[ClumsyPilot]

> The collateral is effectively a claim on the person's future earnings

Back in the Russian empire a person could buy themselves out of serfdom if they could come up with the money… which was difficult for obvious reasons.

And this feels like a modern reincarnation of the system.

It’s categorised as ‘ Unfree Labour’

[nekusar]

Its the same too with renouncing citizenship.

If you have federal student loans, you are trapped as being a US serf. And with usurious interest rates, you will never be able to buy your freedom.

[toast0]

Are federal student loans at usurious interest rates?

From what I could find [1], the caps look fairly reasonable. The unaffordability seems to come from the financed amount.

[1] https://mohela.studentaid.gov/DL/resourceCenter/DLInterestRa...

[selimthegrim]

These are for government loans. I really wish my private loan north of 13% was capped.

[toast0]

I don't think private loans are federal loans?