Comments on: Back to Basics #1: Time http://poorerthanyou.com/2007/03/14/back-to-basics-1-time/ Money issues for college students and 20-somethings, without being boring. Tue, 24 Apr 2012 13:02:17 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: mary http://poorerthanyou.com/2007/03/14/back-to-basics-1-time/#comment-65998 mary Wed, 24 Sep 2008 19:24:04 +0000 http://poorerthanyou.com/2007/03/14/back-to-basics-1-time/#comment-65998 Is there any group that is working on changing the method of interest accrual on student loans? Simple interest would be the fair way to give a leg up on young adults. Having to pay interest on interest on federal monies is a crime. The Feds should not be able to profit on my financial need. They should also realize that if I'm not paying them I could be putting money back into the economy. My loan has accrued from a final expense of $60,000 to over $160,000 in 5 years, 3 of those in deferral because of an economic hardship. I was never counseled on the impact of how student loans could trap me forever. Does anyone want to help me change this?? Is there any group that is working on changing the method of interest accrual on student loans? Simple interest would be the fair way to give a leg up on young adults. Having to pay interest on interest on federal monies is a crime. The Feds should not be able to profit on my financial need. They should also realize that if I’m not paying them I could be putting money back into the economy.

My loan has accrued from a final expense of $60,000 to over $160,000 in 5 years, 3 of those in deferral because of an economic hardship. I was never counseled on the impact of how student loans could trap me forever. Does anyone want to help me change this??

]]> By: PDD http://poorerthanyou.com/2007/03/14/back-to-basics-1-time/#comment-47522 PDD Thu, 20 Mar 2008 01:54:38 +0000 http://poorerthanyou.com/2007/03/14/back-to-basics-1-time/#comment-47522 Yes, that has always been my plan - pay off high interest debts quickly and left the lower ones until later. Quickly means real quick! Yes, that has always been my plan – pay off high interest debts quickly and left the lower ones until later. Quickly means real quick!

]]> By: philskaren http://poorerthanyou.com/2007/03/14/back-to-basics-1-time/#comment-201 philskaren Tue, 20 Mar 2007 04:55:42 +0000 http://poorerthanyou.com/2007/03/14/back-to-basics-1-time/#comment-201 I definitely agree with you about paying down high interest debt quickly. I am in big debt from pharmacy school and my plan is to tackle it quickly. Those that take a long time will have to pay so much interest, money they could be enjoying! Good Luck to you. I definitely agree with you about paying down high interest debt quickly. I am in big debt from pharmacy school and my plan is to tackle it quickly. Those that take a long time will have to pay so much interest, money they could be enjoying! Good Luck to you.

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