Dee-1 made a rap video about paying off his student loans to Sallie Mae back.
Adam Rifkin stashed this in Student Loans
He was so relieved to get a recording contract that he paid off his student loans.
His rap about paying Sallie Mae back showcases what a relief it was to retire his debt.
A Redditor asked what the average student loan rate is.
Answer is bank loans 7%, federal loans 3-7% depending on when the person graduated.
More Reddit comments:
They "should" be near the federal reserve interest rate which is currently 0% (2010-2016) but predatory lending takes advantage of people who grow up being told that they need college to have a chance of success in life. Dangle the carrot and hit them with student loan interest rate stick when they reach for the carrot.
It seems truly unfair how far they are from the federal reserve interest rate.