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by bluto 2857 days ago
Own your choices. You decided to go to college as opposed to not going. You decided to go to the college that you did in favors of others. You knew the cost of tuition and room and board. You knew how much you would have to borrow to afford the college you chose. You voluntarily borrowed the money that you did. You knew the amount of $ that you would owe. You knew the payment schedule. You had a reasonable idea of how much you wold earn given the degree and college that you chose. I feel a little sorry that you now have to make sacrifices to pay back the money you chose to borrow. Maybe you have to do without for some period of time while others you know don't.
1 comments

My loans were based on the LIBOR rate. That rate was shown to be manipulated by many banks[1]. Did I chose to do this going into the agreement for the loan? Did I get the chance to leave the agreement after the rate was manipulated, or to not pay back interest for the portion of time it was manipulated?

Personally, my loans are almost all paid off and any wiping of student loan debt would barely affect me. I can still see how letting the system continue as it is does nothing but funnel money from the public, and students in particular, into the banks pockets. I don't see why we need to protect the banks from any negative results when they have actively subverted the rules

[1]https://en.wikipedia.org/wiki/Libor_scandal