Surely this can't be true?
It isn't because the minimum repayments are so low they never come close to the large interested accrued?
It isn't because the minimum repayments are so low they never come close to the large interested accrued?
Mitch Daniels, the president of Purdue, has been pushing for this as a sort of solution to student loans, but it just ends up with the higher-income students subsidizing the education of the lower-income students, where 'income' refers to post-graduation job income.
You know what else does that? Having government guaranteed loans in the first place.