16 Pics Showing Why You Should Be Really Careful With Student Loans


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Image Source: Moterials

There are so many things so typical about the U.S. that you could make a very impressive list that could get a bit controversial at the end. It seems that student loans are among those things, and there are plenty of reasons for that, some of which we’ll cover in the list below. It is all about the peculiar things about getting and dealing with these loans. The people who have been down that route could easily agree that it often feels like they have been scammed by professional hustlers, and they have agreed to the kind of dept that nobody in their right mind would never agree to. Still, most students have no choice but to accept this fate, which is why lists like the one below exist, and will probably continue to emerge.

 

1. The payments 

Image Source: Reddit

It seems that people are sometimes too busy to notice the obvious about their loans. This is what we mean: payments are sometimes not enough to settle the debt. As you can see, this person has repaid 40 on-time payments, and there were surely moments when the person thought about how could it be that the loan is still intact, and there are many more years of repayment to come.

2. The call

Image Source: Reddit

This is how bureaucracy works at its finest. It is true that getting a loan is very easy and straightforward because the system is designed in such a manner that you are tempted to get the loan and worry later. Worry is what most people actually do, as they are forced to repay their loans over the course of decades. The worst part is that they need to go through moments such as long calls and being put on hold just to ask for a form.

3. The cheque 

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This one is pure gold, as it shows the things that are wrong with this payment system. Sometimes, people repay their loans with payments that allow them to send a bit more money, but they might get a refund if they do so. It seems this is what happened here, and the person had to be refunded a fraction of a dollar. Still, the postal expenses cost 46 times more than the refund.

4.

Image Source: Reddit

We are not entirely sure who decides on everything related to the loan system, especially the bits regarding the user experience. We also wonder how could it be that some loan portals and websites look like they are part of a gaming experience, and not a financial institution. As you can see, this is one perfect example of what we are trying to describe, and we think it is not that appropriate.

5. The loan

Image Source: Reddit

People are sometimes too busy to notice the important things in life, and their achievements are also part of this group of moments or milestones. However, nobody could simply ignore the fact they paid off their student loans, and this is a huge thing in everyone’s life. As you can see, this person spent 20 years repaying the loan they took as a student, and that is just sad to see.

6. The balance 

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This is how one person was left baffled after paying off the last of their student debt, and it was a really unpleasant surprise, too. As you can see, there is still one cent left to be repaid despite the fact the person used a pay-off tool that was embedded in the online platform. The former student really expected to see a zero debt balance, and that didn’t happen.

7. The credit score

Image Source: Reddit

Wow, this is something that makes zero sense to us, and we wonder what actually happened for this to be the result of it. A person wanted to clear their debt before attempting to buy a house with a mortgage loan, thinking that not having another loan would be beneficial for them, but it did not work like that. Their credit score plummeted after repaying the student loan, and that was surely a surprise.

8. The allocation 

Image Source: Reddit

Here is how one person noticed that there was an automatic sequence that arrange for the allocation of their student loan payments to the lower interest rate loans first, and this is a huge no-no. We believe that this should not happen at all, but it seems that there are no mechanisms that could prevent this from happening. This is why student loans are something that people should be careful with.

9. The letter

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You are probably familiar with what it feels like to be under pressure while having to repay a loan, and the financial institutions responsible for this do their best to apply even greater pressure on you, just so they could be sure you will not forget to repay the payments in time. In this case, one person received a dozen letters regarding their student loan that had the same contents.

10. The percentage 

Image Source: Reddit

We heard about this campaign, and it sounded like it would make a lot of difference, but there are many things that should be taken into account, including the actual bigger picture that we all must see in order to take into account. These billions are just a fraction of the number of student loans that remain unpaid, and the actual number is a whopping one. We had no idea it was this serious.

11. The proposal 

Image Source: Reddit

This is a campaign that most people would not consider an inappropriate one, as it is just something that offers an opportunity for those willing to take it, and we know many people will. As you can see, the thing that puzzled us about it is obvious. The statement you see written is just not correct. The more students take a loan, the more student debt there will be.

12. The game show 

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We have seen things that need to be believed, and this is one fine example of that. Imagine just how big on an industry student loans are for a real game show to exist that is based on the concept of repaying your loans if you happen to be the winner. This is an absurd thing, and it could happen only in America.

13. The term 

Image Source: Reddit

We have seen such headlines a lot of times before, and we all know that such things can never happen without external help. We know that people are sometimes too proud that they have been able to repay a student loan in a short period of time, but doing this the usual way would take way more than three years. Such a short term is impossible for most people.

14. The bill

Image Source: Reddit

If you need solid proof that student loans are a downward spiral and they seem to be getting bigger over time, regardless if you never delay a payment, this image should be enough. We understand that people who have never experienced this would have to see a few such balances to believe what is happening.

15. The boss

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This is one image that reveals a real problem related to the perception of student loans some people have. It might have been a different story 40 years back, but student loans today are too heavy for most people who take them, and that results in decades of hard work to repay them.

16. The signature 

Image Source: Reddit

This is more or less how tempting the student loan concept sounds at first, and many people for it, but they soon come to the realization they have been scammed. Not everyone starts making a lot of money once they graduate. Most students need to pay for years in order to clear the debt.


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Patrick Bennet
I love reading and writing. I am a full time student and I study Philosophy in Oxford.

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