Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

General Discussion

bottomofthehill

(8,329 posts)

17. I have parent plus loans ( government loans)

Reply to Hoyt (Reply #5)

Mon Jun 14, 2021, 08:46 PM

Jun 2021

Interest rate is about 7 percent. The loans commercial loans that I got for the kids is at about 4 percent

Go figure, the bank loan rate is lower than the GOTV rate. Plus, when you borrow 10,000 dollars you don’t get 10,000 you get about 9500 bucks as the gove takes some of the interest up front.

Edit history

Please sign in to view edit histories.

24 replies

= new reply since forum marked as read

Highlight:

Can Biden make student loan interest 0% [View all] Bluesaph Jun 2021 OP

Price controls are doable but extremely risky. brooklynite Jun 2021 #1

No. Feds pay interest. Dave says Jun 2021 #18

IMO, banks shouldn't be involved in the process. roamer65 Jun 2021 #2

Yup!! Dave says Jun 2021 #19

No worries. roamer65 Jun 2021 #20

He doesn't have that kind of power. Nor should he. Ocelot II Jun 2021 #3

K & R Thank You! Budi Jun 2021 #9

Zero percent is probably undoable questionseverything Jun 2021 #4

Lower it to the interest paid on 10 year Treasury notes. roamer65 Jun 2021 #21

1.25 right now questionseverything Jun 2021 #22

Over 90% of student loans are owned, or backed, by the federal government. Hoyt Jun 2021 #5

But the interest charges continue to be added to the loan, so in most cases those people Luciferous Jun 2021 #13

If you go for the percentage of income repayment, at the end of the Hoyt Jun 2021 #14

25 year repayment plan, and the amount forgiven is taxed as income. So still not great. Luciferous Jun 2021 #15

So what? First, if you never earn much money, you don't pay Hoyt Jun 2021 #16

I have parent plus loans ( government loans) bottomofthehill Jun 2021 #17

Unlikely leopheard Jun 2021 #6

He promised Tndem615 Jun 2021 #7

He committed to trying to forgive $10,000 in student loans. Hoyt Jun 2021 #8

He was called centrist/moderate/establishment/conservative and now it's as if he betsuni Jun 2021 #11

I hadn't heard about that flibbitygiblets Jun 2021 #12

I haven't seen reports of a back peddle. Can you cite to a news story or press release? TomSlick Jun 2021 #23

No he hasn't. GoodRaisin Jun 2021 #24

It could have been done in 2010 when Student Loan reform was passed as part of the ACA MichMan Jun 2021 #10