To some folks, having to pay off their loan, is considered predatory.
I've passed on a traditional uni for this because I want to avoid debt, and still get "why don't you go to uni?"'d every so often by family and acquaintance's.
And if the argument is "well, if you don't make enough to pay it, just don't!", as GP appears to be, I don't like spending other people's tax dollars dishonestly - especially not on textbook companies [0] and an expanding administrative staff.
[0] Which bribe and cut-throat their way into forcing $100+ payments per student per class per semester. Pirating or buying second hand doesn't even work half the time now - you need the "online access", aka DRM.
There's literally lectures and a quiz you have to pass before you can take the loans that explains how repayment and interest rates work.
For public loans the actual amount doesn't really matter because payment is income based. And the cap on lending is around $60k for 4 years, so I'd hardly use the word massive.
>"why don't you go to uni?"'
Of course all this only applies assuming you're American, which I'd guess your not since your friends call it uni.
Yes, but they are told their whole life "after college, you'll make enough to pay it off easy, no problem!"
> For public loans the actual amount doesn't really matter because payment is income based. And the cap on lending is around $60k for 4 years, so I'd hardly say it's predatory.
60k, with an extremely high interest is most definitely a problem.
> Of course all this only applies assuming your American, which I'd guess your not since your friends call it uni.
Nope, I live in Texas. Anecdotally, my group of friends all flip between "school name"/School/Uni in conversation. In this case, I picked uni because I'm on mobile and typing is hard.
If anything, the predominant messaging today is the exact opposite of that. It also doesn't matter because public loans qualify for income based repayment, so it doesn't matter. If you end up stuck working at McDonalds for the rest of your life, you'll never pay back a dime.
>60k, with an extremely high interest is most definitely a problem.
Current undergrad rates are fixed at 3.73%.
>Anecdotally, my group of friends all flip between "school name"/School/Uni in conversation.
Interesting, (as an American myself) I've never heard an American use uni outside of conversation with Europeans.
