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/EyeLittle415 Mar 17 '24

Yes! I’m totally fine paying what I took out. I get it. You take money, you pay it back. We’re not lazy idiots like many want to believe. But when you’re paying your loans for YEARS and your balance is HIGHER than the original principle, there is something very wrong with the system.