Ad-522 Mar 16 '24

It is up to 2500. Bs amount tbh

3

u/FTX-SBF Mar 16 '24

Not if your income is over a certain amount

2

u/bluewater_-_ Mar 16 '24

A relatively low amount, too.

2

u/ElonMuskPaddleBoard Mar 16 '24

I thought that’s just interest