Quote:
Originally Posted by RIROCKHOUND
My guess, is if you sum 10% of the ave graduates income over 20 years, it is pretty close to the loan amount...
Make 50K/yr - > 5k/yr = 100,000
Make 100k/yr -> 10k/yr = 200,000
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Lets say you go to school for 4 years ( alot of kids go more if you want to make 75K plus)and take out loans of 160K then get a job paying 75k. 10% would be 7500 times 20 years is 125k. So now the originating bank not only does not get any interest but also looses 35k in the deal or is the government going to magically come up with the difference and the interest so the banks can continue to find school lending smart business practice??
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