Re:Regulators Shut Down Lending Platform (YC Alum) LendUp
by dragonwriter on Wednesday December 22, 2021 @09:38PM
(#29658036)
> Yo, just because a new student getting loans right now can get 4% doesn't mean that 7% wasn't absolutely the norm for many people over the past decades
Subsidized loans were at 6.80% for the first two years they used fixed interest (the academic years 2006-2007 and 2007-2008); this is the highest they have ever been under the fixed interest regime; there are three additional years they were at 5% or higher.
Under the variable interest regime before that, they spent some time at 7% or above in the 1990s, but those would have fallen with general interest rates.
Subsidized loans were at 6.80% for the first two years they used fixed interest (the academic years 2006-2007 and 2007-2008); this is the highest they have ever been under the fixed interest regime; there are three additional years they were at 5% or higher.
Under the variable interest regime before that, they spent some time at 7% or above in the 1990s, but those would have fallen with general interest rates.