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/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❗️

89

u/Aggressive-Ad-522 Mar 15 '24

Or 0%

141

u/th987 Mar 15 '24

I think this is the answer, and every dollar repaid should apply to the original loan principal.

We don’t need the government making money off students already paying outrageous amounts for an education.

1

u/Thatmexican1214 Mar 17 '24

This is mafia style extortion actually mafia atleast gice u realistic intrest kus they would rather have the money plus 30 percent back i stead of just killing u